Mexican President Andres Manuel Lopez Obrador, right, welcomes US President Joe Biden at Felipe Angeles International Airport in Mexico. Bloomberg
Mexican President Andres Manuel Lopez Obrador, right, welcomes US President Joe Biden at Felipe Angeles International Airport in Mexico. Bloomberg
Mexican President Andres Manuel Lopez Obrador, right, welcomes US President Joe Biden at Felipe Angeles International Airport in Mexico. Bloomberg
Mexican President Andres Manuel Lopez Obrador, right, welcomes US President Joe Biden at Felipe Angeles International Airport in Mexico. Bloomberg

Economy, migration and cartels to top agenda at North American Leaders Summit


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The leaders of the US, Mexico and Canada met in Mexico City on Monday to begin a three-day summit tackling issues of regional concern, including migration and boosting economic integration.

Mexican President Andres Manuel Lopez Obrador and US leader Joe Biden had a bilateral meeting in the evening.

They were to discuss economic integration, migration, climate change and combating drug cartels, Mexican Foreign Minister Marcelo Ebrard said in a preview earlier on Monday.

Mr Ebrard was speaking alongside Mr Lopez Obrador after Mr Biden arrived in Mexico City on Sunday evening for the North American Leaders Summit this week.

Canada's Prime Minister Justin Trudeau was expected to join the American and Mexican leaders after his arrival on Monday evening.

Mr Biden and Mr Trudeau will hold a bilateral meeting on Tuesday before the three join in the summit.

The Mexican President accompanied Mr Biden in a limousine from the airport to his hotel and said afterwards that, during the journey, they had spoken on some of the issues that would be discussed during the summit, including migration.

Mexico has long played a pivotal role in US immigration policy. With the implementation of Title 42 during the Covid-19 pandemic, that role intensified, as the policy gives the US the ability to return asylum seekers to Mexico while their claims are being processed.

Often forming massive caravans, tens of the thousands of migrants from Central America and the Caribbean have entered Mexico through its southern border, overwhelming understaffed border crossings as they move towards the US.

As US courts continue to debate the legality of keeping Title 42 in place, Mexico has been struggling to accommodate the thousands of migrants who have been pushed back across the border.

Mexico City has urged the US to commit funds to Central America and southern Mexico to boost development and stem migration from what has long been a poor region and to make it easier for migrants to get jobs in the US.

Before his arrival on Sunday, Mr Biden visited the city of El Paso, Texas, where he inspected the border with Mexico.

"Our problems at the border didn’t arise overnight," he tweeted.

"And they won’t be solved overnight. But, we can come together to fix this broken system. We can secure the border and fix the immigration process to be orderly, fair, safe and humane."

The summit, which will take place between Monday and Wednesday, is the first time the “Three Amigos" have convened since the previous event in late 2021.

In June, Mr Lopez Obrador rejected an invitation from Mr Biden to the Summit of the Americas in Los Angeles, as the US President had refused to invite the leaders of Venezuela, Cuba and Nicaragua, because the event was geared towards regional democracies.

“There cannot be a summit if all countries are not invited,” Mr Lopez Obrador said at the time. “Or there can be one but that is to continue with all politics of interventionism.”

Relations between the US and Venezuela have been tense for decades after the rise of Hugo Chavez, and the Biden administration has continued to uphold a controversial 60-year commercial blockade against communist Cuba.

Nicaragua's continuing political upheaval and its hard swing towards authoritarianism in recent years led to it not receiving an invitation to the Los Angeles event.

The North American leaders are expected to seek to give new impetus to strengthening economic ties during the summit, even as a major dispute grinds on over Mexico's energy policies, which has distracted from co-operation on other issues.

Oil rig catches fire in Gulf of Mexico — video

The US and Canada say their firms have been disadvantaged by Mr Lopez Obrador's campaign to give control of the market to his cash-strapped state energy companies.

Mr Lopez Obrador, a strong leftist, says the issue is a matter of national sovereignty and that past governments skewed the energy market to favour private interests.

Washington and Ottawa believe his policies breach the US-Mexico-Canada trade deal, and have launched dispute resolution proceedings against Mexico, souring the mood for co-operation over jobs and investment.

Mr Trudeau told Reuters on Friday that he would make the case that resolving the energy dispute would help bring more foreign investment to Mexico and expressed his confidence in making progress.

Since the Covid-19 pandemic choked supply chains worldwide, policymakers have stepped up calls for firms to relocate business from Asia to make the region's economy more resilient.

Violence breaks out in Mexico cartel stronghold as ‘Chapo’ son arrested — in pictures

Another major issue likely to be under discussion is Mexico's continued battle against the drug cartels.

The most recent example of the government's struggle against the criminal groups came last week after the capture of Ovidio Guzman Lopez, son of Joaquin “El Chapo” Guzman and reported high-ranking member of the notorious Sinaloa Cartel.

The ultimate capture of Mr Guzman Lopez, who is wanted in the US, led to an explosion of violence in the state of Sinaloa, with up to 29 people killed.

More than 31,000 homicides were reported in Mexico last year, many of them suspected to have been connected to the drug trade.

Reuters contributed to this report

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Citizenship-by-investment programmes

United Kingdom

The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).

All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.

The Caribbean

Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport. 

Portugal

The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.

“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.

Greece

The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.

Spain

The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.

Cyprus

Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.

Malta

The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.

The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.

Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.

Egypt 

A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.

Source: Citizenship Invest and Aqua Properties

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Updated: January 10, 2023, 12:37 AM