UC, Mexico sign memorandum of understanding on renewable energy

dailycal.org

CHEN GONG/STAFF

BY SONJA HUTSON | STAFF

New systemwide sustainability council holds first meeting

Napolitano to lead delegation at Sochi Winter Olympics

UC President Napolitano to lead US delegation at Winter Olympics

UC President Janet Napolitano and the Mexican Secretariat of Energy, or SENER, signed a memorandum of understanding regarding the development of renewable energy between the University of California and Mexico on Thursday at the Lawrence Berkeley National Laboratory.

The memorandum of understanding, or MOU, outlines the nature and scope of collaboration between the university and SENER for the next five years. This includes research; visits from scholars, scientists and administrators, and development of graduate programs in the field of renewable energy. This MOU is part of the larger UC-Mexico Initiative based in UC Riverside that Napolitano launched in January to strengthen collaboration between the university and Mexico.

The initiative aims to unify existing UC programs and partnerships in Mexico, such as education abroad and research partnerships, as well as prompt the development of new programs.

“I’m excited that we’re starting off with the energy sector, because I think there’s just so much we can do,” Napolitano said. “(The MOU partnership) is designed to think of energy in a sustainable way.”

Napolitano and Leonardo Beltran, SENER undersecretary of energy planning and transition, signed a copy of the MOU in English and another in Spanish. Andres Roemer, consul general of Mexico, and UC Riverside Chancellor Kim Wilcox also participated in the ceremony.

“The deepening collaboration and projects we are developing between Mexico and California will contribute to the much-needed efforts against climate change,” Beltran said in a statement. “The ultimate goal is that Mexico and California work together in these areas that are needed to secure a more sustainable future and a long-lasting regional economic development.”

According to Napolitano, partnerships between California and Mexico are relevant because of recent energy reforms in Mexico. She added that they share environmental and food issues as well as cultural and historical backgrounds.

Beltran cited recent partnerships between the United States and Mexico as another reason for the MOU. In 2013, President Barack Obama and Mexico’s President Enrique Pena Nieto announced an agreement to develop renewable energy. Recently, Gov. Jerry Brown and Mexico’s Secretary of Energy Pedro Joaquin Coldwell signed an agreement to collaborate in the field.

Under the MOU, the university and SENER are not obligated to commit to assigning funds or assets to activities. Each entity, however, is responsible for financing the activities that occur within them.

The MOU ceremony was held at Berkeley Lab as part of a two-day visit from members of SENER, which included tours of various parts of the lab and meetings to discuss UC research and possible collaboration.

Berkeley Lab is set to be the site of the first application of the memorandum. It will host three postdoctoral research fellows from Mexico beginning in January.

“I am convinced that, by working together, we can make our countries stronger and contribute to sustainability,” Beltran said at the ceremony.

Cultural differences between the U.S. and Mexico in the Business World

theyucatantimes.com

When U.S. executives are sent to Mexico, they soon hear that Mexicans are “indirect” and “will not give you a straight answer, “especially if what needs to be communicated is unpleasant.” Thus, the generalized statement about the Mexican “vagueness” is often heard among foreigners residing in Mexico.

But vagueness is only in the eyes of the beholder. In any cross-cultural experience, vagueness exists simply because in every culture language is complemented by assumptions. No matter how specific language is, it is almost impossible to avoid those assumptions. The oft-repeated complaint that Mexicans frequently miss deadlines, and/or appear to behave without accountability can be attributed to an unawareness of such assumptions. Indeed, according to George Bowman, GE Mexico’s managing director of Electrical Distribution and Control, a key adjustment to be made by U.S. managers in Mexico is to demand accountability for results. “Your team will perform best when you set clearly defined targets, followed by regular progress checks,” Bowman says. “If you give clear direction and the required support, your employees will jump over walls for you.”

Along similar lines, Bowman also suggests attaching specific completion dates to assignments. In the absence of such dates, he finds Mexicans often simply wait to be called for information. With deadlines in place, Bowman has received assignments “before the requested date.”

But the question remains, why is it necessary to spell out both an expectation of accountability and well-defined deadlines? To answer this, we need to know what each participant is taking for granted.

In mainstream U.S. culture, accountability is simply assumed, and a request for information is assumed to require a quick response. It is not necessary to say anything; it is assumed.

“Self-portrait on the Borderline Between Mexico and the United States” by Frida Kahlo

But in Mexico, those are not normal assumptions. Accountability needs to be specified, because often the authoritarian tradition puts the burden of accountability on the boss. Thus, transferring accountability to a subordinate is never assumed, and needs to be spelled out. Even less clear in the Mexican business world is a request that has no specific deadline. From the Mexican perspective, this is an example of vagueness in communication. The Mexican experience is that bosses often request information and other tasks, only to forget about them. Without a specific time deadline, the request appears not to be that important, thus it is put on the back-burner. We all know what it means to write a report that no one reads, or to search for information that no one uses. Thus, without a specific time set, the request simply appears to be unimportant.

Another common frustration that Mexicans and other Latin Americans have with their U.S. managers is with regards to messages that Latins hear as promises, which are in fact statements of probabilities. For example, one Mexican manager was told that in order to be promoted he would need to get a college degree. After completing his college degree, he was disappointed that his promotion did not come through. “I worked hard for two years, and got it, but still no promotion. It was an empty promise!” he said. Of course, the “promise” was actually only a probability statement, meaning that getting a college degree was a necessary, but not sufficient, condition.

Of the many challenges that the Mexico assignment brings to a manager, this is one of the more difficult to overcome. Learn to know when you are assuming, and don’t think that assumptions are universally understood. Giving specific instructions and rules, however obvious they may appear, is the surest way to avoid the trap of assumptions.

By  Ilya Adler

Source: http://www.mexconnect.com/

Opinion: Seize a golden business opportunity with Mexico

edmontonjournal.com
BY CARLO DADE AND DAVID ROBILLARD, EDMONTON JOURNAL  
SEPTEMBER 8, 2014 7:07 AM

 

It’s not a question of whether to deal with state-owned enterprises such as Mexico’s PEMEX, but “whether you can live with, and profit from, a particular model of state control,” write Calo Dade and David Robillard.

Photograph by: OMAR TORRES , AFP/Getty Images

The annual Canada Mexico Partnership meeting is being held for only the second time outside the Ottawa area — yet another sign of Calgary’s rise as an international centre.

But because Mexico is our “other” neighbour to the south, visiting Calgarians and Albertans may miss the significance of this week’s events.

Compared to more distant markets, the huge array of opportunities in the booming new Mexico are arguably the easiest for Western Canadian companies. That partially explains why the market is so easily overlooked.

Reforms in Mexico’s energy sector will help change this. No, Mexico is not going to abandon state control over the energy sector or dismantle PEMEX, its state-owned oil company. But then, neither is anyone else.

State owned-enterprises (SOEs) control approximately 90 per cent of the world’s oil reserves and 75 per cent of production. Outside of the U.S. and Canada, it is not a question of whether to deal with SOEs; it’s a question of whether you can live with, and profit from, a particular model of state control.

Mexico’s energy-sector reforms make the answer even more of a yes.

Canadian companies such as Precision Drilling Corp., CanElson Drilling Inc. and Calfrac Well Service Corp. have been succeeding in Mexico. Pending deregulation will only make things easier for them and for new entrants from Canada.

In some cases, these companies will also find that opportunities in Mexico are better than in Canada.

The Mexican government forecasts that over the next decade, oil production will rise by three million barrels of oil per day by 2018, and $100 billion in is needed over the next decade for shale gas development. And as opposed to Canada, Mexico will actually be building pipelines.

Clearly, the Mexico of today is not the Mexico of 20 years ago when NAFTA was signed. Then, most Mexicans lived in poverty. Today, the majority are middle class. Mexico is now the world’s 14th largest economy, nestled between Spain and Korea. By 2030, projects PricewaterhouseCoopers, it will be the world’s 8th largest, ahead of the U.K., France and Canada.

This brings new opportunities for companies in Western Canada.

Beyond NAFTA advantages, in Mexico there is geographic proximity (5-1/2 versus 12 hours to Asia) and a business culture and language that are North American. With more Mexicans in the U.S. than there are Canadians in Canada, if you’ve done business in the U.S. then doing business in Mexico is more of a large step than a huge leap. As for crime, the homicide rate in oil-producing states of Tabasco and Texas, are practically the same — 5.4 versus 5.0 homicides per 100,000 inhabitants.

But most significant is the interest the Mexican government is showing in this part of Canada. In June, the Mexican government made its first presentation on the country’s energy reforms. Not in Houston, but in Calgary. With full, not honorary, consulates in Calgary, Vancouver and soon in Winnipeg, Mexico will have as much representation in Western Canada as does the U.S.

As well, the Mexican National Hydrocarbons Commission has signed a co-operation agreement with the Alberta Energy Regulator. And the Mexican government is encouraging the University of Calgary to expand its ties to that country.

Mexico holds enormous opportunity for Western Canada and that country has been laying out the welcome mat. We in Western Canada need to respond. That would start with a warm reception this week and continue with higher-level reciprocal visits from provincial officials, ministers and premiers.

Alberta has had an office in Mexico since 2002 and the province enjoys a good reputation there. One of the reasons for these foreign offices is to put the province and its companies in position to seize these types of opportunities. Now is the time to realize the benefit of that investment.

The opportunities for Western Canada are equal to those that we have elsewhere around the Pacific; our attention needs to match.

Clinton in Mexico, gives keynote speech

Monday, 08 September 2014 01:10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

thenews.com.mx

Clinton in Mexico, gives keynote speech

Carlos Slim commemorates over 10,000 scholarship recipients

BY TONYA ERNST

The News

Recipients of billionaire Carlos Slim Helú’s Telmex Foundation scholarships attended the annual Mexico XXI Century conference Friday, featuring a handful of well-respected international speakers at the National Auditorium in Mexico City.

The watershed event brought to the stage former Secretary of State and first lady Hillary Clinton, writer Lizzie Velazquez, Facebook CEO Mark Zuckerberg, soccer player Ronaldinho, actor Antonio Banderas and, of course, chairman of Grupo Carso and son of billionaire Carlos Slim Helú, Carlos Slim Domit, each offering words of guidance to the more than 10,000 scholarship recipients from various public and private universities across Mexico.

With three of the five speakers delivering their speeches in English, the sponsoring Teléfonos de México (Telmex) organizers delivered a high-tech event by offering in-house translations for Spanish-speakers remitted through headphones located at every seat, as well as translations from Spanish for the English-speakers.

Despite the tech-savviness and plethora of free food, the conference’s most impressive feat was the quality of its international speakers.

Mexico XXI Century began with an opening from Slim Domit applauding the efforts and continued success of the Telmex Foundation in integrating students beyond the world of academia.

He also recognized the triumph of the corporation’s nonprofit foundation in improving the everyday lives of Mexicans.

“We are pleased and proud to continue contributing to technology, education and health,” he said

Slim Domit specifically recognized the construction of the 17,800-kilometer AMX1 submarine optic cable system, which will stretch across seven countries from Florida to Rio de Janeiro, Brazil, allowing Ámerica Movil and its subsidiaries to provide international connectivity.

He noted that the 100G-transmission system will permit 846 million simultaneous calls or the download of 2.2 million songs per second.

In education, Slim Domit commended the Telmex Foundation’s connection of 528 public and private universities with access to joint education programs, as well as academic content.

Slim Domit concluded his speech by thanking the students, reiterating his gratitude for their efforts in furthering Mexico’s future and introducing the subsequent speakers of the day, including many names that were met with loud applause from the packed auditorium.

Hillary Rodham Clinton was the first guest speaker to grace the auditorium’s stage.

The former secretary of State and first lady to former U.S. President Bill Clinton offered a moving recollection of events in her life that motivated her to choose a future in politics.

She particularly directed her speech to the young women in the audience, encouraging them to strive for positions that they may think are out of reach, recalling that she was once forced to break barriers in order to move ahead professionally.

Clinton spoke of her working-class background, having been raised by parents without college degrees, and emphasized the importance of education to evoke social mobility in a generally male-dominated period in the United States.

She encouraged the young females in the audience to consider a career in politics, saying it is of utmost importance for the country to continue progressing.

“Countries that don’t have the full participation of girls and women, their economies are not as strong, they are not as stable and democratic,” Clinton said.

“We’ve gotten so much further than most of the rest of the world in knocking down barriers.”

During a question-and-answer session, Clinton responded to an inquiry as to whether her name would be seen on the ballot as the democratic candidate for the United States’ presidential election in 2016 by saying she would “make a decision probably after the first of the year.”

She hinted that she might be leaning toward the presidency bid, acknowledging her “unique vantage point” due to the various positions she has held in her political career, such as first lady, senator of New York and U.S. secretary of State.

“What I have learned as secretary of State and before that as a United States senator is that every problem in the world cannot be solved by the United States, but there is not a problem in the world that can be solved without the United States,” Clinton said.

Clinton also spoke of the importance of creating and maintaining a middle class in the United States, attributing that to the achievement of the American Dream.

She touched on various matters concerning U.S. policy, such as her stance on the Middle East and Russian President Vladmir Putin’s actions in Ukraine.

“It’s very important that Europe remain whole, stable and at peace,” Clinton said, “and that Russia be persuaded or somehow convinced, even coerced, into looking toward the future, not the past.”

Her trip to Mexico also coincided with potential U.S. Republican presidential candidate and New Jersey Gov. Chris Christie’s week-long visit to Mexico City to promote bilateral trade and investment.

Author and motivational speaker Lizzie Velazquez followed Clinton, giving a speech encouraging the audience to love themselves “from the inside out.”

Velazquez, 25, was diagnosed with an incredibly rare medical condition that inhibited her from gaining any body fat.

Standing strong at 64 pounds, Velazquez said that during her childhood she constantly dealt with bullying from those around her.

She detailed the moment she found a video on YouTube titled “The Ugliest Woman Alive” as the most traumatic day of her life.

She attributed the strong community she had built around her for the ability to rise above the criticism and frequent bullying.

Like Clinton, Velazquez emphasized the importance of kindness to others, stating that it is the only way to combat discrimination in our communities.

Velazquez’s third book ,“Be Happy, Be You,” oultines her efforts to accept herself and to strive toward her dream as a motivational speaker.

She encouraged the Telmex Foundation beneficiaries to continue working toward their own dreams and to not let self-imposed limitations deriving from insecurities set them back.

Following Velazquez, Mark Zuckerberg took the stage for a Q&A.

The 30-year-old entrepreneur is the founder and CEO of social media juggernaut Facebook.

Zuckerberg’s discourse covered his earliest experiences coding information and the beginning of Facebook, along with his views of the future of human connectivity.

He gave special emphasis on matters of education, noting he and his wife Priscilla lead the project Startup: Education founded in 2010.

Zuckerberg was particularly vocal regarding the problems faced by undocumented students seeking a path to study in the United States.

“It is a big issue that needs to get fixed. It is a matter we care deeply about,” he said.

Zuckerberg also reiterated the importance of technology in the world and the mobility it provides for those who learn to use it.

He expressed his determination to connect the entire world to the Internet.

“Even if it means that Facebook has to spend billions of dollars over the next decade making this happen, I believe that over the long term it’s gonna be a good thing for us and for the world,” he said.

Later, Antonio Banderas, known as the prototypical Spanish heartthrob thanks to his assortment of successful Hollywood roles, took the stage.

Banderas outlined his development as an actor while putting up with constant obstacles in his youth.

Talking about his early experiences as a member of the audience when attending plays, he said “I found myself on the wrong side of the stage.”

Soccer great Ronaldinho, the fifth speaker of the event and the former Golden Ball winner from Porto Alegre, Brazil, also received an impressive ovation from the public.

Ronaldinho, whose real name is Ronaldo de Assis Moreira, discussed his ability to overcome poverty, having been raised, along with his brother Roberto, by a single mother in a favela (Brazilian slum).

During his Q&A, questions were centered around how he managed to cope with the power, fame and financial gains that accompanied his success on the soccer field.

Ronaldinho surprised audiences when he announced his acceptance of a two-year contract with Mexico’s first division to join the White Roosters team of Queretaro.

The announcement that one of the biggest names in the soccer world was entering the Mexican league brought screams of excitement to the room.

Along with expressing his appreciation to Mexico, Ronaldinho told the students not to let superficial distractions take hold of what they want to accomplish in life.

“Don’t lose focus, you must keep working hard,” he said.

By the end of the event, Telemex beneficiaries had heard advice on topics ranging from bullying to the importance of connectivity.

The Telmex Foundation, founded in 1996, has been Carlos Slim Helú’s (one of the richest men in the world) largest charitable foundation, concentrating on efforts relating to health, social justice, culture and, of course, education.

The importance and accomplishments of the Telmex Foundation scholarship recipients and the future of Mexico were not forgotten during the magna conference, as Clinton, referring to the students, noted: “Mexico has one of the brightest futures of any country in the world.”

US DOC official hails energy reform

Friday, 05 September 2014 01:10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

thenews.com.mx

US DOC official hails energy reform

Trade undersecretary says changes are revolutionary

THE NEWS

The Mexican energy reform is revolutionary, said the U.S. Department of Commerce.

“Commercial trade relations with Latin America and the Caribbean are very important to the United States,” said U.S. Undersecretary of Commerce Stefan Selig during the Trade Américas and ConnectAmericas Expo.

“We applaud this revolutionary energy reform that ended the over 70 year state monopoly of the Mexican oil sector. Mexico is the second largest trading partner of the United States. Last year, United States exports to Mexico reached $226 billion, exceeding the export values of United States to Brazil, Russia, India and China combined. Mexico’s potential growth is not just about numbers. In today’s global market, good governance is necessary to create an attractive market.

“Forty-five percent of all United States exports go to Latin American and Caribbean markets, and U.S. exports are growing at a faster rate than our trade with the rest of the world. Since 2009, U.S. exports to Central and South America have increased almost 70 percent, representing the fastest growth rate in comparison with any other region,” said Selig.

“Take for example Brazil and Colombia. In 2013, Brazil was the ninth largest trading partner and Colombia, after improving security issues, is now becoming the third largest economy in Latin America.”

The Trade Américas and ConnectAmericas Expo, sponsored by the Inter-American Development Bank (IDB) and Latin Trade Magazine, brings together hundreds of Latin American entrepreneurs and government representatives.

The United States has free-trade agreements with 20 countries, of which 11 are in Latin America. One-fifth of U.S. exports went to these partners in 2013.

“The merchandise we sold to our 11 Latin American markets through the free trade agreement represented 20 percent of our total exports in 2013,” said Selig.

Mexico aims to strengthen energy sector with Canadian capital

thegolbeandmail.com

SHAWN MCCARTHY - GLOBAL ENERGY REPORTER

OTTAWA — The Globe and Mail

Published Monday, Sep. 01 2014, 7:01 PM EDT

Mexico’s state-owned development bank is forging alliances with Canadian financial institutions to boost the stunted levels of commercial lending in the country, especially in the newly reformed energy sector where increased investment is sorely required.

Banco Nacional de Comercio Exterior SNC (Bancomext) is ramping up efforts with domestic and foreign lenders – including Bank of Nova Scotia, Bank of Montreal, Canadian pension funds and Export Development Canada – to provide the capital needed to ensure the Mexican government’s wide-ranging reforms succeed in boosting growth and employment.

“This is a very significant relationship,” Bancomext chief executive officer Enrique de la Madrid said in an interview as he wrapped up a week-long visit to Canada.

“We have a very important neighbour but I think we should look beyond our common neighbour to build our own relationships, to continue to grow the business and continue to grow our mutual understanding which in some ways is not as close as we think it should be.”

The government of Mexican President Enrique Pena Nieto has succeeded in passing a series of laws that overhaul not only the energy sector, but banking, the telecommunications industry, the tax system and education.

It hopes to unleash a flood of investment that will increase productivity in the country and increase growth from 2.3 per cent per year over the last decade to closer to 5 per cent a year.

To do so, the Mexican government is looking to boost private-sector lending. Outstanding commercial credit amounts to 28 per cent of GDP in Mexico, versus an average of 44 per cent in Latin America and 75 per cent in Chile.

Recent legislation makes it easier for lenders to recover collateral when a loan goes sour, a move which should reduce risk for banks and lower costs for borrowers.

Scotiabank’s Mexican subsidiary already has 900 branches and 15,000 employees, and is eager to capitalize on the new opportunities, its chief executive Troy Wright said in a telephone interview.

“All of the reforms are extremely exciting and we’re optimistic they will bring substantial changes in Mexico,” Mr. Wright said.

He said the reforms should unleash levels of investment in the country’s energy sector that Canada is used to seeing in the Alberta oil sands, and that Scotiabank will target project financing as well as lending to small and medium enterprises that will supply the industry.

International attention has focused on Mexico’s oil sector, where production has declined to 2.3 million barrels a day from 3.5 million a decade ago. Reforms will allow state-owned Petroleos Mexicanos (Pemex) to partner with foreign firms on major projects and will reduce the state’s reliance on the oil company to fund government programs. As well, international companies will be able to develop their own oil and natural gas projects.

But the short-term priority is development of the country’s natural gas and electricity infrastructure on which manufacturers rely. Currently, gas and power prices are far higher in Mexico than in Canada or the United States and service can be unreliable.

“The electricity reform is as dramatic as the one involving oil but much less visible to the people,” Mr. de la Madrid said.

The country’s power producer is planning a major switch from fuel oil to natural gas, and is building a network of pipelines to deliver it, both from the U.S. and from internal sources. Calgary-based TransCanada Corp. is a key developer of natural-gas pipelines.

Despite fears that a resurgent oil industry would compete with Canadian producers for coveted U.S. markets, Mr. de la Madrid said the three North American partners should proceed in partnership rather than in competition.

“The challenge is to see the three of us – the three amigos – to see how we can work together for the production of goods and services and sell them to other regions of the world,” he said.

Almost $10 Billion in FDI in First Half of 2014

by Murry Page

30 Aug 14 

mazmessenger.com

 

México’s Secretariat of Economy announced that during the first half of this year México was the beneficiary of $9.733 billion in Foreign Direct Investment (FDI).

The Secretariat noted that this amount includes an atypical transaction in the second quarter, which consisted of the purchase of shares by Mexican investors of the company America Movil.

The first half of 2013 also saw an atypical transaction when shares of Mexican Groupo Modelo were sold to foreign investors.

The $9.733 billion in FDI reported for the first half of 2014 is 59 percent lower than that reported for the same period in 2013. The Secretariat noted, however, if the atypical transactions are eliminated, the FDI during the first six months of 2012 would have been 34 percent higher than the same period last year.

Spain led the list of countries investing in México with a cumulative investment of $2.544 billion.

(from El Sol de Mazatlán)

Mexico’s EPN fortifies US ties

Wednesday, 27 August 2014 01:10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

thenews.com.mx

Mexico’s EPN fortifies US ties

Talks continue for Mexico, California cooperation

THE NEWS/THE ASSOCIATED PRESS

President Enrique Peña Nieto recognized the state of California for being open to multiculturalism and offering better living conditions and a brotherly atmosphere to communities during a two-day visit to California.

Speaking to California Gov. Edmund G. Brown, business leaders and politicians, Peña Nieto said that he hoped California’s vision and attitude spreads to other U.S. border states.

Peña Nieto said Gov. Brown’s policies are aimed at safeguarding the human rights of all citizens, regardless of whether they are legal or illegal immigrants, believing that they all contribute to the development of California.

“For these reasons, Gov. Brown, the Mexican government has great respect and sympathy for your government’s efforts,” Peña Nieto said.

On Brown’s recently visit to Mexico City he took part in discussions on different projects to strengthen cooperation and ties between Mexico and California. The projects discussed included education and infrastructure to improve the transit of Californians and Mexicans across the U.S.-Mexico border.

Peña Nieto also spoke of the need for U.S. immigration reform saying those who reject diversity and inclusion will ultimately be proven wrong.

“We want to be a factor of cohesion, not division, with full respect for the sovereignty of the United States,” Peña Nieto said Monday. “This, at the end, is about — and only about — a matter of justice for those who contribute so much to the development of the American society.”

During an upbeat speech embracing the ties between Mexico and California, Brown didn’t entirely gloss over a relationship that has, at times, been fraught with tension.

California voters in 1994 passed Proposition 187 that sought to ban immigrants who are in the country illegally from access to social services including health care and education, though it was reversed by the courts.

Hispanics have now become a force to be reckoned within California.

They now make up the largest of any racial or ethnic group in the state, though their voter registration numbers still lag behind whites.

In related news, The Sacramento Bee published on Tuesday an article in which Peña Nieto talked about the significance of his visit to California and the importance of California-Mexico ties.

“My country offers new investment and collaboration opportunities in areas such as education, energy and trade,” Peña Nieto said. “For the first time in decades, both local and foreign private companies will be allowed to participate in Mexico’s promising energy industry, resulting in more investment and better employment opportunities.”