Mexico is actively pursuing a program designed to reduce its reliance on the USA as a trading partner. Mexico has completed free trade agreements with 33 countries giving it access to over one billion consumers. Mexicans are inclined to be more formal than their Australian counterparts. When meeting with Mexican business people make sure to bring plenty of business cards, although it is common for your Mexican counterpart not to have any business cards to give you. Mexicans will always greet and farewell all people in attendance accompanied by small talk about current issues or family topics.
Cancelled meetings are common. It is advisable to confirm all appointments close to the meeting time. In fact, you may need to re-confirm your meeting several times, even on the day of the meeting. Although it is important to be punctual to meetings, it is generally accepted that visitors will often be late through no fault of their own. Given the size of Mexico City, it is important to have a good idea of exactly where you are going and an estimate of travel time. Lateness is not a sign of disrespect for your time.
Business commonly takes place over meals, primarily lunch and increasingly over breakfast. A point to note is that the bill at a restaurant is rarely divided between small parties. One person usually invites the others to a meal. It is also advisable to recognise the significance of the word ‘invite’, which in Mexico is often a synonym meaning, ‘to pay for’. Your generosity will count toward developing a personal relationship.
More information on doing business in Mexico