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Combating petroleum theft and corruption trumps Davos economic forum

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President López Obrador asked his cabinet secretaries not to attend the World Economic Forum in Switzerland this week and focus instead on the fight against fuel theft and attend to the Hidalgo pipeline explosion.

Foreign trade undersecretary Luz María de la Mora, head of the Mexican delegation, told reporters in Davos yesterday that by asking top officials not to travel to the Swiss ski town, the president is sending a clear message that the government’s priority is to combat corruption in Mexico.

“Yes, it’s true that a delegation was going to come at the secretary level, but the president asked them to stay in Mexico to attend to the emergency,” de la Mora said.

“That is the reason they are not here. The message we are sending is that for President López Obrador, the fight against corruption is central to his agenda, and he is taking it with all seriousness.”

De la Mora said the government remains committed to attracting foreign investment to Mexico and that around US $20 billion was expected to flow into the country this year.

She explained that the López Obrador administration wants to work with new Brazilian President Jair Bolsonaro to negotiate a broader free trade deal which would remove tariffs on vehicles shipped between the two countries.

In an interview with German broadcaster DW, de la Mora reiterated that Mexico is fully committed to free and open trade.

“The way we’re dealing with global trade tensions is by not getting into the same trap of protectionism. We do not believe that protectionism is the solution to any problems that trade may bring . . . Trade is an engine for growth and we’ll continue to support it,” she said.

Source: Bloomberg (sp) 



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