Mining law reform violates various trade agreements: International Chamber of Commerce

Mexico City /

The International Chamber of Commerce Mexico (ICC Mexico) Confirmed that the fix for Mining Law Approved at the Union Congress violates the Trans-Pacific League’s Global and Progressive Convention (CPTPP) and other trade instruments, which They can compel the Mexican government to reimburse the companies they currently have concessions in the matter.

The Committee on Trade and Investment Policy and the Investment Arbitration Committee of the International Criminal Court noted that Articles 9.12 and 10.7 of the CPTPP Prevent parties from modifying their regulatory framework to impose restrictions on activities or sectors that were not reserved in Annex I or II of the said instrument.

Mexico has not maintained as an activity of the Mexican state exploration, exploitation and use lithium; He emphasized that other provisions of this Treaty and the applicable Agreement for the Promotion and Reciprocal Protection of Investments (APPRIS) could also be breached, including provisions with Australia, China and the United Kingdom.”

mention it Mexico’s ICC recognizes that lithium, like other mineral resources, is the nation’s heritage; However, this recognition should not be confused with the right of Mexican and foreign investors to participate through concessions in economic activities related to the exploration, exploitation and production of mineral resources.

The commercial authority indicated that, according to the Ministry of Economy, this is dictated There are lithium mining concessions that have been awarded to companies from Australia, Canada, China and the United Kingdom.

“It’s worrying. Mining law reform does not consider any kind of exception to the public benefit declarationIt does not indicate what will happen to existing privileges. If the privileges granted in the subject matter are revoked or left without a trace, The Government of Mexico will be obligated to compensate the investors in accordance with the CPTPP and other applicable international instruments“, careful.

In light of this, the Committee on Trade and Investment Policy and the Investment Arbitration Committee of the International Criminal Court called on the government to “behave in a manner consistent with the international trade obligations that Mexico has obtained“.

See also  The first international business meeting of ANIERM was held in Hidalgo

srgs

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

Leave a Reply

Your email address will not be published.

Back to top