WASHINGTON, D.C. – The third meeting of the U.S.-Mexico Energy Business Council (the Council) took place today in Mexico City, and was co-chaired by Wells Griffith, Principal Deputy Assistant Secretary of International Affairs at the U.S. Department of Energy, and Israel Hernandez, Deputy Chief of Staff to the Secretary of Commerce, performing the delegated duties of Acting Under Secretary of Commerce for International Trade. They were also joined by Under Secretary Juan Carlos Baker of the Mexican Ministry of Economy and Director General Nicole David of the Mexican Ministry of Energy.
“The energy sector in North America has undergone a revolution in recent years, and developments in the United States and Mexico – ranging from the dramatic growth in resource production in the United States to the opening of Mexico’s energy sector to foreign participation – are positioning the region to achieve energy independence,” said Hernandez in opening remarks. “With this in mind, the creation of the Council and your recommendations could not have been better timed.”
“Public-private partnerships are essential to promoting growth and opportunities for investment, which is critical to the future of energy security in North America and the Western Hemisphere,” said Griffith during the closing session. “We are encouraged by the upswing in cross-border energy opportunities as a result of Mexico’s reform efforts and hope to see these trends continue, to the benefit of both our nations.”
The binational private sector council has submitted and prioritized numerous consensus recommendations designed to increase trade in energy-related products and services, including ways to enhance energy cooperation through the North American Free Trade Agreement (NAFTA). The Council’s recommendations were developed through working groups on Oil & Gas; Power Generation & Electrification; and Workforce & Human Capital. The third meeting of this group focused on discussing the Council’s prioritized recommendations and developing next steps.
Mexico is the United States’ second largest energy trading partner, remaining one of the most important destinations for U.S. exporters of energy-related equipment, technologies, and services, as well as petroleum products and natural gas. The two countries share infrastructure and policies across various energy sub-sectors.
The next meeting of the Council is expected to occur in Washington, DC in mid-2018.