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Business In Mexico – The Opportunities

By Joshua Adekane

Mexico is the only country in Latin America that shares its borders with the United States of America. Thanks to this strategic location, it has greatly benefited from this proximity and is home to a multitude of factories catering to the American market. In this article, you will learn more about this country and how you can start doing business.

Business Information about Mexico

Its capital is Mexico City with a population of approximately 120 million people. The main language is Spanish although the Spanish community will widely speak English.

Mexico’s main trading partners are the USA, Canada, Germany, China, Japan and South Korea. It most important industries are food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables and tourism.

Mexico was the country in Latin America that was the hardest hit by the global financial crisis due to its strong dependence on the United States. Its negative -6.5 GDP in 2009 gave a big blow to its economy. Thankfully, they are steadily recovering and is predicted to show positive growth rates for 2010.

Despite the fact that Mexico has been suffering from drug related violence, it remains a strong manufacturing country thanks to lower taxes, labor and overall expenses.

In order to do business successfully in Mexico, you will need to adapt to the local customs. Dressing is usually conservation for both men and woman. People working in the high tech industry are usually dresses more casual.

Make sure you arrive on time to your meetings. Most of your potential business partners will usually also arrive on time. Be ready for your meetings to continue into lunch so do not schedule too many meetings in a day.

Keep in mind that in order to do business in Mexico, you need to concentrate of building a relationship based on trust. Once this is achieved, try not to change your team as you might risk to start all over again. Business in this region takes longer to conclude a contract therefore be prepared to make several trips.

Gifts are usually not expected although a small token is always appreciated. Valuable gifts can be given when the relationship becomes more serious.

As you can see, doing business in Mexico presents endless opportunities for international companies looking to expand to new markets. Be careful to respect the etiquette of the country and you will be off to a very good start.

Joshua Adekane specializes in assisting companies on how to successfully build and grow their business in Latin America and the Caribbean. To get instant access to tools and resources, click here Mexico exports. For more information about this dynamic market, click here B2B Mexico

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Article Citation
MLA Style Citation:
Adekane, Joshua "Business In Mexico – The Opportunities." Business In Mexico – The Opportunities. 24 Jul. 2010. uberarticles.com. 8 Mar 2016 <http://uberarticles.com/business/business-in-mexico-the-opportunities/>.

APA Style Citation:
Adekane, J (2010, July 24). Business In Mexico – The Opportunities. Retrieved March 8, 2016, from http://uberarticles.com/business/business-in-mexico-the-opportunities/

Chicago Style Citation:
Adekane, Joshua "Business In Mexico – The Opportunities" uberarticles.com. http://uberarticles.com/business/business-in-mexico-the-opportunities/


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