Mexico, a constitutional republic in North America, is bordered by the United States to the north, the Pacific Ocean to the south and west, the Gulf of Mexico to the east, and Guatemala and Belize to the southeast. It is divided into 31 states, with Mexico City as the capital. The currency is the Mexican peso (MXN), and the official language is Spanish. English is also understood by many members of the business community in the capital and larger cities, as well as in the tourist resorts and areas bordering the United States.
Mexico has a free market economy in the trillion United States dollar (USD) class. It consists of highly diversified and modern industries, with significant amounts of private investment. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports, among others. Trade with the United States and Canada has nearly tripled since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, renegotiated in 2018 and 2019 (being ratified by local Congresses). Mexico has free trade agreements with over 50 countries, including the European Union (EU), Japan, and many other countries around the world, placing more than 90% of trade under free trade agreements. Mexico has been on a reform path for a number of years, privatising, deregulating, and cutting back the role of government. Strengthening the rule of law, facilitating cross-border trade, opening most sectors to private investment, and enhancing intellectual property rights protection are good examples of the measures taken by Mexico to support its economic growth and development.
PwC Mexico, with more than a century of accumulated experience, is the leading professional services organisation in Mexico and provides a full range of business advisory services. The Tax and Legal Services (TLS) practice develops and implements customised solutions based on the needs of both domestic and international clients.