Doing Business in Mexico

Doing Business in Mexico

By Alejandra Guzman

Click aqui para español- >Estableciendo Negocios en México

Our southern neighbor, Mexico, has a vibrant economy and is the United States’ second largest export market after Canada. Mexico has a large, diversified economy that is linked to its deep U.S. trade investment relations. With 120 million citizens and a rapidly growing middle class, Mexico represents an attractive market for investors and foreign businesses.

Monterrey, Mexico City and Guadalajara are the major business hubs in Mexico. Growing up and working for more than 10 years in Monterrey, I can attest that this city is, in fact, one of the most important business hubs in the country. Monterrey is home to an elite university system, a diverse group of well-established multinational companies, and a burgeoning class of globally-competitive startups.

The cosmopolitan nature of the city created a demand for international education, making it possible for most children to obtain bilingual education starting in preschool all the way to higher education. The Monterrey Tec is the most important higher education system in Latin America and has hundreds of agreements with international universities to support exchange programs. As expected, the culture of internationalization produces a highly competitive workforce.

Recently, Mexico passed reforms in the energy, telecommunications, labor, financial and educational sectors. The reforms are intended to increase the country’s global competitiveness. The energy and telecommunication reforms can offer new opportunities for U.S. firms.

As far as international trade agreements, it is important to watch the development of the “new NAFTA.” Late 2018, the U.S., Canada, and Mexico signed a trade deal to replace NAFTA at the G20 summit in Argentina. It is now known as USMCA - the United States-Mexico-Canada Agreement. Although President Donald Trump, Canadian Prime Minister Justin Trudeau and former Mexican President Enrique Peña Nieto signed the new agreement, it requires ratification by all three governments. Regardless, Mexico is one of the finest destinations for U.S. exporters.

Looking at the Mexico market is worth value. For investors and business leaders interested in this market, there are various resources to consider including the U.S. Commercial Service. Tasked with helping companies to expand, it has locations in Monterrey, Mexico City, Guadalajara and New Orleans. Most recently, the Global Connect coalition began helping to bridge the gap between small and medium-size businesses and global resources and networks.

Partners include the New Orleans Business Alliance, the World Trade Center of New Orleans, GNO, Inc., the Port of New Orleans, the Port of South Louisiana, and Louisiana Economic Development.

Visit NOLABA.org for more information on economic development, Global Connect, and international business events. Until next time!

Alejandra Guzman

Writer/Escritora 

Economic Development/Desarrollo Economico

@aleguzman

Mexico

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Publisher's Note

Ready for the outdoors!

Although we do not have very well defined seasons, the weather changes enough to create different vibes in and around the city.

The moderate Spring weather accompanied with sunny clear skies is inviting to get back to the outdoors and be more active. The backyard also gets more use in the form of the very Louisiana tradition of the crawfish boil, which we learn more about in our food section.

Short day-trips are perfect during Spring and the Northshore offers some amazing destinations for nature and food lovers. Just sitting down on the bank of the Tchefuncte River, looking at the boats pass by can be a relaxing change of pace and scenery.

In this edition, we visit the Northshore to explore some of the Latin restaurants in the area. We will be coming back to enjoy the different places and activities that the Northshore has to offer. St. Tammany hosts a vineyard, a safari, strawberry and blueberry patches, breweries, swamp tours, museums, kayaking, and tubing, among so many other interesting things. The Northshore is the perfect destination when you need a little getaway.

But for now, we prepare to get outdoors in New Orleans to enjoy the great music during French Quarter Fest and to see the national and international superstars coming to Jazzfest. See you out there!

AnaMaria