Trading with Mexico 1:1
Are you interested in finding out about the rising middle class in Mexico and how you may be able to benefit from current opportunities? Cornwall Chamber is delighted to welcome Laura Atkinson from Mexico Chamber of Commerce for one day to arrange 1:1 appointments and talk through how your Chamber membership can help you reach this exciting new market.
THE BRITISH CHAMBER OF COMMERCE IN MEXICO (BritChaM)
Founded in 1921, the British Chamber of Commerce in Mexico is a non-profit organisation promoting foreign direct investment along with export based economic growth between Mexico and the United Kingdom.
Theirs is a community of over 500 members from various sectors.
BritChaM has a highly active energy sector and annually organises one of the most important sector events: Energy Day.
The commercial section offers:
- Personalised guidance and advice
- Introductions to known and vetted local suppliers
- Introductions to companies in the form of an agenda
- Marketing support
- Recruitment of country managers
- Flexible fully furnished offices and hot desks in their business centre
Mexico is the second largest economy in Latin America, with a higher GDP per capita than any of the BRIC countries. It is also ranked highest in Latin America by the World Bank in terms of Ease of Doing Business. It boasts powerful, global cities with different sector hubs making it an ideal investment and trade hub. Mexico offers an abundance of business opportunities across various industry sectors. With a population of over 120 million and a growing middle class, there is a huge market for British goods, which is about the same size as the whole of Western Europe.
Today, Mexico is the world’s 15th largest economy and is forecasted to be seventh by 2050 (PwC). As a country, it has the largest number of free trade agreements (FTA) in the world and both the British and Mexican governments have indicated that continuing free trade between both countries will be a priority following Brexit. In April this year, the EU and Mexico agreed to an updated FTA that would open up virtually all goods to tariff free trade – including agricultural goods and easier access to government tenders.
- The energy reform of 2013 opened both the oil and gas and electricity markets to international players – including BP, Shell and BHP Billiton and today we are seeing more activity as round winners explore their respective blocks
- The Mexican government committed to sourcing 35% of power from clean sources by 2024 and the recently elected government has a key focus on distributed generation
- Mexico’s manufacturing sector has seen solid growth over the past years, thanks to low average labour costs, a skilled and youthful workforce and various fiscal incentives – particularly in aerospace, automotive, electronics and white goods
- As more and more Mexicans join the middle class, the opportunity for food & drink grows – supported by modernised FTA with EU
- A new Mexican government means a new infrastructure plan for the next sexennial, opportunities include: rail, both passenger and cargo lines, bringing internet to 100% of the country, creating many new public universities, ports, refineries and a new airport.
- Mexico is highly advanced in Fintech and is one of the few countries in the world to have regulation in place to provide certainty to consumers and companies.
- Metal working, mining, tourism, information technologies, education and the pharmaceutical industry offer a plethora of opportunities
Laura is committed to forming and strengthening business and political links between the United Kingdom and Mexico. She started working for the British Chamber of Commerce in Mexico in 2009, and since 2014, she has supported hundreds of companies in exporting to Mexico and learning more about the opportunities the country has to offer UK business.
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