As the world’s major news and investment organizations continue to sit up and take notice of Mexico’s economic strength,the term “Aztec Tiger” – which was originally coined by the Financial Times – is quickly gaining popularity among savvy international investors. Fox News reports on the multidimensional aspects of Mexico’s continually expanding role on the world stage,including the ambitious agenda of President Enrique Peña Nieto,who has been in office just three months.
“Mexico is of priority interest because of its core values and its strong record of promoting trade and investment along with growth and effective institutions,” writes Fox. “Mexico should be able to maintain its new momentum and also transition to a higher-profile global leadership role.”
According to Fox,Mexico’s economy already ranks among the world’s most open and competitive,a status that has been growing since it first opened up during the mid-90’s with the signing of the North American Free Trade Agreement (NAFTA). Since then,trade between Mexico real estate and the rest of the world has sharply increased,realizing a more than 475 percent increase in the export market and a 342 percent increase in the import market between 1994 and 2011.
In fact,Mexico now holds 12 free trade agreements,providing preferential access to 44 countries including the European Union and Japan,which is more than any other nation in the world. In 2012,Mexico also joined negotiations for the proposed Trans-Pacific Partnership (TPP),which is expected to help create a more strategic approach to trade relations throughout the hemisphere.
“Mexico has developed its stature on the international stage largely through trade,” writes Fox. “The country is now majority middle class: 17 percent of Mexicans joined the middle class from 2000 to 2010 according to the World Bank. This new middle class is younger,more educated,wealthier and healthier and far more likely to protect their economic gains and hold their government accountable.”