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MEXICAN MARKET

Background

The site of advanced Amerindian civilizations, Mexico came under Spanish rule for three centuries before achieving independence early in the 19th century. A devaluation of the peso in late 1994 threw Mexico into economic turmoil, triggering the worst recession in over half a century. The nation continues to make an impressive recovery. Ongoing economic and social concerns include low real wages, underemployment for a large segment of the population, inequitable income distribution, and few advancement opportunities for the largely Amerindian population in the impoverished southern states. Elections held in July 2000 marked the first time since the 1910 Mexican Revolution that the opposition defeated the party in government, the Institutional Revolutionary Party (PRI). Vicente FOX of the National Action Party (PAN) was sworn in on 1 December 2000 as the first chief executive elected in free and fair elections.

Mexico has a free market economy with a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity, natural gas distribution, and airports. Income distribution remains highly unequal. Trade with the US and Canada has tripled since the implementation of NAFTA in 1994. Following 6.9% growth in 2000, real GDP fell 0.3% in 2001, with the US slowdown the principal cause. Positive developments in 2001 included a drop in inflation to 6.5%, a sharp fall in interest rates, and a strong peso that appreciated 5% against the dollar. Mexico City implemented free trade agreements with Guatemala, Honduras, El Salvador, and the European Free Trade Area in 2001, putting more than 90% of trade under free trade agreements. Foreign direct investment reached $25 billion in 2001, of which $12.5 billion came from the purchase of Mexico's second largest bank, Banamex, by Citigroup.

Holidays

Jan 1 - New Year's Day
Feb 5 - Anniversary of the Constitution
Mar 21 - Birthday of Benito Ju¡rez
Mar 25-28* - Easter
May 1 - Labour Day
May 5 - Anniversary of Battle of Puebla(Government, Banks and Puebla)
Sep 1 - President's State of the Nation Address(Government & Banks)
Sep 16 - Independence Day
Oct 12 - D­a de la Raza (Columbus Day)
Nov 2 - D­a de los Muertos (Day of the Dead)
Nov 20 - Anniversary of the Mexican Revolution of 1910
Dec 12 - Virgin of Guadalupe(Government and Banks only)
Dec 25 - Christmas Day

Ps: This festival's date(*)given above is approximation which is subject to change every new year. Besides, there are many local holidays. For details, contact the Mexican Tourist Office. Holidays falling at the weekend are not celebrated on the previous or following weekday.

Phone Code

Country Code: 52
City Code:
Acapulco 744
Aguascalientes 449
Apizaco 241
Cabo San Lucas 624
Cancun 998
Celaya 461
Chihuahua 614
Ciudad del Carmen 938
Ciudad Juarez 656
Cuernavaca 777
Culiacan 667
Durango 618
Ensenada 648
Guadalajara 33
Hermosillo 658
Irapuato 462
Ixtapa 961
Jalapa 932
Juchita 971
Leon 477
Los Mochis 668
Matamoros 871
Mazatlan 669
Merida 999
Mexicali 686
Mexico City 55
Monterrey 81
Morelia 443
Nogales 631
Nuevo Laredo 867
Oaxaca de Juarez 951
Playa del Carmen 984
Progreso 861
Puebla 222
Puerto Vallarta 322
Reynosa 899
Saltillo 844
San Luis Potosi 444
Tampico 833
Tijuana 664
Torreon 871
Veracruz 229
Villahermosa 993

Resources

Market Research

NAFTA Customs Procedures Manual
Marking, Origin, and Customs Procedures for NAFTA countries

Banorte: Mexican Credit Institution
It is an official website of Mexican Credit Institution which provides business opportunities for foreign investments and export financing.

Trade Information

American Chamber of Commerce in Mexico
Information for U.S. Exporters regarding the Mexican market and business opportunities

U.S. Trade and Development Agency
Information regarding U.S. trade and commerce in Mexico

Maquiladora Management Services
A full service maquiladora management services company specializing in subcontracting and consulting services.
 
 
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