Posts Tagged ‘Mexico’

January 25th, 2013

EDC makes it easier for Canadian companies to access major international contract givers

On November 28, 2012, EDC announced that it had granted financing in the amount of USD 300 million to Mexico’s Federal Electricity Commission (FEC) in order to help expand the opportunities available to Canadian companies on the Mexican market.

It is not very well known, but EDC frequently offers this type of major financing to large contract givers abroad, in exchange for their commitment to carry out a certain percentage of their purchasing from Canadian suppliers or to integrate Canadian content. For Canadian SMEs, this can represent a foot in the door with potential major clients in foreign countries, either selling directly to the contract giver or working through one of its suppliers. (more…)


June 11th, 2010

Doing business in Mexico requires an understanding of its cultural subtleties

Based on what I saw during our last trade mission to Mexico, here are a few tips to help you understand Mexican culture.

Meet your potential partner in Mexico, it’s worth the trip!

If you want to do business in Mexico, you have to understand that Mexicans only negotiate with people they trust. So you absolutely must meet your potential customer in person and win him over. For example, at a cocktail held at the Quebec House in Mexico City, one of the mission participants had a chance to talk to a potential customer before the next day’s meeting, allowing him to begin establishing trust. The next day, the participant was warmly received by the company and introduced to its employees. Negotiations will continue when the potential customer visits Quebec this month.

The challenge of confirming appointments in Mexico

Managing a successful business trip to Mexico is no small feat. Mexican entrepreneurs often wait until the very last minute to confirm a meeting. I therefore strongly recommend that you have someone in Mexico who can help you plan your stay and meetings.

First impressions are everything

In Mexico, as in many other Latin American countries, first impressions are very important. For example, formal business attire is a must. For more information, visit the Executive Planet Web site.

Punctuality

Punctuality is not always a priority in Mexican business culture. That said, a Mexican businessman will expect his future foreign partner to be on time. But when it comes to social events, arriving 30 minutes late is the norm. For example, during our mission, the general Quebec delegation organized a cocktail from 7:00 p.m. to 9:00 p.m. but most of the Mexican guests didn’t show up until 8:00 p.m.

The meaning of mañana

It’s important to understand the subtleties of the word mañana. Mexicans don’t like to disappoint by saying no. So instead, they will use the word mañana to mean later, in the near future, or simply no. But be careful, because “no” may mean “no” (to us) but it can also mean maybe or we’ll see. It’s therefore important for Quebecers not to take this word literally.

Finally, as they say, when in Rome, do as the Romans do. If you need advice on doing business in Mexico, please don’t hesitate to give us a call.

Caroline Bouchard


December 15th, 2009

Our next Mexico trade mission

As you know, we’re organizing a trade mission to Mexico in April 2010. You may be wondering why we chose this country.

There are several reasons why we’ve decided to go back for the second time.

First, because when we were first there in 2008, I noticed that the Mexicans source mainly to the U.S. but that they do so reluctantly. That’s because U.S. manufacturers have a hard time adapting their products and services to the Mexican market. In the meetings I attended, it was clear that the Mexicans would like to find other business partners. This bodes well for Laval firms.

Second, according to National Bank and EDC, the Mexican economy is expected to grow next year – 1.6% according to NB and 3% according to EDC.

Third, we’ve found an excellent business partner for our Mexico missions. The outcome of the first trip was so positive that we will be working with him next time round as well.

Lastly, a number of you have told us that you’d like to develop this market, and you are absolutely right. Countless opportunities await you just a short flight away.

Véronique Proulx