Mexico is the second largest economy in Latin America and the thirteenth largest importer in the world. It is a leading global importer of electrical machinery, industrial machinery, motor vehicles and parts, oil and mineral fuels, and plastics. Due to its participation in a variety of international trade agreements, Mexico is also an investment destination for businesses seeking to establish regional and global supply chains.
Mexico’s open and highly diversified market offers many opportunities for businesses wishing to import their goods to the country. However, importers should be informed of the complexities of Mexico’s foreign trade system in order to take advantage of preferential trade agreements and avoid fines for non-compliance.
Mexican law empowers the government to regulate, restrict, and prohibit imports of specified goods. The government controls imports for purposes of national defense, on the basis of international commitments, and to protect public health and the national economy.
Import controls in Mexico apply to items such as chemicals, arms, cigarettes, used vehicles, and agricultural products.
SECURUS Strategic Trade Solutions, LLC has published a brief summarizing Mexico’s import regulations in the second quarter of 2019. Please click here to read “Import Regulations in Mexico, Second Quarter 2019.”
The brief’s author, SECURUS Associate Natalia Zamora, describes the dynamic Mexican foreign trade environment: “The Mexican government offers an array of attractive incentives for companies that invest in the Mexican economy. In addition, the high volume of trade has compelled the government to invest in trade infrastructure and update the customs control system. Examples of this can be seen in the extension of operating hours at the Port of Manzanillo, the drafting of a new customs law, and the reorganization of the customs system at Mexico’s ports.”
“Import Regulations in Mexico, Second Quarter 2019” continues the series of SECURUS briefs outlining the trade regulations in major economies around the world. For more information on SECURUS services and how to navigate trade regulations in Mexico and many other countries, please contact us at Info@SECURUSTrade.com.