Mexico’s size and diversity are often under appreciated by U.S. exporters. It can be difficult to find a single distributor or agent to cover this vast market.

The Mexican legal system differs in many significant ways from the U.S. system. U.S. firms should consult with competent legal counsel before entering into any business agreements with Mexican partners. The U.S. Commercial Service can provide a list of attorneys with experience in dealing with U.S. corporate clients.

The banking system in Mexico has shown some signs of growth after years of stagnation, but interest rates remain relatively high. In particular, small and medium enterprises (SMEs) find it nearly impossible to obtain financing at reasonable rates despite Mexican Government efforts to increase capital for the SMEs. Most importing is conducted on open account. Consequently, U.S. companies need to conduct thorough due diligence before entering into business with a Mexican firm, and should be conservative in extending credit and alert to payment delays. As one element in a prudent due diligence process, the U.S. Commercial Service offices in Mexico can conduct background checks on potential Mexican partners. There is a fee for this service.

Mexican customs regulations, product standards and labor laws may entail pitfalls to unwary U.S. companies. U.S. Embassy commercial, agricultural and labor attachés are available to counsel firms with respect to regulations that affect their particular export product or business interest.

Have patience. Everything takes more time to accomplish in Mexico than what U.S. companies are used to or would like.