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Violating signed trade treaties such as the T-MEC con EU y Canadawith a judicial reform Express, will bring arbitrations and sanctions that will affect the country’s economy, and the damages will have to be compensated with taxes and money from the public treasury, warned the International Chamber of Commerce Mexico chapter.
Yes, there is concern because there may be various sanctions, tariffs and even arbitrations in international courts, he said Claus von Wobeser, president of the organization.
“Any company that feels that its rights are being violated will want to enforce what is signed, because it will be proven that there is no equitable system of justice as Mexico promised in the treaties.”
Von Wobeser indicated that these claims and possible lawsuits from individuals will have to be assumed by the Mexican State and respond to economic damages.
“This is similar to what already happened in Argentina When reforms were made without considering the economic costs, a wave of arbitrations ensued,” he stressed.
He added that the same thing happened in Venezuela, “We already have examples in other countries, so it is a shame that they are looking at the issue locally and not reviewing what is happening in international law, both in deputies and senators.
The business leader said that the ICC represents 45 million firms worldwide and emphasized that it is the only organization along with the Red Cross who have a seat in the UN Council.
“It seems that the debate on judicial reform does not take into account the economic consequences, because the government says that we are sovereign, but in that capacity as sovereign, this treaty was signed.”
Claus von Wobeser He warned that there could be irreversible damage to the economy, so they must stop it, “once the damage is done, arbitration will come, and it will be more difficult to correct it.”
He stressed that the treaties signed by Mexico voluntarily have deadlines, formulas and They cannot be terminatedeverything takes a process and there are investments that are already advanced, that have already been made and must be respected even if the treaty were to end.
He added that legislators must be aware of the legal consequences that could be very serious for the country. He clarified that there has already been little real investment that has come with the nearshoring, In reality, there is a lot of reinvestment from companies that were already operating here.
“There have not been large plants, rather there is a lot of reinvestment… so of course there will be capital flight And if the investment grade is lost, the country’s debt will grow enormously,” he insisted.
He anticipated that if this reform to remove judges in Mexico is not stopped, a wave of commercial demands will arrive, both from investors and from other countries, which may generate a great economic crisis with billion-dollar lawsuits.
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2024-09-10 13:56:30