Repeat visitors to this space will know that this is not a travel blog. We are much more likely to discuss natural gas pipelines than to wax about resorts and yoga on the beach at sunrise, preferring to leave those complicated topics to skilled specialists such as Cancun Canuck and Mexican at Heart. Nonetheless, tourism is one of the most important sectors of the Mexican economy, so it is fair game. With this in mind, we took advantage of the recent holiday period to head up to the state of Baja California Sur to do some research on two critically important market sectors: fish tacos and beer. Our fieldwork revealed that Baja is a great place to visit! And along the way, we also observed some interesting quirks about the local economy. Read the rest of this entry »
Thanks to BDP Managing Partner José A. Jiménez for contributing the following post
Now that the Trans-Pacific Partnership (TPP) has been, for all practical purposes, ditched by U.S. President-elect Donald Trump, a wait-and-see phase has begun regarding what will happen to U.S. foreign trade policy once Mr. Trump assumes power on January 20, 2017 — particularly his threats to renegotiate the North American Free Trade Agreement (NAFTA) with Mexico and Canada, and impose prohibitive tariffs on imports from China. With this backdrop, Mexico and South Korea have pledged to move forward with the trade negotiations begun by the TPP and establish a formal trade agreement between the two countries.
On her visit to Mexico in April 2016, President Park Geun-hye of South Korea and Mexico’s President Enrique Peña Nieto reiterated their support for integration into the then expected TTP and signed a 17-point memorandum of understanding with the aim of strengthening bilateral economic relations. The cooperation agreements signed cover areas such as clean energy, technology, law enforcement, telemedicine and tourism, among others. The two countries further announced two new lines of credit, one for US$1 billion for electrical infrastructure development and another for US$200 million to finance Mexican suppliers of Korean industries. Read the rest of this entry »
One morning not long ago we were on our way to work at the Mexico Business Blog Global Campus when we strolled by the Pemex station and immediately did a cartoon double-take: The Pemex gas station was no longer Pemex! It was still a gas station, yes, but the grungy, dinged up Pemex livery had now been replaced by sparkling new green and yellow Hidrosina logos and signs. We could not help but to stop and gawk. All our lives, all gas stations (or petrol stations, if you prefer) in Mexico were Pemex stations. The Pemex station has long ranked among the most recognizable icons of Mexican popular culture – the place where you can fill up your tank, and go to the bathroom if you dare. At that seminal moment, on the corner of Insurgentes and Av. Yucatán, a piece of our childhood died, and we were nearly brought to tears. Those tears, however, would have been tears of joy, since the demise of the Pemex monopoly may be the most thrilling public policy to hit Mexico since, well, maybe since the energy industry was nationalized in 1938. Read the rest of this entry »