SBTM April 2015 | Page 16

EDITORIAL FEATURE Doing Business in Mexico By Ludmila (Mila) Rusakova Golovine A merican businesspeople looking to engage in international business ventures, one country stands out among all others - Mexico.  First, the United States shares its entire southern border with the country.  Second, there is already a longstanding history of business cooperation between our two countries.  Last but not least, Mexico has the thirteenth largest economy in the world and it is only growing.  All of these factors make Mexico an extremely attractive place to do business.  Nevertheless, just because we are so close does not mean business etiquette is the same.  There are subtle differences in Mexican culture that must be learned and adapted so that your business venture will be accomplished successfully. ly formal meetings, so please keep this in mind.  For women, dark business suits or dresses are preferable.  If the meeting is taking place in a more tropical area, more casual dress is allowed such as pants and a light shirt.  Regardless of the situation, you should try to look as formal as possible just to be on the safe side. Upon meeting your Mexican counterpart, it is customary to shake hands.  If the relationship has already developed between businesspeople, it is not uncommon for a woman to give a small kiss on the cheek or for men to give each other a short hug.  Bear in mind that there is more physical contact in Mexican business culture.  It is not at all uncommon for a Mexican businessman to touch his counterpart’s shoulder or hold him by The first issue is the concept of time.  the arm.  This is a friendly gesture.  Any Quite simply, it is not viewed the same recoil will be taken as an insult and can way in Mexico as it is in the United harm the business relationship, so please States.  Americans typically think of time adapt accordingly. as money but this not how it is considered in Mexico.  Most Mexicans prefer to Your way of addressing your Mexican take their time believing that you work counterpart is also important.  In Mexiin order to live and not vice versa.  Punc- co, people usually have three names: the tuality is fairly lax.  Do not be insulted if first name, the father’s last name, and your Mexican counterpart is a half hour the mother’s last name.  As a rule, you late.  This is a standard business prac- should address someone by the father’s tice.  Nevertheless, you should always be last name with the appropriate title, such punctual to meetings.  It is advisable to as in the case that the person is a docjust take this cultural difference in stride tor.  It is incorrect to use the mother’s and accept it as part of doing business. last name.  Typically American businesspeople will switch to first names very Your appearance is also important.  For ]ZX