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Shinzo Abe makes energy deals in Mexico on Latin American tour

Japanese leader starts Latin American tour by inking agreements with President Enrique Pena Nieto involving state-owned oil giant

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Abe and Pena Nieto praised each other's reforms. Photo: AFP

Japanese Prime Minister Shinzo Abe struck a series of energy deals with Mexican President Enrique Pena Nieto at the start of a five-country Latin American tour.

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Abe, whose visit to the region comes on the heels of Chinese President Xi Jinping's , met Pena Nieto at the presidential palace for talks that ended with the signing of a raft of deals.

The new agreements include one between Mexican state oil firm Pemex and Japan's development bank, and another between Pemex and the Japan Oil, Gas and Metals National Corporation.

Energy is high on Abe's agenda for the trip, after the Fukushima disaster forced the shutdown of Japan's nuclear reactors.

Mexico is undergoing sweeping changes in its energy sector, with Congress poised to end struggling Pemex's 75-year monopoly and open up the oil-and-gas sectors to foreign investment.

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Watch: Japan's Shinzo Abe makes energy deals in Mexico

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