Canada and the United States are going to argue at a North American leaders' summit next week that resolving a dispute over measures that favor Mexican energy companies would help draw more foreign investment to Mexico, Prime Minister Justin Trudeau said on Friday.
"Both President Biden and I are going to be... fairly clear with President Lopez Obrador that this... needs to be understood as a way to help Mexico develop, a way to continue to draw in investments from companies in Canada and the United States," Trudeau told Reuters.
Lopez Obrador, a leftist energy nationalist, has pledged to revive state-owned power utility Comision Federal de Electricidad and oil producer Petroleos Mexicanos , which he argues his predecessors deliberately undermined to cede Mexico's energy market to foreigners. "Canadian companies invested about C$13 billion in energy infrastructure. In Mexico, C$5 billion of that is specifically around renewables," Trudeau said.
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