Competitive sectors in Mexico

Competitive sectors in Mexico

Competitive sectors in Mexico

US-Mexico Economic Relations

US-Mexico Economic Relation

Ten Reasons to Invest in Mexico

Ten Reasons to Invest in Mexico

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June 2014 – Mexico’s Comprehensive Financial Reform: For Inclusive Development

Mexico’s Comprehensive Financial Reform: For Inclusive Development

On January 10, 2014, Mexico’s President Enrique Peña Nieto implemented a significant multi-layered financial reform, amending a number of federal laws with the aim of boosting Mexico’s economic growth by increasing the availability and quality of financing in the country while strengthening the banking system’s institutional framework.

Mexico’s Livestock: Rising as a Global Producer

Mexico has become a globally competitive livestock producer, having all the essential elements needed to respond to the increasing worldwide demand for high quality products, and to attract investments along its supply chain.

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May 2014 – Energy Reform: Powering Mexico’s Economy

Energy Reform: Powering Mexico’s Economy

On December 20, 2013, President Peña Nieto signed into law a landmark energy bill approved by the Mexican Congress. The Energy Reform amended articles 25, 27 and 28 of the Mexican Constitution with the aim to transform the country’s energy sector by opening up oil, gas, and electric energy generation to private investment and setting the general framework to provide the legal certainty required to power Mexico’s economy. On April 30, 2014, President Peña Nieto introduced to Mexico’s Congress nine new bills, as well as amendments to several existing laws, to implement the constitutional energy reform.

Mexico’s Automotive Industry: an Engine for Growth

Since the implementation of NAFTA, the automotive industry in the North American region has significantly grown and is now highly integrated, transforming its structure into an increasingly export oriented regional sector. The three NAFTA partners together exported over $134 billion in vehicles in 2013, an increase of 106% with respect to 2001. Read more

April 2014 – Mexico’s Customs Reform for Trade Facilitation

Mexico’s Customs Reform for Trade Facilitation

Mexico’s tax and customs reforms show the Mexican government’s strong commitment in boosting the country’s competitiveness, and improving its attractiveness for doing business. They also prove the country’s willingness to make North America the most prosperous and competitive region of the world and its determination to increase and facilitate trade with its world partners. Besides, these reforms will promote investment, and transparency, and the simplification of procedures related to foreign trade.

Mexico’s Services Economy

The services industry is one of the most dynamic sectors in the world economy, and Mexico is undoubtedly a case in point in this trend. Mexico has a vibrant service economy in which the service sector contributes with 62% of the GDP and employs 58% of its workforce. All sectors of the Mexican economy, including manufacturing and agriculture, depend on services. Read more

March 2014 – US – Mexico Trade Reaches New High

US – Mexico Trade Reaches New High

The trade relationship between Mexico and the United States demonstrated another solid performance as products traded between both countries set a new historical record at $506 billion in 2013. Over the 20 years of NAFTA, trade between Mexico and the U.S. has more than sextupled, growing nearly 10% annually.

2014 North American Leader’s Summit: Working Together for a Brighter Future

On February 19, 2014, Mexican President Enrique Peña Nieto, U.S President Barack Obama and Canadian Prime Minister Stephen Harper met in Toluca, Mexico, for the North American Leader’s Summit. In order to successfully face the economic challenges of the 21st century, the three leaders reiterated the importance of closer collaboration, increasing economic competitiveness for the North American region, and enhancing trade among the NAFTA partners. Read more

January 2014 – Mexico’s Tax and Social Security Reform Approved

Mexico’s Tax and Social Security Reform Approved

On October 31st, 2013, the legislative process for a new tax reform culminated with its approval by the two chambers of the Mexican Congress after intense negotiations began when Enrique Peña Nieto, President of Mexico, submitted its tax overhaul proposal for congressional consideration on September 8th. The tax reform has the goals of strengthening the capacity of the Mexican state to provide a better response to the needs of the population, and enhancing the country’s macroeconomic stability.

U.S.-Mexico High Level Economic Dialogue

The United States and Mexico are both critical economic partners and strategic allies. In this regard, in May 2013 President Obama and President Peña Nieto announced the establishment of the High Level Economic Dialogue to advance strategic economic and commercial priorities central to promoting mutual economic growth, job creation, and global competitiveness. Read more

November 2013 – Mexico Deepens Trade Integration with Panama

Mexico Deepens Trade Integration with Panama

This past May, the leaders of Mexico and Panama decided to strengthen bilateral economic relations with the negotiation of a free trade agreement (FTA). The agreement will allow Mexico to deepen its trade and economic integration with Panama and Central America by promoting greater reciprocal investment flows and at the same time fostering the diversification of Mexican exports.

The Blossoming Fruit Industry in Mexico

Since the North American Free Trade Agreement (NAFTA) came into effect, Mexico’s agricultural industry has undergone an important transformation that has taken it from an economy with domestically consumed agricultural products, to one with a free market where agricultural goods, such as fruits, are successfully exported globally. Read more

October 2013 – Mexico Sets Record-Breaking Investment Inflows

Mexico Sets Record-Breaking Investment Inflows

Mexico’s attractiveness as an investment destination is increasingly rapidly, with solid expectations of long-term economic growth driving foreign direct investment (FDI) flows into the country’s wide range of globally competitive economic sectors. In the first half of 2013, Mexico received $23.8 billion in FDI, 2.5 times higher than the same period in 2012, setting record-breaking investment inflows.

The Mexican Footwear Industry Provides Shoes for the World

Mexico’s footwear industry has been undergoing major changes over the last decade. The new challenges of a highly competitive global market are setting the bar quite high for a large number of companies in the sector. In this regard, new innovation projects are being developed in Mexico. And these efforts are paying-off; Mexico is currently ranked number 8 in global footwear production. Read more

September 2013 – Mexico Reinforces its Commitment with Climate Change Agenda

Mexico Reinforces its Commitment with Climate Change Agenda

On June 3, 2013, Mexico issued a new National Climate Change Strategy aimed at transitioning toward a competitive, sustainable and low carbon emissions economy. The strategy details the lines of action to be implemented at the three levels of government in order to combat and mitigate climate change-related effects in the country in the long-term.

Mexico’s Tech Services Industry is a Global Player

The Mexican IT industry is rising as the most important tech services provider to the U.S. and Canada, in large part, due to its geographical proximity, strong intellectual property protection, human capabilities and NAFTA market access certainty. Read more

August 2013 – Mexico’s Infrastructure Strategy: Opening Investment Opportunities

Mexico’s Infrastructure Strategy: Opening Investment Opportunities

On July 15, 2013, Mexican President Enrique Peña Nieto announced a six-year plan to invest over $300 billion dollars in infrastructure with public and private funds in the transport, telecommunications, water and energy sectors.

The Electrical Manufacturing Industry in Mexico

The electrical manufacturing sector is becoming increasingly important to the Mexican economy. Prospects of further growth bring companies and other stakeholders in Mexico together to cooperate on harmonized standards to expand production and facilitate trade. Read more

July 2013 – Mexico’s National Development Plan 2013-2018: Bring Mexico to its Full Potential

Mexico’s National Development Plan 2013-2018: Bring Mexico to its Full Potential

On May 20th, 2013, President Enrique Peña Nieto of Mexico released the National Development Plan 2013-2018 which establishes the current Administration goals and policy actions for the country. The policy guidelines are aimed at boosting Mexico’s economic growth and social development.

Mexico Improves Ranking in Global Competitiveness

Mexico improved its ranking in the International Institute for Management and Development (IMD) study on global competitiveness, climbing 5 spots from number 37 in 2012 to number 32 in 2013. Read more