Mexico

About the Flag

Mexico is one of the world’s largest countries with a surface of 1,964,375 square kilometers of land and 3,149,920 square kilometers of sea. Mexico is a federal republic divided into thirty-one (31) states and a federal district (seat of the federal powers). The executive power is the president who is elected for a period of six years without reelection. The legislative power is divided into two parliamentary chambers (representatives and senate). The judicial power is headed by the Supreme Court of Justice.

The legal system of Mexico follows the pattern of codified law based on the Napoleonic Civil Code. The laws are generally contained in codes, both at federal and state level. Most of the provisions which are relevant to a foreign investor, such as commerce, corporations, foreign investment, labor, intellectual property, tax and maritime matters are regulated by federal statutes.

Mexico is the world’s fourteenth (14th) largest economy. The Mexican economy reached an average growth rate of four percent (4%) of the Gross Domestic Product in 2011 and inflation was around three point eighty two percent (3.82%). For the year 2012 the Gross Domestic Product grew four percent (4%) for the first quarter of the year and inflation reached three point zero-seven percent (3.07%). This information was published by the Ministry of Finance and Public Credit on the first days of May.

On June 1, 2006, the new Mexican Navigation and Maritime Commerce Law (Ley de Navegación y Comercio Marítimos) (“NL”) was enacted with the purpose of strengthening maritime commerce in Mexico and enhancing business opportunities for Mexican shipping companies.