Mexico and Korea Trading Negotiation/Relationship

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Differences between Mexican and Korean negotiation methods with Geert Hofstede model

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Mexico and Korea Trading Negotiation/Relationship

  1. 1. Mexico
  2. 2. Mexican Economy <ul><li>GDP - real growth rate: 3% (2007 est.) </li></ul><ul><li>GDP - per capita (PPP): $12,500 (2007 est.) </li></ul><ul><li>GDP - composition by sector: agriculture: 3.9% industry: 26.3% services: 69.9% (2007 est.) </li></ul><ul><li>Budget: revenues: $209.2 billion expenditures: $209.2 billion (2007 est.) </li></ul><ul><li>Public debt: 23.1% of GDP (2007 est.) </li></ul>
  3. 3. Korea’s Largest Latin Trade Partner <ul><li>In 2004, exports to Mexico stood at over $3 billion, some 25.8 percent of all exports to Latin America ($11.6 billion). </li></ul><ul><li>Mexico’s top exports to Korea include ores, minerals, lumber, marine products and beef. </li></ul><ul><li>More than 65 percent of Korean exports to Mexico are destined for re-export to the United States. </li></ul>
  4. 5. Economic Growth <ul><li>Mexico integrating its economy as part of the North American Free Trade Agreement (NAFTA) block. </li></ul><ul><li>Increasing levels of two-way investment with Korea.  </li></ul><ul><li>Prospects for Korean companies across a wide range of sectors, including: oil and gas services; mining equipment and services; telecommunications; automotive; aerospace; power; and environmental applications. </li></ul>
  5. 7. Negotiation Tips <ul><li>* Likely to make individual </li></ul><ul><li>agreements </li></ul><ul><li>* Personal relationship </li></ul><ul><li>essential </li></ul><ul><li>* Time is flexible </li></ul><ul><li>Mexicans much less likely to question authority </li></ul><ul><li>More individualistic </li></ul><ul><li>More male-dominated </li></ul><ul><li>Less avoidance of uncertainty </li></ul>
  6. 8. Mexican Web Resources <ul><li>http://kr.youtube.com/watch?v=0YmL146DCqY </li></ul><ul><li>http://kr.youtube.com/watch?v=CpsGGmBVik8 </li></ul><ul><li>http://kr.youtube.com/watch?v=hRUZVoM1ewM </li></ul>

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