Mexican Minister of Economy travels to Brussels seeking to close deals

Mexican Minister of Economy travels to Brussels seeking to close deals

Dec 20, 2017

In order to analyze and resolve some of the critical issues for the modernization of the Free Trade Agreement (FTA) between Mexico and the European Union, the Mexican Minister of Economy, Ildefonso Guajardo, has traveled to Brussels, Belgium, seeking to reach some agreements. Amidst concerns regarding the protected designation of origin of some beers, meat, and dairy products, Guajardo will attend the seventh round of negotiations taking place from December 19 to 21. According to a press release by the Ministry of Economy, the Mexican Minister will meet with the EU Trade Commissioner, Cecilia Malmström, to analyze the most critical issues of the negotiation and “ find the balance to conclude this process.” The Minister of Economy will also meet with EU Commissioner for Agriculture and Rural Development, Phil Hogan, to analyze several topics of this industry which are to be added to the Free Trade Agreement. Two weeks ago, Guajardo claimed the deal is “in the final stage” with the negotiation and closure of the most complex issues such as the protected designations of origins, brand recognition, financial services, and investment disputes. Source: El...

President of the National Banking and Securities Commission resigns

President of the National Banking and Securities Commission resigns

Dec 19, 2017

Jaime González Aguadé has resigned as president of the National Banking and Securities Commission (equivalent to the Mexico Stock Exchange), with effect from December 19th. Jaime González Aguadé resigned as president of the National Banking and Securities Commission (CNBV) effective as of December 19, in accordance with his interests. Foto original, tomada del portal web de El Universal Through a letter sent to all the staff of the institution, he expressed his appreciation and gratitude for his commitment and dedication to the Commission and to Mexico, as well as wishing them success in the challenges and opportunities to come. Jaime González Aguadé was appointed President of the CNBV on December 14, 2012 and focused on full compliance with the mandate of the institution entrusted to him. During the last 5 years, Gonzalez Aguadé directed the work of the regulatory and supervisory body of the entities that comprise the Mexican financial system, focused on preserving its stability and promoting its stable development and proper functioning. In the coming days, pursuant to Article 14 of the Law of the National Banking and Securities Commission, the Secretary of the Treasury and Public Credit is responsible for appointing the new president of the CNBV. The Commission reiterates its commitment to be an efficient, modern and respected authority that seeks the stability of the Mexican financial system, in accordance with international best practices, and that contributes to the construction of a prosperous Mexico. Source: Mexico News...

Cacao industry could save Tabasco from the oil crisis

Cacao industry could save Tabasco from the oil crisis

Dec 18, 2017

TABASCO — Dropping oil prices and the ensuing job losses in the Gulf state of Tabasco have resulted in a resurgence in the production of cacao. With 2% of the worldwide cacao, or cocoa, production, Mexico falls well behind top producer Cote d’Ivoire and its 38% share. Still, the state of Tabasco leads Mexico’s national production. The promise of better jobs in cities and on oil rigs and the onslaught of a plague doomed a once prosperous industry: from 80,000 hectares dedicated to cacao in the 1990s the area fell to just 60,000 by the early 2000s. At its lowest, only 20,000 hectares remained in production; the rest fell into disuse or cacao was replaced by more popular crops like sugar cane and papaya. But the efforts of farmers and industry leaders focused not only on exporting but on a nascent market for niche gourmet products have sent a lifeline to the local cacao plantations. Today, the state’s 40,000 hectares produce close to 18,000 tonnes of cocoa seeds. Haciendas that had been turned into museums are once again becoming productive, reactivating the local economy and creating much-needed jobs in the state’s cacao corridor, which takes in the municipalities of Cunduacán, Comalcalco and Cárdenas. Reactivated cacao estates and plantations also earn extra income by offering guided tours that explain to visitors the history of the plant and the different processes it undergoes before becoming chocolate. To read complete article click here. Source:...

Amazon becomes Mexico’s top online retailer in 2017

Amazon becomes Mexico’s top online retailer in 2017

Dec 17, 2017

Mexico this year, helping to grow the country’s nascent e-commerce market by a third, according to a report by market research firm Euromonitor International. The world’s largest online retailer will generate $502.2 million in Mexico sales this year compared with $243.9 million last year, the Euromonitor report said. Its findings were based on trade surveys, market studies and data research. Online sales still account for slightly over 3 percent of all retail sales in Mexico, where shoppers fear credit card fraud and are often paid in cash. Internet shopping represents nearly 12 percent of all retail sales in the United States. Argentina’s MercadoLibre Inc (MELI.O) registered an increase of nearly 90 percent from 2016, Euromonitor said, but was still seen slipping to second place with some $489.2 million in sales. MercadoLibre did not comment on the Euromonitor figures but said its Mexican sales rose 82 percent in the third quarter. In third place was Wal-Mart de Mexico WLMEX.MX with $258.9 million in projected online sales, or growth of about a third. Wal-Mart de Mexico did not respond to a request for comment. Amazon, which formally launched in Mexico two years ago, made a push to expand its customer base in October by introducing a cash payments system. The U.S. company declined to comment on the Euromonitor data, saying it does not release sales figures. Euromonitor excluded consumer-to-consumer sales sites, such as eBay, in its analysis. The firm forecast the Mexican online market would be worth $7.1 billion next year, rising to $14 billion by 2022....

Mexico to launch tender for Baja California link-up

Mexico to launch tender for Baja California link-up

Dec 15, 2017

Mexico’s energy ministry is to launch the country’s first tender for the financing, installation, maintenance, management and operation of a transmission line linking Baja California state to the U.S. national grid. “The tender will be launched in January 2018, including the publication of bidding rules and the contract model. Bidders are invited to present their economic and technical proposals in July, while the winner will be announced in September”, the ministry said. This will be the first transmission project to be tendered to a private company based on the reformed electricity law and the government’s broader national electricity development plan launched in June. The winner will be selected based on lowest cost offering, as contractual payment to the successful bidder will be included in the subsequent transmission tariff, and will be paid directly by the energy control center Cenace, the ministry said. Upon contract expiration, all transmission assets will go to the state. The project includes two converter stations and an approximately 500kV direct current, high-voltage transmission line stretching approximately 1,400km, the largest of its kind in Mexico. The energy regulatory commission is also drawing up rules for a tender to build a transmission line connecting the southern part of the peninsula, Baja California Sur state, to the national grid. Baja California Sur is poised to lead growth in power demand over the next decade. Draft bidding rules are available in Spanish here and a prospectus here....

FCR to open Contact Center in Baja California

FCR to open Contact Center in Baja California

Dec 15, 2017

FCR, a provider of outsourced live agent call center and business process solutions, plans to open a contact center, 170 miles south of San Diego, in Baja California, Mexico. Headquartered in Eugene, Oregon, FCR operates contact center facilities in Oregon, Montana and now Tijuana, Mexico. The site is centered within the heart of Tijuana’s International Business Park and provides easy access and close proximity to the US-Mexico border crossing, company officials said. FCR has planned a Grand Opening for April of 2018 with an initial team of 30-50 full time employees, and expects to grow their employee footprint to over 300 full time employees in the Baja area over time. The expansion allows FCR to augment its U.S.-based domestic operations with high quality bilingual and Spanish language services for its existing and future clients. FCR’s new Tijuana, Baja center is located within the CCSI Otay Industrial Park Complex and is fully integrated with FCR’s U.S. operations, a company spokesperson said. The center will mirror FCR’s existing systems, processes and procedures, compliance rules, and high performance standards its clients have become accustomed to. As with all of FCR’s sites across Oregon and Montana, FCR’s management team will maintain operational control of the Tijuana location with cross border management training and close partnership and communication with the dedicated on-site Supervisors, Team Leads, and Agents of the center. Click here for full article on areadevelopment.com...