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OTTAWA — Shrugging off the notion of an industrial rivalry, Mexican Ambassador Francisco Suarez says Canadian companies will enjoy enormous opportunities as his country seeks to rejuvenate its energy sector with sweeping, though politically challenging, liberalization.
In an interview Tuesday, Mr. Suarez said he expects Canada’s highly developed energy sector to figure as a key partner in Mexico’s multibillion-dollar effort to modernize not only its oil extraction sector but the pipeline and refining businesses as well as natural gas and electricity industries.
“This is the mother of all reforms,” he said at his office a block from Parliament Hill. “I think this opens great possibilities for Canada not as competitors but as complementary economies. I think this offers enormous opportunities for the relationship between Canada and Mexico.”
Mexican President Enrique Pena Nieto on Monday introduced a long-promised reform package which includes constitutional amendments to allow foreign companies to invest in energy production, although it stops short of allowing non-Mexicans to own or control oil and gas reserves.