A UNIQUE OPPORTUNITY TO…
- Understand the Mexican business context and its evolution
- Assess your expansion strategy on the Mexican market
- Find out about business opportunities for your company
- Hear testimonials from Quebec entrepreneurs who have found success in Mexico
- Create or broaden your network of contacts on the market
The world’s eleventh largest economy, Mexico is also the second largest economy in Latin America, after Brazil. This OECD member and leading exporter in Latin America has entered into free trade agreements with over forty countries, including the United States and Canada through the North American Free Trade Agreement (NAFTA), as well as with the European Union.
Mexico is one of the leading recipients of foreign direct investment in Latin America. The country proudly boasts strong political institutions, as well as a large domestic market, not to mention the existence of world-class Mexican industrial groups (Cemex, Telmex, Pemex, Grupo Modelo, Bimbo, and several others).
Mexico is a key economic partner for Quebec: its fifth largest in the world, and first in Latin America, according to figures from the Ministère des Finances du Québec.
While NAFTA allowed for an increase of trade in goods of 58.8% between Quebec and the United States from 1993 to 2011, trade between Quebec and Mexico increased 800% during the same period.
Today, over 600 Quebec companies actively export to Mexico, which is the province’s leading partner in Latin America. A modern country that is open to the world, Mexico is showing solid growth and has extensive experience in the business world. Many sectors offer business opportunities that are especially promising:
- Transportation and infrastructure: (accordéon +) The 2013-2018 national infrastructure plan calls for major public and private investment in a high number of initiatives involving infrastructures and transportation, notably for railways (three new railway lines), ports (expansion/modernization of three ports), and airports (increased capacity of existing airports).
- Information technology and telecommunications: (accordéon +) Mexico is a magnet for companies in the IT sector because of the many advantages it has to offer, including its highly qualified labour.
- Life sciences and medical equipment: (accordéon +) Health has been one of the government’s priorities in recent years. The entire population of Mexico is soon expected to have access to health insurance. With a population of over 100 million individuals and high rates of cancer, obesity, diabetes, and cardiovascular disease, Mexico is a market with strong potential for medical equipment—in which few local producers exist—and for pharmaceutical products.
- Aerospace: (accordéon +) Mexico has positioned itself as a global leader in the aerospace sector. It has posted a growth rate of about 20% per year since 2004. The growing number of investment projects ranks the country among the most competitive as far as manufacturing and subcontracting go, as well as in terms of industrial processes relating to the sector.
- Agri-food: (accordéon +) The growth of the middle and upper classes is leading to an increase in demand for quality processed products. The proliferation of new modern supermarkets is transforming the Mexican market structure: there is a diversification of suppliers.
- Energy and green technology: (accordéon +) The government agenda calls for a reform of the entire energy sector in order to stimulate investments and positively contribute to the country’s economic growth. Wind and solar energy are particularly welcome.
A few facts about Mexico:
- The world’s 11th largest economy in terms of purchasing power (2013)
- GDP growth of close to 4% in 2012 according to the IMF. According to forecasts, sustained growth is expected for the coming years
- The 2nd largest economy in Latin America
- 16th in the world in terms of the value of its imports (about $370.7 billion USD in 2013 – World CIA Factbook)
- Ranked 5th in terms of worldwide Canadian exports (valued at $5.4 billion USD in 2013 – Statistics Canada)
- A country in which about 2,300 Canadian companies are active (Industry Canada)
- In addition to its NAFTA membership, the country has signed a great number of commercial treaties that link it to many countries in South America, Asia, and the European Union
WHO SHOULD ATTEND?
All companies seeking to develop their business in Mexico or that want to learn more about this market.
Keep an eye on our Latin NAFTA partner!