TTACC hosted a delegation from Mexico City Mr. Arturo Mendicuti Narro, President, Mexico City National Chamber of Commerce. Lorenzo Ysasi,Vice Chair World Chambers FederationLic.Roman Vidal Tamayo, International Business Network Director, Mexico City National Chamber of Commerce joined TTACC Reception&Forum ‘Invest and Trade Oppurnity in Mexico'

Mexico has a free market economy in the trillion dollar class. It contains 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 generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Trade with the US and Canada has nearly tripled since the implementation of NAFTA in 1994. Mexico has free trade agreements with over 50 countries including, Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan, putting more than 90% of trade under free trade agreements.

In Forum Audience got very useful information and datas about Trade between USA Mexico and Turkey Mexico.

Geographic and Demographic Data

Land Area:

1,972,000 square kilometers; 769,000 square miles.

Location:

Borders immediately south of the United States, in-between the USA and Central America. Mexico is classed as a member of Latin American nations, and is part of the North American Continent (not South America as often thought and sometimes quoted).

Population:

107 Million in 2008 (Source: INEGI, derived from 2005 census data)

Capital City:

Mexico City, with an estimated population and catchment area of over 20 million people.

Language:

Spanish is the official language, but around 50 different languages are also spoken by the indigenous peoples of Mexico, including Nahuatl, Zapotec, Otomi and (in the Yucatan region) various Maya languages.

Religion:

c. 90% Roman Catholic.

Government:

Federal Republic, democratically elected President, bicameral Congress.

President:

Felipe Calderon Hinojosa; Sworn in Dec. 1, 2006 for a non-renewable six-year term.

Economic Data and Indicators

Currency:

Mexican Peso (100 centavos = 1 Peso).

GDP:

GDP in 2008 was US$877 billion; an increase of 1.3% from 2007.

Oil and natural Gas, Remittances to Mexico from Mexicans working in the USA and Tourism are (in that order) currently Mexico's three biggest sources of foreign income.

GDP Annual Growth/Decline:

The original government estimate for 2009 was for a contraction of around 2.8% in comparison to 2008; however, the Swine Flu epidemic in the spring of 2009 caused the Finance Ministry to revise this figure downwards to -4% and the Central Bank to revise the figure down to -4.8%.

Inflation:

Inflation in 2008 was 6.5%, up from 3.8% in 2007. The Bank of Mexico's target is 3%, and inflation is expected to be about 4% in 2009.

Mexico's Current Sales Tax Rate

Sales tax in Mexico is known as IVA (Impuesto al Valor Agregado). Mexico has two sales tax rates: 10% in the border zones and 16% everywhere else. The current rate of sales tax on all goods and services classed for the application of IVA is 16% unless the transaction takes place inside the 'border zone' in which case the lower rate of 10% will apply.

Minimum Daily Wage:

The official daily minimum wage in Mexico for 2010 rose by 4.85%.

The minimum salary in "Geographical Area A" is MX$57.46 pesos per day; "Geographical Area B" MX$55.84 pesos a day; and "Geographical Area C" MX$54.47 pesos. .

Area A: The states of: Baja California, Baja California Sur, Mexico City; some municipalities of the states of: Mexico, Sonora, Tamaulipas Veracruz and Chihuahua.

Area B: The states of: Jalisco, Nuevo León and some municipalities of the States of: Sonora, Tamaulipas y Veracruz (not covered by A, above).

Area C: The states of: Aguascalientes, Guerrero, Quintana Roo, Nayarit, Oaxaca, Puebla, Querétaro, San Luis Potosí, Sinaloa, Tabasco, Tlaxcala, Yucatán, Zacatecas, Morelos, Michoacán, Hidalgo, Guanajuato, Durango, Chiapas, Coahuila, Campeche, and some munipalities of Veracruz, Nuevo León, Sonora, Tamaulipas, Jalisco, and Chihuahua (not covered by A and B, above).

Economic Activities:

Oil and gas, tourism, mining, chemicals, iron and steel, motor vehicles, agriculture (coffee, sugar, tomatoes, avocados, tobacco) food and beverages, consumer durables.

Major Trading Partners:

USA, Canada, UK, China, Japan.

NAFTA

Mexico is a member of NAFTA (North American Free Trade Agreement).

Other Free Trade Agreements

Besides NAFTA, Mexico has FTA's with over 40 countries world-wide including The European Union and Japan.

Lorenzo Ysasi,Vice Chair World Chambers Federation told about The World Chambers Congress has been consolidated as the most important world event of the business sector and there has allowed a major interaction and generation of new solutions to support the businessmen, particularly to the small and medium companies worldwide.

The seventh edition of this congress will be carried out by the first time in a Latin-American country, being host the Mexico City, one of the most important cities of the world. As organizers, the Mexico City National Chamber of Commerce has the pleasure of inviting you to attendance to this event that undoubtedly will strengthen the linkness of the countries of thia continent and that will allow to other regions to know the potential of the market, Latin American region mainly, in benefit of a better economic world development.

We can guarantee to you not only our programme will allow to you reinforce your business or professional activities, but also you will enjoy our city, the country and the warmth of our people.

They invited to Celil Yaka president of TTACC and membes of TTACC World Chambers Congress  in Mexico City June 8 to 10, 2011.