West Midlands firms are being urged to head “Down Mexico Way” by joining a trade mission to the Latin American country.
Vesko Petkov, international tax partner with accountants and business advisers Mazars in Birmingham, says big opportunities exist for exporters.
Mexico’s 116 million people purchase more than £1 billion of British goods annually, it is the world’s ninth biggest economy – predicted to be the fifth largest by 2050 – and is growing at around three per cent a year.
The visit comes as Mexico, the US and Canada celebrate the 20th anniversary of the North American Free Trade Deal.
Mexico’s growth is boosted by its network of 12 Free Trade Agreements with 44 countries – accessing 60 per cent of the world’s total GDP.
Mexico is also now part of the newly formed Pacific Alliance, the most open, high-growth and progressive economies in Latin America (together with Colombia, Peru and Chile).
Mr Petkov said: “It is a country which has a bit of an image problem – drug wars and corruption have cast a shadow. But there is much more to Mexico than that.
“In fact it is growing fast and UK companies need to get engaged with what is a thriving economy and burgeoning business sector.
“With offices in Mexico City, Coatzacoalcos, Monterrey, Puebla, Queretaro, Toluca, and, Villahermosa, Mazars knows the country well. We can advise on the best ways to take advantage.”
The mission, to Mexico City and Guadalajara, is being co-run by UK Trade & Investment and London Chamber of Commerce & Industry, sponsored by Santander and supported by the European Union.
Mr Petkov went on: “Mexico is one of Latin America’s most open economies, boasting 12 free trade agreements with 44 countries, including the UK.
“Prospects exist for companies across a variety of industry sectors including food and drink, aerospace, automotive, healthcare, education, environment, financial services, infrastructure, oil and gas, power and energy, and security. Consumer companies also have the chance to attend the ANTAD exhibition, one of the best food, consumer products and retail technology exhibitions in Mexico.”
The trip runs from March 7-14 but companies only have until January 31 to sign up.