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.
- 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.
||PR 1/11/2020; Com 003, 1/10/2020
||Compliance; Financial; Legal; Operations; Trading
||Banking; Commodities; Corporate; Loan
|Reg. Last Update
Last substantive update on 01/12/2020