Mexico and Korea Trading Negotiation/Relationship

Mexico

Mexican Economy

• GDP - real growth rate: 3% (2007 est.) • GDP - per capita (PPP): $12,500 (2007 est.) • GDP - composition by sector: agriculture: 3.9% industry: 26.3% services: 69.9% (2007 est.)

• Budget: revenues: $209.2 billion expenditures: $209.2 billion (2007 est.)

• Public debt: 23.1% of GDP (2007 est.)

Korea’s Largest Latin Trade Partner

• In 2004, exports to Mexico stood at over $3 billion, some 25.8 percent of all exports to Latin America ($11.6 billion).

• Mexico’s top exports to Korea include ores, minerals, lumber, marine products and beef.

• More than 65 percent of Korean exports to Mexico are destined for re-export to the United States.

Economic Growth

• Mexico integrating its economy as part of the North American Free Trade Agreement (NAFTA) block.

• Increasing levels of two-way investment with Korea. 

• Prospects for Korean companies across a wide range of sectors, including: oil and gas services; mining equipment and services; telecommunications; automotive; aerospace; power; and environmental applications.

Negotiation Tips• * Likely to make individual

agreements

* Personal relationship

essential

* Time is flexible• Mexicans much less likely to question authority• More individualistic • More male-dominated• Less avoidance of uncertainty

Mexican Web Resources

• http://kr.youtube.com/watch?v=0YmL146DCqY

• http://kr.youtube.com/watch?v=CpsGGmBVik8

• http://kr.youtube.com/watch?v=hRUZVoM1ewM