The British Chamber of Commerce featured in the International Trade Magazine,
a quarterly publication focus’ on Chamber Export news, from our friends from Essex Chambers of Commerce
As the second largest economy in Latin America, Mexico offers an abundance of possibilities, in many different sectors. The main language is Spanish, but English is widely used and understood. Mexico has a fascinating history dating back to its powerful and influential ethnic groups such as the Mayans and Aztecs as well as a strong European influence due to the Spanish invasion in the 16th century. The 1994 establishment of NAFTA opened Mexico up to an influx of American culture and goods as well as propelling Mexico’s manufacturing sector. A population of over 120 million and a growing middle class means that there is a huge market for British goods. Current GDP per capita stands at 10,000 USD, but analysts predict that by 2050 Mexico’s economy will be in the top 10 in the world. While Mexico has a beautiful culture, nature and traditions, it also boasts powerful, global cities with different sector hubs.
Mexico is the country with the most free trade agreements (FTA) in the world. Besides the FTA Mexico has with the European Union, they have FTAs with over 40 countries. In the uncertainty following the results of both the Brexit vote and the U.S. election, the Mexican and British governments have both been keen to stress that establishing a new Free Trade Agreement between the two nations is a top priority.
Mexico is a major oil exporter, though a great deal of their potential has not been realised due to the 75-year monopoly the state has had on oil and gas. The current energy reforms, where not only the market for oil and gas – but also for electricity – has been opened up to new players, have already increased oil production, though there are many more opportunities in this market.
Click here to read the article.
Our friends and colleagues from the Norfolk Chamber of Commerce have shared with us a very interesting article regarding doing business in Mexico!
“There are many more interesting, steadily growing sectors in Mexico:
- They are the leading exporter of electronics in Latin America, with an average growth rate of nearly 7%.
- The food sector contributes heavily to current trade with the UK, and Mexico has a strong position worldwide in multiple food subsectors, including coffee, cacao powder, avocadoes and meat.
- The Mexican government has an ambitious national infrastructure plan with opportunities for private companies in large construction projects.
- Also metalworking, mining, tourism, Information Technologies, education and the pharmaceutical industry are sectors with a plethora of opportunities.”
Click here to continue reading.
The British Chambers of Commerce Organisation (BCC) has launched their latest podcast, discussing the new tax year and what the changes will mean for business (and how they can prepare) is now live.
It was recorded before the attack in Westminster, but they have included a short tribute at the beginning of the podcast.
Click here to access the podcast https://audioboom.com/posts/
Audioboom – a very easy-to-use hosting platform that works on all mobile devices. You can download the app and follow the British Chambers of Commerce via the link here: https://audioboom.com/channel/
You can as always subscribe via iTunes as well – https://itunes.apple.com/gb/