The Mexican government said it’s revised or signed 20,000 contracts, with 15,000 more under consultation. The changes have boosted compensation by an average of 20 per cent, the government said.
O’Regan’s department has also stationed two envoys in the country to monitor progress on the reforms, which he said is the first time Canadian labour attaches have been posted abroad. The Business Council of Canada is hoping for similar collaboration between big business in both countries. Along with its Mexican equivalent, the council has been asking the governments of both countries to craft a strategy to boost competitiveness of the manufacturing sectors, ramp up investments in priority sectors and have provinces work more with Mexican states.
Canada is a global hub for mining companies, many of which focus on exploring for minerals and buying the rights to an extraction area, known as a concession, which can be held and eventually sold to another company. The reform lowers the maximum length of time for these concessions, and allows some to be cancelled if no mining is undertaken within two years.
The embassy also praised “crucial” efforts by big business to seek closer ties between the two countries.
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