Mexico minister eyes plan to lure investment from Asia, cut trade deficits

MEXICO CITY : Mexico is planning to work with the rest of North America to lure manufacturing investment across the Pacific from Asia and reduce large trade deficits with the region, Finance Minister Rogelio Ramirez de la O said on Friday.

He noted that Mexican President Andres Manuel Lopez Obrador had pitched the idea during a North American leaders summit in November and was speaking as Granholm visited Mexico to address U.S. concerns that Mexico's energy policy is sapping investment. Lopez Obrador has sent a bill to Congress that would strengthen state control of the power market at the expense of private companies, causing alarm among major investors in Mexico, and upsetting many of the country's diplomatic allies.

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