Download Diapositiva 1 - LatinAmericaBC

Opportunities and advantages
of investing in Mexico
Workshop organized by the Greek – Latin
American Business Council in cooperation with the
Federation of Greek Industries (SEV)
April 28, 2011
Embassy of
Mexico in Greece
Economic Growth
•Mexico was hard hit by the 2009
recession. However, GDP grew
5.5% in 2010.
2010 GDP per capita
(thousand dollars)
20
•Expectations for growth in 2011
are around 4.8 – 5%.
•The IMF forecasted significantly
higher growth for Mexico in 2010
and 2011 compared to the U.S. and
Canada.
15.8
16
14.3
11.3
12
7.5
8
4
3.3
0
•In fact, some analysts foresee a
growth rate of over 4% in the
following years for Mexico’s
economy.
India
China
Brazil
Mexico Russia
Source: IMF.
*Based on purchasing power parity (PPP).
External Driver
•Recovery is being led by exports.
Non-oil exports posted a positive yo-y growth rate of 24% in January
2011 .
Non-Oil Exports
(monthly, adjusted, million
dollars)
25,000
•From the cyclical low of Jan 2009
20,000
to Feb 2011, non-oil exports have
risen 55%.
15,000
•As a result, Mexico is one of the
most competitive countries in
manufacturing and mining.
10,000
5,000
Dec-10
Dec-08
Dec-06
Dec-04
Source: Banxico
Dec-02
smart phones and silver
worldwide.
Dec-00
Dec-98
Dec-96
Dec-94
•Now, is the biggest producer of
Dec-92
0
Domestic Driver
 Total private consumption has picked up significantly since the
second semester of 2009.
 Investment is gradually accelerating.
Gross Fixed Investment
(index, I 2007=100)
Private Consumption
(index, I 2007=100)
106
110
104
108
102
106
100
104
102
98
100
96
98
94
96
92
94
Source: INEGI.
92
I 2007
II 2007
III 2007
IV 2007
I 2008
II 2008
III 2008
IV 2008
I 2009
II 2009
III 2009
IV 2009
I 2010
II 2010
III 2010
I 2007
II 2007
III 2007
IV 2007
I 2008
II 2008
III 2008
IV 2008
I 2009
II 2009
III 2009
IV 2009
I 2010
II 2010
III 2010
90
Source: INEGI.
Discipline in Public Finances
 Discipline in public finances has led to a moderate deficit and a
declining trend in public debt.
General Gov. Financial Deficit 2010
(% of GDP)
Public Sector Debt
(% of GDP)
12
Net Debt
36.0
10
35.2
35.1
35.0
8
HBPSBR
34.8
34.3
33.7
34.0
6
33.0
4
32.0
2
31.0
33.0
30.9
30.7
30.1
30.0
Others Median
Ireland
Spain
Japan
Greece
Portugal
Rumania
Italy
BBB Median
India
Lithuania
South Africa
Hungary
Croatia
Tunisia
Russia
Bulgaria
Brazil
Peru
Mexico*
Mexico**
0
* Observed 2010
** Approved 2011
Source: SHCP, S&P (May 2010) for the rest.
29.5
28.8
29.0
28.2
28.0
27.0
2010
2011
2012
2013
2014
2015
Source: SHCP
PSBR: Historical balance of Public Sector Borrowing Requirements
Inflation and Interest Rates
 Even though inflation suffered a temporary increase at the end of last year due to
an increase in agricultural product prices, it remains below the crisis.
 Inflation target for 2011 is 3.0%
 Domestic interest rates are close to historical minimums, even with the recent
increase due to market uncertainty associated with the European crisis and the
events in Egypt and Libya.
Inflation Forecast (%)
Government Bonds (%)
Inflation 2010: 4.40%
5 years
10 years
20 years
30 years
12.0
2010
11.0
10.0
9.0
Inflation target 2011: 3.0%
2011
8.0
7.0
6.0
Feb-11
Jun-10
Oct-09
Feb-09
Jun-08
Oct-07
Feb-07
Jun-06
Oct-05
Feb-05
Jun-04
Oct-03
Source: Banxico and SHCP
Feb-03
5.0
Sovereign Risk
EMBI Global1
(basis points)
Argentina
Mexico
Composite
2000
1800
1600
1400
1200
1000
800
600
400
200
0
1000
900
800
700
600
500
400
300
200
100
Dec-08
Feb-09
Apr-09
Jun-09
Aug-09
Oct-09
Dec-09
Feb-10
Apr-10
Jun-10
Aug-10
Oct-10
Dec-10
 Mexico’s
sovereign
risk and the differential
between long term
domestic and foreign
rates are close their
historical minimum.
Brazil
1. Emerging Markets Debt Index
Source: JP Morgan
Risk Management
 International reserves amount to 125,304.9 thousand million
dollars (April 20, 2011).
 Additionally, Mexico requested the renewal of the Flexible Credit
Line with the IMF for two more years and 72 thousand million
dollars.
120
115
110
105
100
95
90
85
80
75
70
Feb-08
 The Mexican government contracted
an oil price hedge for 2011.
 The government has the budgetary
and financial capacity to respond to
natural disasters for up to 4
thousand million dollars.
Feb-09
Source: Banxico
Feb-10
Feb-11
Main Strengths of the Mexican Economy
1. Market size: Population of 112.3 million.
2. Large exporting base: The largest
exporter in Latin America.
3. Energy availability: Ranked high in
proven oil reserves and renewable
sources.
4. Demographic bonus: Barely 5% of
workforce are jobless, which has a
median age of 27, compared to 29 in
Brazil, 35.5 in China or 39 in Russia.
5. Ample network of trade and investment
agreements: Free trade agreements with
44 countries (60% of the World’s GDP).
6. Biodiversity. Ranked 4th worldwide.
1
USA
14,226
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Japan
China
Germany
France
UK
Italy
Brazil
Spain
Canada
Rusia
India
Australia
Mexico
Korea
Netherlands
Turkey
Indonesia
Switzerland
Belgium
5,049
4,758
3,235
2,635
2,198
2,089
1,481
1,438
1,319
1,255
1,243
920
866
800
790
594
515
484
461
Source: International Monetary Fund
Ease of Doing Business
•Procedures for opening and closing a business and the time required to obtain
building permits, are critical factors in successful international business.
•In Mexico, an investor only requires 6 procedures and 9 days to open a business.
These numbers are significantly lower than those observed in Brazil, Russia, India
or China.
Number of procedures to start a business
15
15
Brazil
Greece
China
India
14
12
9
Russia
Chile
Mexico
USA
Canada
8
6
6
1
Source: World Bank, Doing Business 2011
Days to open a business
Brazil
Greece
China
India
Russia
Chile
Mexico
USA
Canada
120
19
38
29
30
22
9
6
5
Source: World Bank, Doing Business 2011
Deregulation and Simplification
Mexico is ranked as the best country to establish a business in
Latin America.
Ranking 2011 Doing Business
Singapore
1
Mexico
The ranking measures the behavior in 183
countries of the following variables:
35
Peru
1.
2.
3.
4.
5.
6.
7.
8.
9.
36
Colombia
39
Chile
43
Argentina
115
Brazil
127
0
50
Source: World Bank.
100
150
Starting a business
Dealing with construction permits
Registering property
Getting credit
Protecting investors
Paying taxes
Trading across borders
Enforcing contracts
Closing a business
Advantages for European Companies
1. Competitive manufacturing costs. Cost advantage of 25% in Mexico relative to the US
(China has a cost advantage of 6% relative to the US).
2. Same time zone and quick response toward opportunities in North American
markets.
a. Manufacturing in Mexico makes “Just in Time” easy.
b. Door to door deliveries in less than a week, compared with China where it can
take 6 weeks.
3. Low freight costs
a. Mexico is located in between the main global consumer markets:
Sea freight days to main consumer markets
Target
Germany Brazil
China
Colombia
Korea
USA
India
Mexico
Poland
Turkey
New York
11
15
32
6
21
-
25
5
12
16
L.A
25
23
18
10
17
-
31
4
26
28
Rotterdam
-
17
32
15
33
11
20
16
1
10
Yokohama
35
35
4
24
3
15
17
19
36
27
Source: Sea Rates
Legal Certainty for Foreign Investment
• Agreements on Reciprocal Promotion and Protection of
Investments (RIPPA) are an important part of the government’s
strategy to provide national and foreign investors a legal framework
that offers stronger protection for foreign investment in Mexico and
Mexican investment abroad.
•Mexico has signed 27 of these agreements:
Country
Year
Country
Year
Country
Year
Switzerland
Argentina
1996
1998
Austria
Sweden
2001
2001
Panama
Iceland
2006
2006
Netherlands
1999
Korea
2002
Australia
2007
France
United Kingdom
Portugal
Denmark
Finland
Germany
2000
2000
2000
2000
2000
2001
Italy
Uruguay
Greece
Cuba
Belgium
Czech Rep.
2002
2002
2002
2002
2003
2004
Trinidad & Tobago
Spain
India
Slovakia
China
Belarus
2007
2008
2008
2009
2009
2009
Source: SE (www.economia.gob.mx).
Legal Certainty for Foreign Investment
• Also, Mexico has signed with Greece an Agreements for the
Avoidance of Double Taxation and the Prevention of Fiscal Evasion
with Respect to Taxes on Income and on Capital which came into
force on January 1st, 2006.
Source: SE (www.economia.gob.mx).
Real Exchange Rate Advantage
•Mexico's real exchange rate with the dollar and euro is expected to stay mostly
between 2008 and 2012.
•Countries such as China, South Korea and India are expected to post strong
currency appreciation in real terms against these currencies, giving Mexican exports
a significant advantage.
Expected Real Exchange Rate variation;
respect U.S market (2008-2012)
Expected Real Exchange Rate
variation; respect Euro (German)
market (2008-2012)
13.9%
12.8%
11.1%
12.2%
9.8%
7.4%
8.5%
5.4%
5.6%
Southafrica
Japan
India
Southafrica
Japan
Australia
India
Tailand
Taiwan
South Korea
China
Source: ProMéxico, Global Insight data
Mexico
-0.6%
0.3%
Mexico
5.1%
South Korea
7.3%
Switzerland
6.6% 6.6%
China
6.1%
Source: ProMéxico, Global Insight data
Competitive Labor Costs
Since 2008 Mexico and China have similar labor costs. This turns Mexico
into an excellent export platform for North American and European
markets
Real Exchange Rate
(index, Jan-05=100)
China
Mexico
Hourly Wage in Manufacturing
(dollars)
Brazil
China
130
Mexico
2.5
120
110
2.0
100
1.5
90
80
1.0
70
60
0.5
Source: Central Banks.
Source: International Labor Organization
2010 E
2009 E
2008
2007
2006
2005
2004
2003
0.0
2002
Dec-10
Jun-10
Dec-09
Jun-09
Dec-08
Jun-08
Dec-07
Jun-07
Dec-06
Jun-06
Dec-05
Jan-05
Jun-05
50
Manufacturing Costs
Additionally, Mexico has better manufacturing costs than countries such
as Canada, China, India and Brazil
100%
Netherlands
Italy
14.3% 16.8%
Source: KPMG
Manufacturing cost index relative to
the US. (2005)
Manufacturing cost index relative to
the US. (2008)
100%
96%
112%
82%
94%
82%
74%
75%
Brasil
México
India
China
Brasil
México
80%
India
China
Note: Index includes raw materials, labor, overhead (energy costs, plant and equipment, taxes), freight, duties,
inventory, and exchange rates. Source: Alix Partners 2009
Germany
Japan
France
industrial construction costs,
land, rent, and taxes.
3.6%
7.9%
-20.5%
Canada
2. There are also advantages in
0.2%
7.3%
-0.6%
Mexico
advantage of 20.5% average (of
12 industries) relative to the US.
0.0%
7.1%
U.K.
1. Mexico has a business cost
Australia
Competitiveness findings:
U.S.A.
Average cost advantage /disadvantage relative to
the US (27 input items applied to 12 industries)
Access to Financing
 The Mexican banking system is solid and since the second
quarter of 2010 positive monthly growth in credit has been
observed.
Commercial and Development Bank Credit to Private Sector
(monthly change, 3m. moving avg., %)
Total
Consumption
Housing
Firms
2
1
0
-1
-2
Source: Banxico
Dec-10
Nov-10
Oct-10
Sep-10
Aug-10
Jul-10
Jun-10
May-10
Apr-10
Mar-10
Feb-10
Jan-10
Dec-09
Nov-09
Oct-09
Sep-09
Aug-09
Jul-09
Jun-09
-3
Growing Consumption
 The 2010 recovery of the domestic market is observed in the
increasing trend of retail sales.
Wal-Mart Sales
(index, jan-07 = 100
adjusted, 3m. moving avg.)
95
95
Source: INEGI.
Dec-10
100
Jul-10
100
Mar-10
105
Nov-09
105
Jun-09
110
Feb-09
110
Oct-08
115
Jun-08
115
Jan-08
120
Sep-07
120
May-07
125
Jan-07
125
Jan-07
May-07
Sep-07
Jan-08
May-08
Sep-08
Jan-09
May-09
Sep-09
Jan-10
May-10
Sep-10
Jan-11
ANTAD Sales
(index, jan-07 = 100
adjusted, 3m. moving avg.)
Source: SHCP with information from Wal-Mart.
Good Standard of Living
 The Human Development Index measures education, health and
per capita income.
0.80
Chile, 0.78
Mexico, 0.75
Russia, 0.72
Brasil, 0.70
China, 0.66
0.75
0.70
HDI
0.65
0.60
0.55
India, 0.52
0.50
0.45
0.40
1990
1995
2000
2005
2006
2007
2008
Source: United Nations Development Program (UNDP)
2009
2010
And the Future is Promising
• Mexico has an attractive business environment, legal certainty,
one of the largest free trade agreement networks in the world,
that combines with a wide array of economic sectors with
increasingly competitive cost profile.
• All this factors places Mexico amongst the top choices regarding
investment location.
AT Kearney's “Foreign Direct Investment
Confidence Index 2010” ranked Mexico as the 8th
most attractive economy for foreign investment
position, an improvement of 11th places compared
to the last index published in 2007.
And the Future is Promising
Institutional Legal Framework
Noruega
Suecia
Islandia
Dinamarca
Canadá
12 FTA´s
Estonia
Alemania
7 ACE´s
Estados
Unidos
Finlandia
Letonia
Holanda
Lituania
Reino Unido
27 ARPPI´s
Polonia
Irlanda
Cuba
Rep. Checa
Eslovenia
Bélgica
Hungría
Luxemburgo
Honduras
Liechtenstein
Suiza
Nicaragua
Eslovaquia
Rumania
Costa Rica
Guatemala
Panamá
El Salvador
Colombia
Trinidad y
Tobago
Austria
Portugal
Mercosur
(Acuerdo Marco )
(Acuerdo Automotriz)
Italia
Malta
España
Francia
Grecia
Bulgaria
Chipre
Belarús
Israel
Japón
Australia
Perú
Brasil
Chile
Corea del Sur
Uruguay
India
Argentina
China
Fuente: Secretaría de Economía
And the Future is Promising
Experts’ opinions…
HSBC (2011)
“Mexico’s per capita GDP is expected to be 3 ½ times faster
than the U.S. this decade. Mexico would lead the charge in
Latin America in coming years to become the world’s eight
biggest economy by 2050.”
BCG / Mexico's Evolving Sweet Spot in the Globalization
Landscape (2009)
“Mexico's Sweet Spot in global trade owes itself to several
converging factors: Privileged geographic location, skilled
labor, management talent, labor costs, government
incentives, healthy domestic market.”
And the Future is Promising
Experts’ opinions…
AlixPartners / Manufacturing-Outsourcing Cost Index™
2009
“China’s Total Landed Cost Has Increased to an Average 94% of
Current U.S. Cost… While Mexico’s Position Has Improved
Dramatically (75% of U.S. Cost).”
KPMG / Competitive Alternatives, Guide to International
Business Location 2008
“Among the countries studied, Mexico represents the lowestcost country, with a business cost advantage of 20.5%, on
average, relative to the US baseline.”*
*The study covers 136 cities in ten countries (Mexico, Canada, USA, Australia, France, UK, Netherlands,
Italy, Japan and Germany.
Aerospace Industry
Aerospace industries in Mexico have evolved from simple parts
assembly to highly complex activities such as parts design,
maintenance operations, fuselage assembly, harnesses and
landing gear manufacturing.
1. Aerospace exports have increased from $1.26 billion USD in 2002 to $3.1
billion USD in 2008. An average sales growth of 16.3% per year.
2. Mexico has consolidated itself as the 8th largest supplier of aerospace
components to the US and the 5th largest to the European Union.
3. Out of the 11 aerospace companies with international operations listed in the
Fortune 500, 7 have operations in Mexico.
4. According to KPMG, Mexico has a cost advantage of 30% among the
current leading nations in the aerospace industry.
5. Between 1990 and 2009 Mexico was the main destination of aerospace
manufacturing projects in the world, a fact that reflects the country's
competitive advantages as well as the capacities developed as a center for
advanced manufacturing.
Aerospace Industry
The aerospace industry in Mexico is taking off…
• In 2009, industry-leading companies announced major investments in
Mexico:
1.Cessna and Bell expanded its presence in Mexico through investment projects up to $106
million USD.
2.Aernnova invested more than $100 million USD to set up three factories in Queretaro.
Mexican aerospace
exports
(billions USD) 3.1
Aerospace companies in
Mexico
Aerospace jobs in Mexico
(in thousands)
193
27
2.7
20
2.0
120
1.7
1.3 1.3 1.3
2002 2003 2004 2005 2006 2007 2008
61
67
2005
2006
Source: ProMéxico with data from FEMIA
2007
2008
10
10
2005
2006
2007
2008
Automotive Industry
Mexico’s automotive industry: Among the largest in the world
1. Mexico is the 10th largest manufacturer of motor vehicles.
2. More than 80% of auto parts production is sold abroad.
3. Out of the 28 auto companies listed in the Fortune 500 ranking with
international activities, 27 have operations in Mexico.
4. KPMG places Mexico as the #1 destination for auto parts manufacturing.
5. Companies such as GM, Ford and VW have announced more
investments.
6. Car production in Mexico will pass from 2 million in 2008 to 3.1 million in
2013 according to CSM Worldwide.
Renewable Energies
The renewable energies generate more than 7% of the primary
energy.
• The availability of renewable sources of energy in Mexico offers a great
potential for projects on electrical generation and other applications due
to:
• High potential for mini-Hydroelectrical plants.
• Undeveloped geothermical camps.
• High-intensity wind zones.
• High levels of insolation.
• Big volumes of energy crops.
• Need to dispose biomass residues in cities and fields.
Renewable Energies
• Mexico has an effective generation capacity of 13,400 MW, which
represents 24% out of total electrical capacity.
•19% out of total energy for public services is generated by renewable
sources.
Renewable
Sources
Hydro electric
Mini-hydro
electric
Geo thermal
Biomass
Biogas
Solar
Wind driven
Total
Source: CFE.
Public
Selfelectrical
Independent
consumption
company
10,930 MW
365 MW
108 MW
960 MW
474 MW
33 MW
18 MW
87 MW
12,342 MW
434 MW
1,049 MW
18 MW
Renewable Energies
Policies and incentives for the development and
implementation of renewable energies.
1. Zero duty on equipment to prevent pollution and promote research
and technological.
2. Accelerated depreciation for infrastructure projects that use
renewable sources of energy: up to 100% in a year.
3. 30% tax credit for research and development (CONACYT).
4. Interconnection contracts for intermittent sources of electricity (CFE).
5. Kyoto Protocol can use the figure of the Clean Development
Mechanism for obtaining Certified Emission Reductions.
6. Interconnection agreement for small-scale solar power on the type of
net metering.
Other Industries with Great Opportunities
Electric and Electronic
devices
IT Services
Second Homes
•
Competitive advantages in smaller delivery times, qualified labor force,
high quality-high yield production, flexibility.
•
•
18 Fortune 500” firms operate in Mexico.
•
The IT Services market value reach $4.2 billion USD; it grew 14% in 2008.
•
Mexican IT companies exported $2.9 billion USD in 2008.
•
Out of 51 Fortune 5000 companies with international operations, 36
operate in Mexico.
•
More than 6.5 million Americans live outside the US; out of those 1.2
million live in Mexico.
•
International Living magazine has ranked Mexico as the best country to
retire to for two straight years out of 29 nations.
•
For the second year in a row, Mexico was granted the Agents’ Choice
Award 2009 as the best winter tourist destination
Between January and October 2009, the sector recorded exports of $62
billion dollars, 41% of Mexico’s manufacturing exports.
Other Industries with Great Opportunities
That’s not all… ProMéxico has identified great investment opportunities
in the following industries:
1. Processed foods
2. Chemical
3. Pharmaceuticals
4. Medical devices
5. Logistics and infrastructure
6. Heavy industries
7. Software
8. BPO’s (Business Process Outsourcing)
A New Industrial Policy
Coordinated efforts between Federal and State Governments are
producing a new Industrial Policy
High priority sectors
Future bets
Domestic market growth
(Focus: Attract investments and
promote industrial development)
(Focus: Government support to
promote industrial development)
(Focus: To promote a healthy
development)
1. Manufacture of transportation
equipment
2. Manufacture of machinery and
equipment
3. Manufacture of electrical and
electronic equipment
4. Mining (excluding petroleum
and gas)
5. Support services to businesses
(i.e., call center)
6. Food industry
7. Health care
8. Temporary accommodation
services
1. Farming of vegetables, fruit
and flowers
1. Housing
2. Commerce
2. Software
3. Financial services
3. R & D services
4. Services of Architecture,
Engineering and Design
5. Music, film, radio and television
Development platforms
(To promote competition, a better regulation and investments)
1. Infrastructure
2.
Telecommunications
3.
Education services
Competitiveness
Additionally, specific actions to increase Mexico’s competitiveness have
been implemented during the last years.
1. Strong investment on infrastructure with the objective of reducing logistic and
transportation costs.
2. A Foreign Trade Simplification Program oriented to simplify customs
procedures and operations.
3. An aggressive schedule to unilaterally reduce import tariffs (the average tariff
will decrease from 10% to 8.3% immediately, and then to 4.3% by 2013)
4. Easing the regulation to start companies, in order to make the business
framework more efficient, transparent and predictable
5. Strengthening public finances and macroeconomic stability
Competitiveness
6. A Program for the development of Small and Medium Businesses (The
“México Emprende” trust will have 628 millions USD to detonate credits for
22.4 billion dollars during the period 2009-2012).
7. Initiative “Better education for life and work” (creates an educational culture
based on productivity and promotes student competitiveness since the initial
years of education).
8. Higher funding for science, technology and innovation (Federal Expenditure for
science and technology is around 3.5 billion USD)
9. Consolidation of the quality of academic bodies (the National System of
Researchers is integrated by nearly 15,000 members working on science and
technology)
10.Criminal Justice Reform and Public Security (The reform provided new and
better tools for reinforcing criminal investigations)
Security Matters
•During the last years, the Government of Mexico has spared no
effort to strengthen public security throughout the country and will
continue to do so. The fight against organized crime in Mexico is a
necessary part of that effort.
• All countries “must shoulder together this responsibility” by
increasing cooperation to effectively fight and defeat the cross
border drug trade which supplies developed markets and fuels
much of the criminal activity and violence in Northern Mexico.
Security Matters
Bilateral Trade and Investment Flows
Despite the FTA and the Strategic Partnership between Mexico and the
European Union, trade and investment flows with Greece are still low.
Million USD
Total trade
Exports to Greece
Imports from Greece
Balance to Mexico
2007
2008
2009
2010
139.3
34.01
105.3
-71.3
308.8
30.9
277.8
-246.8
80.7
28.05
52.7
-24.6
138.8
28.05
110.7
-82.7
Source: SE (www.economia.gob.mx).
Main Exports to Greece
Main Imports from Greece
Seafood
Shaving products
Tequila
Olive oil
Chickpeas
Tobacco
Aircraft auto parts
Books
Source: SE (www.economia.gob.mx).
• According to the National Registry for Foreign Direct Investment 20092010, there are only 20 Greek enterprises in Mexico.
Potential Market
• According to TradeMap of the International Trade Centre, there is
a big potential market between Mexico and Greece in the following
economic sectors:
• Automotive industry.
• Pharmaceutical industry.
• Software industry.
• Medical devices.
• Electrical appliances (televisions).
Final remarks
México: “Sweet Spot” for higher profits
1. Production and logistic savings turn Mexico into a solid alternative for higher profits.
a. This is crucial in a world economy characterized by intense global competition.
2. Mexico’s competitiveness is being enhanced by the government’s massive
infrastructure programs, a growing human capital base and the development of high
value added industries.
3. Among the world’s largest and most dynamic economies for the next decades (BRIC’s
and N11), Mexico has a privileged place due to its location and the size of its
domestic market.
4. It is because of this advantages that many analysts around the world,
consider Mexico to be the “sweet spot” for solid, high yield, high profit
operations.
7th World Chambers Congress
• Mexico will host the 7th World Chambers Congress (WCC) on 8-10 June
2011.
•The WCC will take place in Mexico for the very first time in Latin
America.
•The WCC is the only international forum for chamber executives
worldwide and business leaders dedicated to share best-practice
experience, develop networks and learn about new areas of innovation.
•This Congress will focus on the new economy, the building of a green
economy and social corporate responsibility.
Mexico is opportunity
How to do business in Mexico
RELEVANT DOCUMENTS FOR THE PROMOTION OF THE ECONOMIC AND COMMERCIAL RELATIONS BETWEEN
MEXICO AND GREECE
1. Mexico: Business opportunities and legal framework. Basic guide for foreign investors
2. Mexico: Business opportunities and legal framework. Supplementary materials
3. Economic outlook for Mexico, March 2011
4. Mexico's Strengths
5. Doing Business 2011
6. Competitive Alternatives. KPMG´s guide to international business location, 2010 edition
7. Mexico's evolving sweet spot in the globalization landscape
8. Manufacturing-Outsourcing cost index. Overview & Highlights
9. Trade Links: Mexico, best place for business in Latin America
10.Negocios ProMéxico: Mexico building its path to success
11.Trade indicators between Mexico and Greece
12. Mexican Web Sites Links
ECONOMIC AND COMMERCIAL LEGAL FRAMEWORK BETWEEN MEXICO AND GREECE
1. Economic Partnership, Political Coordination and Cooperation Agreement between the European Community
and its Members States and Mexico
2. Agreement between the Government of the United Mexican States and the Government of the Hellenic
Republic on the promotion and reciprocal protection on investments
3. Convention between the Hellenic Republic and the United Mexican States for the avoidance of double
taxation and the prevention of fiscal evasion with respect to taxes on income and on capital
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Embassy of Mexico in Greece
Platia Filikis Eterias 14 / 5
106 73, Kolonaki – Athens
Greece
Tel: (+30) 210 729 4780 / Fax: (+30) 210 729 4783
http://portal.sre.gob.mx/grecia
For further information please do not hesitate to contact to:
Mr. Julio Escobedo
Embassy of Mexico
Athens, Greece
[email protected]
Mr. Oscar Camacho
Mexican Trade Commission
Milan, Italy
[email protected]