Since the implementation of Nafta (North American Free Trade Agreement) in 1994, trade in the middle of Mexico, the United States, and Canada has tripled.
Mexico is carefully the 12th largest economy in the world. roughly 90% of Mexican trade is operating under free trade agreements with over 30 countries. Today, roughly 90% of Mexican exports enter the United States and Canada and roughly 65% of its imports come from these two countries. (Statistics and details referenced from Wikipedia.com)
Mexico is one of the most trade amiable countries nearby the world. Listed here are some of the regions and countries engaged in free trade agreements with Mexico:
The European Union, Israel, Columbia, Venezuela, Bolivia, Costa Rica, Nicaragua, Chile, El Salvador, Guatemala, Honduras, Argentina, Brazil, Uruguay, Paraguay, Iceland, Liechtenstein, Norway, Switzerland, and Japan.
Mexico imports primarily from the Usa and China. This offers exquisite export opportunities for associates in the Usa interested in locating new markets for food, beverage, textile, clothing, and other buyer durables products (automobiles, appliances, furniture, and electronics).
In 2000, the 31 states of Mexico represented the economic position of what China is today; a low-cost manufacturing capital for high-volume goods production. Much like other countries, most of that manufacturing has now moved to China. The niche for Mexico today has changed to a town for manufacturing low to medium volume products with high complexity and size, such as curative equipment, network communications, and automotive/aviation components (data and statistics adapted from Wikipedia.com)
Mexico is not the lowest cost country for yield (at least four times higher for labor than China). However, the offset in delivery wait time, lower shipping costs, and the ability for North American firm people to speak with yield facilities in the same time zone, is very favorable.
Benefits to trade with Mexico:
Mexico is actively developing and utilizing secured intellectual asset laws to protect very sophisticated projects outsourced for yield in Mexico.
Working with Mexico presents fewer hidden costs (lower shipping costs, minimal inbound duty payments).
Delivery wait time is ordinarily lower than China.
Many English speaking representatives exist on site or work in Usa based subsidiaries (many Mexican products are warehoused in Usa facilities).
Culturally, Mexicans are open and honest firm people. However, much like the Chinese culture, Mexicans avoid directly saying "no". They often see the word as direct and pushy. More often than not, a "no" can mean "maybe" or "later". Keep this in mind when negotiating ageement terms or requesting distinct capabilities from suppliers and factories. (adapted from executiveplant.com, Mexican firm etiquette).
Some of Mexico's highest commodity imports: computer accessories, passenger cars (new and used), semiconductors, motor parts, and plastics. (Compiled from the Us census bureau trade division)
Some of Mexico's highest commodity exports: computers, apparel and household goods, passenger cars, video equipment, and wine & connected products. (Compiled from the Us census bureau trade division)
With Mexico's high tech capabilities, reasonably low labor rates, and its free trade status with over 30 countries, Mexico is an dxquisite partner to think with respect to trade and outsourcing. The country is eager to engage in international business, is taking measures to growth and impose its intellectual asset protection, and willing to adapt your international trade and manufacturing outsourcing needs. Mexico can help your firm accomplish good outsourcing results by increasing your profit margins with lower hidden costs, minimal duty charges, and shorter goods delivery times. think Mexico for your next international project.
International Trade With Mexico - One Of The Most Trade amiable Countries In The World