MEX GVT Manufacture, Export Reform

On Jan. 11, MEX GVT called on participants to protect IMMEX program.

  • Secretary of economy called on participants to combat irregular practices in program.
  • Overview
  • As irregular practices detected in program for promotion of manufacturing, export services industry (IMMEX) reforms to combat them were announced by government.
  • About IMMEX
  • IMMEX facilitates industrial processes or services for development, transformation or repair of goods of foreign origin imported temporarily for subsequent export.
  • 6.313 registered companies benefit from program in various industrial sectors e.g. automotive, aerospace, electrical-electronic, medical equipment, household appliances.
  • Textile-clothing, jewelry, agribusiness, service sectors e.g. payroll administration, call centers, logistics services but also financial advice.
  • No longer a border program as Mexico is central participant in global goods markets.
  • Situation and Action Taken
  • IMMEX registered technical contraband, surplus merchandise in +10% over declared volume, non-compliance with regulations, non-tariff restrictions, shell companies, etc.
  • Fictitious returns i.e. requests covering return of merchandise abroad without boxes containing it, false or altered documents, rental of programs for goods imports.
  • To strengthen program, work is done to identify reliable companies, establishing specific profiles, implementing commercial facilitation actions for reliable companies.
  • Also on elimination of duplicate requirements from various authorities, establishing measures to expedite, reduce cost and time in cross-border trade.
  • In addition, measures to reinforce, harden program cancellation causes will be issued.

Regulators MEX GVT
Entity Types Bank; Corp
Reference PR 1/11/2020; Com 003, 1/10/2020
Functions Compliance; Financial; Legal; Operations; Trading
Countries Mexico; Cross-Border
Products Banking; Commodities; Corporate; Loan
Regions Am
Rule Type Guidance
Rule Date 1/11/2020
Effective Date 1/11/2020
Rule Id 70139
Linked to
Reg. Last Update 1/11/2020
Report Section International

Last substantive update on 01/12/2020