Mexico’s UK Trade and Investment Opportunities Are Continuously Expanding
While the world is going to changes quicker than before, you might be wondering about an ideal place for investments. In recent years, Mexico City has been getting a lot of attention to the business opportunities available there. There are a lot of reasons behind that which you might find appealing if you come from a British country and looking to invest wisely in El Dorado.
The Trade Deals Between Mexico and the UK are Genuine
Since there are geopolitical changes in the past year, the opportunities between the UK and Mexico are promising. After the eventful 2016, when the Brexit in Europe was voted and US President Donald J. Trump trade deals will surely be reshaped.
The changes are not automatically for the bad, specifically with Mexico. International Trade Secretary, Dr Liam Fox, went for a visit to Mexico so he could meet with the Mexican counterparts. During the meeting, they promise about making changes. When their conversation ended, Fox said that the deal made before by the UK with regards to being part of the UK remains the same. It will also go through improvements when the UK is no longer part of the union by late March of 2019. In 2016, Mexico’s 5th biggest trade partner was the UK within EU. Based on the data gathered by the economy ministry, $5.36 billion annually was achieved from bilateral trade.
The interests of the UK and Mexico’s economic ties became stronger. Of course, Mexicans should also reassess the trade politics in the country after the campaign of President Trump promised to end NAFTA (North American Free Trade Agreement). Most of the time, Trump says it is a disaster for the manufacturing jobs in America and generally the US economy. Currently, 80% of the export from Mexico goes to the US which is why Dr. Liam Fox was very welcome in Mexico.
Why it is Good to Export to Mexico
Today, Mexico is number 2 in terms of the strongest economic standing in Latin America with more potential for investors outside the country. It has received up to $7.95 billion of FDI between January to March 2017.
There is a very high demand for imported products because the middle-class population is growing. It is the rich middle-class that has a high demand for products from Europe. This might have made you think about exporting products coming from the UK, there are steps you must follow in order to succeed in Mexico.
How to Guarantee Success in Mexico City
One thing for you to succeed in this business in Mexico is in field assistance. Consult with a company that deals with the current legal department. Also, consult a team of accountants to make your business operate properly.
Brew Dog, which is a prominent brewing company in Scotland, has started importing their beers since February 2017 to Mexico. A container carrying kegs bottled beers arrive in the Veracruz port every 2 months. From there, a services company from the back office is responsible for managing the logistics and ensure everything goes smoothly through the customs of Mexico. The bookkeeping should not be a concern of the importer in Mexico because local accountants manage their funds. The appointed accountants are knowledgeable about the tax regulations so that exporting goes smoothly. They are thinking of doubling their exports when 2017 ends because the brewing company had a successful importation. It is also because their brand is popular to the people in Mexico.
Mexico’s UK trade and investment opportunities are drawing more business in Mexico, especially the companies that have products which are popular in Mexico. In addition, exporting products to Mexico gets a lot of support from the country.