The IMMEX Program in Mexico is a partnership effort between the United States and Mexico. Mexico is an important country and partner in the hemisphere for U.S. businesses. Imported goods from Tacna, Mexico account for almost 15 percent of the goods sold in the United States by value and shipments of these goods account for over three-fourths of the total imports of the United States by value. It is no wonder then that the Mexico government and the private sectors are working closely with both the American companies that import from Mexico and the Mexican government to promote the IMMEX Program.
IMMEX is quite unique because it allows for seamless transfer of labor, materials, and products between the United States and Mexico-meaning that imported goods can enter the country duty free and immediately be exported out of the country duty free. Many economists believe that the influx of U.S. goods into Mexico and the eventual disbursement of the funds to Mexico through IMMEX rates are important economic diversities for the Mexico economy. The ability to have a nation to open its doors for imported goods is a boon to any country considering the severe economic downturn in many of these countries are facing in today’s global economic climate. IMMEX rates are often among the lowest in the world making it an attractive investment for both the Mexican government and private sector. Many of these products are sold in the U.S. by private individuals who wish to take advantage of lower-priced merchandise that can be shipped across the border.
The Mexican government sees IMMEX as a tool to stimulate economic growth in Mexico. The Mexican government encourages foreign direct investment (FDI) in Mexico so they can increase their investments in Mexico’s productive industrial base. They also encourage foreign companies that produce goods to purchase machineries and production facilities in Mexico that will allow them to process and export their products from Mexico to the rest of the world duty free. If you are an import-export business considering investing in Mexico, you should take a close look at what IMMEX has to offer. Not only does IMMEX give foreign companies easy access to the resources of Mexico but it also has helped boost Mexico’s industrial base and improved Mexico’s flagging economy.