The IEA formalizes its invitation to incorporate Mexico as a new member

The International Energy Agency (IEA), which today concluded its ministerial meeting in Paris, has formalized the invitation for Mexico to become its 30th member and the first Latin American.

Paris, Nov 8 (EFE) .- The International Energy Agency (IEA), which today concluded its ministerial meeting in Paris, has formalized the invitation for Mexico to become its member number 30 and the first Latin American.

The central theme of the two-day conference was the reinforcement of energy security for sustainable growth, with special attention to the creation of conditions for investment, the stimulation of innovation and the transformations brought by digital technologies, explained the IEA in a press release.

representatives of the twenty-nine member states unanimously approved that Mexico enter this organization, created in 1974 and that brings together the world's largest energy consumers developed.

In this regard, they recognized that "Mexico has taken all necessary steps in record time to meet international requirements to become a member", since initially expressed interest in November 2015.

The agency highlighted that it is the twelfth largest oil producer in the world and has some of the best resources in Renewable energy.

In addition, he stressed that his energy reform has placed him in "a leading position in the entire energy spectrum."

This reform, he said, has put an end to the dominance of state monopolies in oil and electricity and has opened up fundamental parts of the sector to new players, as well as new opportunities in the investment and technology terrain.

With these changes, it is expected that Mexico will correct the decline in oil production, increase the weight of renewable energies in the generation of electricity and slow down the progression of carbon dioxide emissions, which should lay the foundations for "strong growth in the coming decades".

About the question of the fight against climate change, the IEA recalled that Mexico was the second country that set its goals -to reduce greenhouse gas emissions by 50% 2050- in a law.

Mexican President Enrique Peña Nieto has submitted to the Senate the agreement to ratify the entry agreement.

His Energy Secretary, Pedro Joaquín Coldwell, who participated in the ministerial meeting in Paris, estimated that with his entry into the organization the country will benefit from international best practices, cooperation in the rules, the sharing of data and the coordination of responses in case of emergencies.

Two of the main conditions for joining the IEA are being part of the Organization. for Economic Cooperation and Development (OECD) and have oil reserves equivalent to at least ninety days of consumption.

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