Britain's Deputy Prime Minister Nick Clegg (2nd L) is shown the manufacturing process of tortillas, which are used to make tacos, a staple of Mexican cuisine, at El Farolito restaurant in Mexico City in this photo taken on Tuesday. — Reuters
MEXICO CITY — British companies recognize the security threats posed by Mexico's drug violence but are more focused on opportunities in a batch of economic reforms in Latin America's No.2 economy, Britain's visiting deputy prime minister said on Wednesday. “Most of the investors I've spoken to accept there are parts of the country where there is conflict, there is violence, there is insecurity,” Deputy Prime Minister Nick Clegg told Reuters in an interview during a trade visit to the Mexican capital. “But I think ... far from seeing threats, many, most, all of the members of the delegation I've brought only see opportunities in Mexico.” Grisly drug gang violence in Mexico has killed more than 80,000 people since 2007. But President Enrique Pena Nieto has sought to shift attention toward an overhaul of the economy, pushing through landmark reforms to spur competition in a telecommunications industry dominated by billionaire Carlos Slim, and to open up the state-dominated energy sector to private oil majors in a bid to boost growth. Clegg highlighted Mexico's population of nearly 120 million people and Pena Nieto's reform package as the main lure for British businesses. Heads of the Mexico offices of oil giants BP and Royal Dutch Shell as well as an executive from Britain's BG Group were among business leaders at a reception held for Clegg on Tuesday, underscoring British interest in Mexico's newly-opened energy sector. US Commerce Secretary Penny Pritzker, also visiting Mexico, said American firms were also focusing on business opportunities. “The issue of security has not been at the forefront of conversation,” she said. “The focus has really been on what are the opportunities and how can American companies be part of a win-win solution for some of the challenges facing Mexico.” Clegg's comments highlight the conundrum faced by Mexico as it seeks to bolster its international image, drive foreign investment and boost growth, which has lagged regional peers in recent years. — Reuters
