Doing Business In Mexico

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Chairman of the Mexican Chamber of Commerce in Great Britain

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The Mexican Chamber of Commerce is the authoritative voice of Mexican businesses in Great Britain and provides guidance and support to Mexican and UK businesses and organisations to catalyse positive changes in the bilateral agenda, contributing in building networks, connecting business and creating opportunities to its members. In coordination with its strategic partners, the MCC has been actively promoting business opportunities for Mexican business in the UK and to UK business in Mexico.

With a land area of 1.972 million square kilometres and a population of 112 million, Mexico is the second largest economy in Latin America. Mexico has maintained political stability and stable economic growth for the past 15 years.

In 2011, Mexico became the world's 14th largest economy, with its GDP exceeding US$1 trillion. Its total economic output was quite close with that of Australia and Spain and was roughly 36% lower than the economies of Russia and India, both BRICS members.

Jim O'Neill, asset management chairman for Goldman Sachs, said that Mexico will surpass Russia and India to become the 7th largest economy in the world by 2020. According to HSBC Bank's report "The World in 2050", Mexico will maintain a growth rate of 3 to 5 per cent over the next 40 years and is likely to become the 8th largest economy in 2050.

The prospects of the Mexican manufacturing industry are positive. Mexico's border with the US is its most prominent advantage over the current BRICS. Under the North American Free Trade Agreement, Mexico's economy has integrated into that of the US and Canada developing export orientated industries.

Mexico is the largest oil producer in the Latin American region. Its reserves of 15 minerals, including gold, silver, copper, lead and zinc are among the largest in the world. Mexico's rich natural resources lay a solid foundation for its future economic development.

Recently Mexico is seeking to diversify its trade with the Pacific region and with Europe, especially in tertiary industries including aerospace, medical equipment; medical services and software information will be the "new pillar" of Mexico's economy.

As Chairman of the MCC, I am pleased to present you with the Doing Business in Mexico Guide, which I hope UK businesses find of interest and help in taking advantage of multiple business opportunities that Mexico has to offer.

Chairman of the Mexican Chamber of Commerce in Great Britain
www.mexcc.co.uk

 

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