Mexico invited to join IEA

By
Thursday, November 9, 2017

Mexico has been invited to become the 30th member of the International Energy Agency (IEA) after all the member countries endorsed the Latin American nation's entry.

Welcoming Mexico into the IEA is part of the agency's move to expand membership to Latin America and also to provide a major boost for global energy governance, the IEA said.

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During the annual ministerial meeting in Paris, IEA ministers recognized that in record time Mexico had taken all necessary steps to meet membership requirements since its initial expression of interest in November 2015.

President Enrique Peña Nieto has submitted the IEA agreement for ratification by the Mexican senate.

Mexico's future membership "represents a real symbol of the IEA's transformation into a global energy agency, representing energy consumers as well producers," said Fatih Birol, IEA's executive director (pictured, second from the left).

The membership invitation came after ambitious and determined work by the Mexican government to reform its energy sector, moving away from state monopolies, attracting new investments and promoting the clean energy transition, said the IEA, which added that Mexico will become a key partner in developing policy solutions for sustainable, clean and affordable energy.

Given the IEA's world-leading energy research and policy development, Mexico will benefit from the best international practices, regulatory cooperation, data sharing, and coordinated responses during emergencies," said Mexican energy minister Pedro Joaquín Coldwell (pictured, second from the right).

Mexico is the world's 12th-largest oil producer and has some of the world's best renewable energy resources, according to the IEA.

The country is also playing a leading role in the fight against climate change, with a commitment to sustainable energy development backed by clear energy efficiency and renewable energy targets, said the IEA. Mexico was the second country to enshrine its climate target into a climate law, requiring it to reduce by 50% its carbon dioxide emissions by 2050, the IEA added.