To support your global practice, ACC Docket offers country-specific fun facts from your peers who’ve been there — literally.
| Economy | GDP (purchasing power parity in USD) $2.224 trillion |
| Population | 121,736,809 |
| Corruption | According to Transparency International’s “2014 Corruption Perception Index,” Mexico is the 103rd “cleanest” (i.e., least corrupt) country out of the 175 surveyed. |
| Economic Forecast | Mexico’s economic recovery is strengthening, led by US import demand for manufacturers and a weaker currency. Real GDP is projected to grow by 2.9 percent in 2015 and 3.5 in Firming exports have finally allowed the rebound to gain speed, and investment has begun to regain lost ground. Notwithstanding lower oil prices, new tenders are attracting considerable interest in the wake of the recent energy-sector reforms. Wide-ranging reforms to competition, energy and market regulation have helped boost confidence while monetary policy has been supportive, according to the Organisation for Economic Co-operation and Development. |
| Additional Resources | The News, a Mexican English language newspaper that is published five days a week (Monday – Friday) |
| Mexico Tourism Official Site |
Mexico went from being a closed economy to becoming arguably the most “open” country in the world over the last 30 years. It now has free trade agreements with over 40 countries, including the United States, Canada, Japan and the European Union. Today it is not uncommon for Mexican lawyers to study abroad (mostly LLMs in the United States and Spain), as well as serve as in-house counsel for multinationals for Mexico or the entire Latin American region. There has also been an influx of international full service law firms (primarily from the United States) and outside counsel are well versed in both Mexican and international laws.
Engaging a law firm in Mexico City, Monterrey or Guadalajara is very similar to doing so in the United States or Europe. But there are some differences: Expect approximately 10 to 15 minutes of small talk before getting down to business. Refrain from using first names until invited to do so. Mexicans use two surnames; the first surname listed is from the father, while the second surname listed is from the mother. When speaking to someone use his or her father’s surname.
Mexicans dress formally for business meetings with suits and ties. The exception to this rule is if you are meeting in a very hot region, a port or beach resort. You should also not be surprised if you get invited to a late lunch meeting that starts around 2 pm. Do not be stunned if wine or even tequila is served and if the lunch meeting goes on for more than two hours. The longer it goes the better, as business entertainment is very important and it is during these events that personal relationships are developed.
So when you come to Mexico expect to not only work a lot, but to also attend many long and entertaining social gatherings.
