April 28, 2011

April 28, 2011

Opportunities and advantages of investing in Mexico

Embassy ofMexico in Greece

Workshop organized by the Greek – Latin American Business Council in cooperation with the

Federation of Greek Industries (SEV)

Mexico’s Economic Outlook

Forecast for Real GDP Growth 2010(by date of forecast)

Economic Growth

• Mexico was hard hit by the 2009 recession. However, GDP grew 5.5% in 2010.

• Expectations for growth in 2011 are around 4.8 – 5%.

• The IMF forecasted significantly higher growth for Mexico in 2010 and 2011 compared to the U.S. and Canada.

• In fact, some analysts foresee a growth rate of over 4% in the following years for Mexico’s economy.

India China Brazil Mexico Russia 0

4

8

12

16

20

3.3

7.5

11.3

14.315.8

2010 GDP per capita (thousand dollars)

Source: IMF. *Based on purchasing power parity (PPP).

• Recovery is being led by exports. Non-oil exports posted a positive y-o-y growth rate of 24% in January 2011 .

• From the cyclical low of Jan 2009 to Feb 2011, non-oil exports have risen 55%.

• As a result, Mexico is one of the most competitive countries in manufacturing and mining.

• Now, is the biggest producer of smart phones and silver worldwide.

External Driver

Source: Banxico

Non-Oil Exports(monthly, adjusted, million

dollars)

0

5,000

10,000

15,000

20,000

25,000

Dec

-92

Dec

-94

Dec

-96

Dec

-98

Dec

-00

Dec

-02

Dec

-04

Dec

-06

Dec

-08

Dec

-10

Domestic Driver

Total private consumption has picked up significantly since the second semester of 2009.

Investment is gradually accelerating.

90

92

94

96

98

100

102

104

106

I 200

7II

2007

III 2

007

IV 2

007

I 200

8II

2008

III 2

008

IV 2

008

I 200

9II

2009

III 2

009

IV 2

009

I 201

0II

2010

III 2

010

Private Consumption(index, I 2007=100)

Gross Fixed Investment(index, I 2007=100)

92949698

100102104106108110

I 200

7II

2007

III 2

007

IV 2

007

I 200

8II

2008

III 2

008

IV 2

008

I 200

9II

2009

III 2

009

IV 2

009

I 201

0II

2010

III 2

010

Source: INEGI. Source: INEGI.

Discipline in Public Finances

Discipline in public finances has led to a moderate deficit and a declining trend in public debt.

General Gov. Financial Deficit 2010(% of GDP)

* Observed 2010** Approved 2011Source: SHCP, S&P (May 2010) for the rest.

Public Sector Debt(% of GDP)

Source: SHCP

0

2

4

6

8

10

12

Mex

ico*

Mex

ico*

*

BB

B M

edia

nIn

dia

Lith

uani

aSo

uth

Afr

ica

Hun

gary

Cro

atia

Tuni

sia

Rus

sia

Bul

garia

Bra

zil

Peru

Oth

ers

Med

ian

Irela

ndSp

ain

Japa

nG

reec

ePo

rtug

alR

uman

iaIta

ly

30.9 30.730.1

29.528.8

28.2

35.2 35.134.8

34.333.7

33.0

27.0

28.0

29.0

30.0

31.0

32.0

33.0

34.0

35.0

36.0

2010 2011 2012 2013 2014 2015

Net Debt HBPSBR

PSBR: Historical balance of Public Sector Borrowing Requirements

Inflation and Interest Rates

Even though inflation suffered a temporary increase at the end of last year due to an increase in agricultural product prices, it remains below the crisis.

Inflation target for 2011 is 3.0% Domestic interest rates are close to historical minimums, even with the recent

increase due to market uncertainty associated with the European crisis and the events in Egypt and Libya.

Government Bonds (%)

Source: Banxico and SHCP

Inflation Forecast (%)

2011

Inflation 2010: 4.40%

2010

5.0

6.0

7.0

8.0

9.0

10.0

11.0

12.0

Feb-0

3O

ct-03

Jun-0

4Fe

b-05

Oct-

05Ju

n-06

Feb-0

7O

ct-07

Jun-0

8Fe

b-09

Oct-

09Ju

n-10

Feb-1

1

5 years 10 years 20 years 30 years

Inflation target 2011: 3.0%

Sovereign Risk

Mexico’s sovereign risk and the differential between long term domestic and foreign rates are close their historical minimum.

Source: JP Morgan

EMBI Global1

(basis points)

1002003004005006007008009001000

0200400600800

100012001400160018002000

Dec

-08

Feb-

09A

pr-0

9Ju

n-09

Aug

-09

Oct

-09

Dec

-09

Feb-

10A

pr-1

0Ju

n-10

Aug

-10

Oct

-10

Dec

-10

Argentina Brazil Mexico Composite

1. Emerging Markets Debt Index

Risk Management

International reserves amount to 125,304.9 thousand million dollars (April 20, 2011).

Additionally, Mexico requested the renewal of the Flexible Credit Line with the IMF for two more years and 72 thousand million dollars.

Source: Banxico

The Mexican government contracted an oil price hedge for 2011.

The government has the budgetary and financial capacity to respond to natural disasters for up to 4 thousand million dollars.

Feb-08

May-08

Aug-08

Nov-08

Feb-09

May-09

Aug-09

Nov-09

Feb-10

May-10

Aug-10

Dec-10

707580859095

100105110115120

Mexico’s strengths and opportunities

Main strengths of the Mexican economyAdvantages for European companies

Main Strengths of the Mexican Economy

1. Market size: Population of 112.3 million.

2. Large exporting base: The largest exporter in Latin America.

3. Energy availability: Ranked high in proven oil reserves and renewable sources.

4. Demographic bonus: Barely 5% of workforce are jobless, which has a median age of 27, compared to 29 in Brazil, 35.5 in China or 39 in Russia.

5. Ample network of trade and investment agreements: Free trade agreements with 44 countries (60% of the World’s GDP).

6. Biodiversity. Ranked 4th worldwide.Source: International Monetary Fund

Rank Country GDP 2009*(billion dollars)

1 USA 14,226

2 Japan 5,0493 China 4,7584 Germany 3,2355 France 2,6356 UK 2,1987 Italy 2,0898 Brazil 1,4819 Spain 1,438

10 Canada 1,31911 Rusia 1,25512 India 1,24313 Australia 92014 Mexico 86615 Korea 80016 Netherlands 79017 Turkey 59418 Indonesia 51519 Switzerland 48420 Belgium 461

Ease of Doing Business

Source: World Bank, Doing Business 2011

Number of procedures to start a business Days to open a business

Source: World Bank, Doing Business 2011

• Procedures for opening and closing a business and the time required to obtain building permits, are critical factors in successful international business.

• In Mexico, an investor only requires 6 procedures and 9 days to open a business. These numbers are significantly lower than those observed in Brazil, Russia, India or China.

166

89

1214

1515

CanadaUSA

MexicoChile

RussiaIndia

ChinaGreece

Brazil

56

922

3029

3819

120

CanadaUSA

MexicoChile

RussiaIndia

ChinaGreece

Brazil

Deregulation and Simplification

The ranking measures the behavior in 183 countries of the following variables:

1. Starting a business2. Dealing with construction permits3. Registering property4. Getting credit5. Protecting investors6. Paying taxes7. Trading across borders8. Enforcing contracts 9. Closing a business

Mexico is ranked as the best country to establish a business in Latin America.

Source: World Bank.

127

115

43

39

36

35

1

0 50 100 150

Brazil

Argentina

Chile

Colombia

Peru

Mexico

Singapore

Ranking 2011 Doing Business

Advantages for European Companies

1. Competitive manufacturing costs. Cost advantage of 25% in Mexico relative to the US (China has a cost advantage of 6% relative to the US).

2. Same time zone and quick response toward opportunities in North American markets. a. Manufacturing in Mexico makes “Just in Time” easy. b. Door to door deliveries in less than a week, compared with China where it can

take 6 weeks. 3. Low freight costs

a. Mexico is located in between the main global consumer markets:

Target Germany Brazil China Colombia Korea USA India Mexico Poland Turkey

New York 11 15 32 6 21 - 25 5 12 16

L.A 25 23 18 10 17 - 31 4 26 28

Rotterdam - 17 32 15 33 11 20 16 1 10

Yokohama 35 35 4 24 3 15 17 19 36 27

Source: Sea Rates

Sea freight days to main consumer markets

Legal Certainty for Foreign Investment

• Agreements on Reciprocal Promotion and Protection of Investments (RIPPA) are an important part of the government’s strategy to provide national and foreign investors a legal framework that offers stronger protection for foreign investment in Mexico and Mexican investment abroad.

• Mexico has signed 27 of these agreements:

Country Year Country Year Country YearSwitzerland 1996 Austria 2001 Panama 2006Argentina 1998 Sweden 2001 Iceland 2006Netherlands 1999 Korea 2002 Australia 2007

France 2000 Italy 2002 Trinidad & Tobago 2007United Kingdom 2000 Uruguay 2002 Spain 2008Portugal 2000 Greece 2002 India 2008Denmark 2000 Cuba 2002 Slovakia 2009Finland 2000 Belgium 2003 China 2009Germany 2001 Czech Rep. 2004 Belarus 2009

Source: SE (www.economia.gob.mx).

Legal Certainty for Foreign Investment

• Also, Mexico has signed with Greece an Agreements for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital which came into force on January 1st, 2006.


Real Exchange Rate Advantage

• Mexico's real exchange rate with the dollar and euro is expected to stay mostly between 2008 and 2012.

• Countries such as China, South Korea and India are expected to post strong currency appreciation in real terms against these currencies, giving Mexican exports a significant advantage.

Mex

ico

Chin

a

Sout

h Ko

rea

Taiw

an

Taila

nd

Indi

a

Aust

ralia

Japa

n

Sout

hafr

ica

0.3%

6.1% 6.6% 6.6%7.3%

8.5%9.8%

12.2%

13.9%

Source: ProMéxico, Global Insight data

Expected Real Exchange Rate variation; respect U.S market (2008-2012)

Expected Real Exchange Rate variation; respect Euro (German) market (2008-2012)

Mex

ico

Chin

a

Switz

erla

nd

Sout

h Ko

rea

Indi

a

Japa

n

Sout

hafr

ica

-0.6%

5.1% 5.4% 5.6%

7.4%

11.1%

12.8%

Source: ProMéxico, Global Insight data

Since 2008 Mexico and China have similar labor costs. This turns Mexico into an excellent export platform for North American and European markets

Competitive Labor Costs

0.0

0.5

1.0

1.5

2.0

2.5

2002

2003

2004

2005

2006

2007

2008

2009

E

2010

E

China Mexico

Real Exchange Rate(index, Jan-05=100)

Hourly Wage in Manufacturing(dollars)

Source: Central Banks. Source: International Labor Organization

5060708090

100110120130

Jan-

05Ju

n-05

Dec

-05

Jun-

06D

ec-0

6Ju

n-07

Dec

-07

Jun-

08D

ec-0

8Ju

n-09

Dec

-09

Jun-

10D

ec-1

0

China Mexico Brazil

Additionally, Mexico has better manufacturing costs than countries such as Canada, China, India and Brazil

Note: Index includes raw materials, labor, overhead (energy costs, plant and equipment, taxes), freight, duties, inventory, and exchange rates. Source: Alix Partners 2009

Source: KPMG

Average cost advantage /disadvantage relative to the US (27 input items applied to 12 industries)

Competitiveness findings:

1. Mexico has a business cost advantage of 20.5% average (of 12 industries) relative to the US.

2. There are also advantages in industrial construction costs, land, rent, and taxes.

Brasil México India China

96%

82% 82%74%

Brasil México India China

112%

75% 80%

94%

Manufacturing cost index relative to the US. (2005)

100%

100%

Manufacturing cost index relative to the US. (2008)

Manufacturing Costs

Mex

ico

Cana

da

U.S

.A.

Aust

ralia

Fran

ce

U.K

.

Net

herla

nds

Italy

Japa

n

Germ

any

-20.5%

-0.6%

0.0% 0.2%3.6%

7.1% 7.3% 7.9%14.3% 16.8%

Access to Financing

The Mexican banking system is solid and since the second quarter of 2010 positive monthly growth in credit has been observed.

Commercial and Development Bank Credit to Private Sector (monthly change, 3m. moving avg., %)

Source: Banxico

-3

-2

-1

0

1

2

Jun

-09

Jul-0

9

Aug

-09

Sep

-09

Oct

-09

Nov

-09

Dec

-09

Jan-

10

Feb

-10

Mar

-10

Apr

-10

May

-10

Jun

-10

Jul-1

0

Aug

-10

Sep

-10

Oct

-10

Nov

-10

Dec

-10

Total Consumption Housing Firms

Growing Consumption

ANTAD Sales(index, jan-07 = 100

adjusted, 3m. moving avg.)

Wal-Mart Sales(index, jan-07 = 100

adjusted, 3m. moving avg.)

The 2010 recovery of the domestic market is observed in the increasing trend of retail sales.

Source: INEGI. Source: SHCP with information from Wal-Mart.

95

100

105

110

115

120

125

Jan-

07M

ay-0

7Se

p-07

Jan-

08Ju

n-08

Oct

-08

Feb-

09Ju

n-09

Nov

-09

Mar

-10

Jul-1

0D

ec-1

0 95

100

105

110

115

120

125

Jan-

07M

ay-0

7Se

p-07

Jan-

08M

ay-0

8Se

p-08

Jan-

09M

ay-0

9Se

p-09

Jan-

10M

ay-1

0Se

p-10

Jan-

11

Good Standard of Living

Source: United Nations Development Program (UNDP)

Chile, 0.78Mexico, 0.75Russia, 0.72Brasil, 0.70China, 0.66

India, 0.52

1990 1995 2000 2005 2006 2007 2008 2009 20100.40

0.45

0.50

0.55

0.60

0.65

0.70

0.75

0.80

HDI

The Human Development Index measures education, health and per capita income.

And the Future is Promising

• Mexico has an attractive business environment, legal certainty, one of the largest free trade agreement networks in the world, that combines with a wide array of economic sectors with increasingly competitive cost profile.

• All this factors places Mexico amongst the top choices regarding investment location.

AT Kearney's “Foreign Direct Investment Confidence Index 2010” ranked Mexico as the 8th most attractive economy for foreign investment position, an improvement of 11th places compared to the last index published in 2007.


Honduras

Nicaragua

Guatemala

El Salvador

Colombia

Chile

Argentina

Uruguay

GreciaItalia

FranciaEspaña

Portugal

Reino Unido

Islandia

Holanda

Dinamarca

NoruegaSuecia

Finlandia

Austria

12 FTA´s

7 ACE´s

27 ARPPI´s

Canadá

EstadosUnidos

Cuba

Honduras

Nicaragua

Costa RicaGuatemala

El Salvador

Colombia

Perú

Chile

Argentina

Uruguay

Brasil

Mercosur(Acuerdo Marco ) (Acuerdo Automotriz)

Israel

Corea del Sur

Luxemburgo

Bélgica

Irlanda

LiechtensteinSuiza

AustraliaJapón

Panamá

Estonia

Letonia

Lituania

Polonia

EsloveniaHungría

Eslovaquia

Rep. Checa

MaltaChipre

Alemania

Rumania

Bulgaria

Fuente: Secretaría de Economía

India

China

Trinidad y Tobago Belarús

Institutional Legal Framework


HSBC (2011)

“Mexico’s per capita GDP is expected to be 3 ½ times faster than the U.S. this decade. Mexico would lead the charge in Latin America in coming years to become the world’s eight biggest economy by 2050.”

BCG / Mexico's Evolving Sweet Spot in the Globalization Landscape (2009)

“Mexico's Sweet Spot in global trade owes itself to several converging factors: Privileged geographic location, skilled labor, management talent, labor costs, government incentives, healthy domestic market.”

Experts’ opinions…


AlixPartners / Manufacturing-Outsourcing Cost Index™ 2009

“China’s Total Landed Cost Has Increased to an Average 94% of Current U.S. Cost… While Mexico’s Position Has Improved Dramatically (75% of U.S. Cost).”

KPMG / Competitive Alternatives, Guide to International Business Location 2008

“Among the countries studied, Mexico represents the lowest-cost country, with a business cost advantage of 20.5%, on average, relative to the US baseline.”*

Experts’ opinions…

*The study covers 136 cities in ten countries (Mexico, Canada, USA, Australia, France, UK, Netherlands, Italy, Japan and Germany.

Sectors with proven success in Mexico

Aerospace Industry

Aerospace industries in Mexico have evolved from simple parts assembly to highly complex activities such as parts design, maintenance operations, fuselage assembly, harnesses and landing gear manufacturing.

1. Aerospace exports have increased from $1.26 billion USD in 2002 to $3.1 billion USD in 2008. An average sales growth of 16.3% per year.

2. Mexico has consolidated itself as the 8th largest supplier of aerospace components to the US and the 5th largest to the European Union.

3. Out of the 11 aerospace companies with international operations listed in the Fortune 500, 7 have operations in Mexico.

4. According to KPMG, Mexico has a cost advantage of 30% among the current leading nations in the aerospace industry.

5. Between 1990 and 2009 Mexico was the main destination of aerospace manufacturing projects in the world, a fact that reflects the country's competitive advantages as well as the capacities developed as a center for advanced manufacturing.

The aerospace industry in Mexico is taking off…

2002 2003 2004 2005 2006 2007 2008

1.3 1.3 1.3

1.7

2.0

2.7

3.1

2005 2006 2007 2008

61 67

120

193

2005 2006 2007 2008

10 10

20

27

Mexican aerospace exports

(billions USD)

Aerospace companies in Mexico

Aerospace jobs in Mexico(in thousands)

Source: ProMéxico with data from FEMIA

Aerospace Industry

• In 2009, industry-leading companies announced major investments in Mexico:

1.Cessna and Bell expanded its presence in Mexico through investment projects up to $106 million USD.

2.Aernnova invested more than $100 million USD to set up three factories in Queretaro.

Automotive Industry

Mexico’s automotive industry: Among the largest in the world

1. Mexico is the 10th largest manufacturer of motor vehicles.

2. More than 80% of auto parts production is sold abroad.

3. Out of the 28 auto companies listed in the Fortune 500 ranking with international activities, 27 have operations in Mexico.

4. KPMG places Mexico as the #1 destination for auto parts manufacturing.

5. Companies such as GM, Ford and VW have announced more investments.

6. Car production in Mexico will pass from 2 million in 2008 to 3.1 million in 2013 according to CSM Worldwide.

Renewable Energies

The renewable energies generate more than 7% of the primary energy.

• The availability of renewable sources of energy in Mexico offers a great potential for projects on electrical generation and other applications due to:

• High potential for mini-Hydroelectrical plants.

• Undeveloped geothermical camps.

• High-intensity wind zones.

• High levels of insolation.

• Big volumes of energy crops.

• Need to dispose biomass residues in cities and fields.

Renewable Energies

• Mexico has an effective generation capacity of 13,400 MW, which represents 24% out of total electrical capacity.

• 19% out of total energy for public services is generated by renewable sources.

Renewable Sources

Public electrical company

Self-consumption Independent

Hydro electric 10,930 MW Mini-hydro electric 365 MW 108 MW

Geo thermal 960 MW Biomass 474 MW Biogas 33 MW Solar 18 MW

Wind driven 87 MW 434 MW Total 12,342 MW 1,049 MW 18 MW

Source: CFE.

1. Zero duty on equipment to prevent pollution and promote research and technological.

2. Accelerated depreciation for infrastructure projects that use renewable sources of energy: up to 100% in a year.

3. 30% tax credit for research and development (CONACYT).

4. Interconnection contracts for intermittent sources of electricity (CFE).

5. Kyoto Protocol can use the figure of the Clean Development Mechanism for obtaining Certified Emission Reductions.

6. Interconnection agreement for small-scale solar power on the type of net metering.

Renewable Energies

Policies and incentives for the development and implementation of renewable energies.

Other Industries with Great Opportunities

• Competitive advantages in smaller delivery times, qualified labor force, high quality-high yield production, flexibility.

• 18 Fortune 500” firms operate in Mexico.

• Between January and October 2009, the sector recorded exports of $62 billion dollars, 41% of Mexico’s manufacturing exports.

Electric and Electronic devices

IT Services

• The IT Services market value reach $4.2 billion USD; it grew 14% in 2008.

• Mexican IT companies exported $2.9 billion USD in 2008.

• Out of 51 Fortune 5000 companies with international operations, 36 operate in Mexico.

• More than 6.5 million Americans live outside the US; out of those 1.2 million live in Mexico.

• International Living magazine has ranked Mexico as the best country to retire to for two straight years out of 29 nations.

• For the second year in a row, Mexico was granted the Agents’ Choice Award 2009 as the best winter tourist destination

Second Homes

1. Processed foods

2. Chemical

3. Pharmaceuticals

4. Medical devices

5. Logistics and infrastructure

6. Heavy industries

7. Software

8. BPO’s (Business Process Outsourcing)

That’s not all… ProMéxico has identified great investment opportunities in the following industries:

Other Industries with Great Opportunities

Next steps: The Mexico’s Government Strategy

Coordinated efforts between Federal and State Governments are producing a new Industrial Policy

A New Industrial Policy

1. Manufacture of transportation equipment

2. Manufacture of machinery and equipment

3. Manufacture of electrical and electronic equipment

4. Mining (excluding petroleum and gas)

5. Support services to businesses (i.e., call center)

6. Food industry7. Health care 8. Temporary accommodation

services

1. Farming of vegetables, fruit and flowers

2. Software

3. R & D services

4. Services of Architecture, Engineering and Design

5. Music, film, radio and television

1. Housing

2. Commerce

3. Financial services

High priority sectors(Focus: Attract investments and promote industrial development)

Future bets(Focus: Government support to promote industrial development)

Domestic market growth(Focus: To promote a healthy development)

Development platforms(To promote competition, a better regulation and investments)

1. Infrastructure 2. Telecommunications 3. Education services

Additionally, specific actions to increase Mexico’s competitiveness have been implemented during the last years.

Competitiveness

1. Strong investment on infrastructure with the objective of reducing logistic and transportation costs.

2. A Foreign Trade Simplification Program oriented to simplify customs procedures and operations.

3. An aggressive schedule to unilaterally reduce import tariffs (the average tariff will decrease from 10% to 8.3% immediately, and then to 4.3% by 2013)

4. Easing the regulation to start companies, in order to make the business framework more efficient, transparent and predictable

5. Strengthening public finances and macroeconomic stability

6. A Program for the development of Small and Medium Businesses (The “México Emprende” trust will have 628 millions USD to detonate credits for 22.4 billion dollars during the period 2009-2012).

7. Initiative “Better education for life and work” (creates an educational culture based on productivity and promotes student competitiveness since the initial years of education).

8. Higher funding for science, technology and innovation (Federal Expenditure for science and technology is around 3.5 billion USD)

9. Consolidation of the quality of academic bodies (the National System of Researchers is integrated by nearly 15,000 members working on science and technology)

10.Criminal Justice Reform and Public Security (The reform provided new and better tools for reinforcing criminal investigations)

Competitiveness

Security Matters

• During the last years, the Government of Mexico has spared no effort to strengthen public security throughout the country and will continue to do so. The fight against organized crime in Mexico is a necessary part of that effort.

• All countries “must shoulder together this responsibility” by increasing cooperation to effectively fight and defeat the cross border drug trade which supplies developed markets and fuels much of the criminal activity and violence in Northern Mexico.

Security Matters

Final remarks

Bilateral Trade and Investment Flows

Despite the FTA and the Strategic Partnership between Mexico and the European Union, trade and investment flows with Greece are still low.

Million USD

Total trade Exports to Greece Imports from Greece Balance to Mexico

2007

139.334.01105.3-71.3

2008

308.830.9

277.8-246.8

2009

80.728.0552.7-24.6

2010

138.828.05110.7-82.7


Main Exports to Greece Main Imports from GreeceSeafood Shaving products

Tequila Olive oil

Chickpeas Tobacco

Aircraft auto parts Books


• According to the National Registry for Foreign Direct Investment 2009-2010, there are only 20 Greek enterprises in Mexico.

Potential Market

• According to TradeMap of the International Trade Centre, there is a big potential market between Mexico and Greece in the following economic sectors:

• Automotive industry.

• Pharmaceutical industry.

• Software industry.

• Medical devices.

• Electrical appliances (televisions).

Final remarks

México: “Sweet Spot” for higher profits

1. Production and logistic savings turn Mexico into a solid alternative for higher profits.

a. This is crucial in a world economy characterized by intense global competition.

2. Mexico’s competitiveness is being enhanced by the government’s massive infrastructure programs, a growing human capital base and the development of high value added industries.

3. Among the world’s largest and most dynamic economies for the next decades (BRIC’s and N11), Mexico has a privileged place due to its location and the size of its domestic market.

4. It is because of this advantages that many analysts around the world, consider Mexico to be the “sweet spot” for solid, high yield, high profit operations.

7th World Chambers Congress

• Mexico will host the 7th World Chambers Congress (WCC) on 8-10 June 2011.

• The WCC will take place in Mexico for the very first time in Latin America.

• The WCC is the only international forum for chamber executives worldwide and business leaders dedicated to share best-practice experience, develop networks and learn about new areas of innovation.

• This Congress will focus on the new economy, the building of a green economy and social corporate responsibility.

Mexico is opportunity

How to do business in MexicoRELEVANT DOCUMENTS FOR THE PROMOTION OF THE ECONOMIC AND COMMERCIAL RELATIONS BETWEEN

MEXICO AND GREECE

1. Mexico: Business opportunities and legal framework. Basic guide for foreign investors 2. Mexico: Business opportunities and legal framework. Supplementary materials

3. Economic outlook for Mexico, March 20114. Mexico's Strengths

5. Doing Business 20116. Competitive Alternatives. KPMG´s guide to international business location, 2010 edition

7. Mexico's evolving sweet spot in the globalization landscape8. Manufacturing-Outsourcing cost index. Overview & Highlights9. Trade Links: Mexico, best place for business in Latin America

10.Negocios ProMéxico: Mexico building its path to success11.Trade indicators between Mexico and Greece

12. Mexican Web Sites Links

ECONOMIC AND COMMERCIAL LEGAL FRAMEWORK BETWEEN MEXICO AND GREECE

13.Economic Partnership, Political Coordination and Cooperation Agreement between the European Community and its Members States and Mexico14.Agreement between the Government of the United Mexican States and the Government of the Hellenic Republic on the promotion and reciprocal protection on investments15.Convention between the Hellenic Republic and the United Mexican States for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital

• Embassy of Mexico in Greece• Platia Filikis Eterias 14 / 5• 106 73, Kolonaki – Athens• Greece• Tel: (+30) 210 729 4780 / Fax: (+30) 210 729 4783• http://portal.sre.gob.mx/grecia

For further information please do not hesitate to contact to:

Mr. Oscar CamachoMexican Trade CommissionMilan, Italy [email protected]

Mr. Julio EscobedoEmbassy of MexicoAthens, [email protected]

mailto:[email protected]

mailto:[email protected]

Documents

April 28, 2011