Today, the 13th of February, Chambers & Partners Global Guide 2020 was released and Vázquez Tercero & Zepeda appeared in Band 1 in the International Trade / WTO Law practice in Mexico. Over the past eight years, our firm has appeared in this important legal guide, consolidating itself as one of the leading law firms in international trade matters in Mexico.
The Chambers & Partners Global Guide 2020 defines our firm and team as:
“the team is known for Pace-setting player in international trade matters, routinely singled out for its anti-dumping and countervailing duties expertise. Regularly receives mandates from acclaimed clients in the metal, chemical and consumer products sectors, with particular strength in representing clients from Asian markets. NAFTA verifications of origin, customs compliance advice and representation before the Mexican tax authorities are additional areas of expertise.”
An interviewed source described Adrián Vázquez as “an expert in international law and is bright and experienced in this field.” Another source adds that “He’s always sharp and has been in the field for a long time with a steady practice.“.
As for Eduardo Zepeda, Chambers & Partners described him as a lawyer with a “solid knowledge of Mexico’s maquiladora industry, he often advises clients on the interactions between tax and customs laws in Mexico.”
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As reported in a news portal, in 2019 Mexico surpassed China in the commercial exchange with the US, taking into account imports and exports according to US figures. As a result, Mexico became the main trading partner of the US in 2019; accordingly, since 2005 Mexico has not been in said position. Obviously, this displacement is due to the Chinese and US trade conflict, as well as the growth of the US economy.
This is not a novelty, UNCTAD conducted a study on the effects of the US-China trade war on trade flows last year. In short, several countries have occupied part of the “void” that China has left, including Mexico, Taiwan, Vietnam, among others. See our summary of the UNCTAD report for more details here.
According to the figures from the Department of Commerce, Mexico increased its exports to the US 3.47% in 2019 compared to 2018, while China’s exports decreased by 17%, the above is reflected in the following table:
In this regard, the president of the National Association of Importers and Exporters of the Mexican Republic (ANIEM), Gerardo Tejonar Castro, acknowledged that there was no way for the national industry to completely fill the void left by China and said that these results may be temporary because, on the one hand, China has already reached the Phase 1 Agreement.
Legal Amendments & International Trade
After a series of steps to reform Mexico’s Harmonized Tariff Schedule (MHTS) that included public consultations, yesterday the Commission on Economy, Commerce, and Competitiveness of the Chamber of Deputies discussed the new Law on General Import and Export Taxes (LIGIE), as well as reforms and additions to the Customs Law.
The new LIGIE will implement the sixth amendment of the Harmonized System of the World Customs Organization to improve the identification and classification of the goods. In particular, the sixth amendment addresses the classification of the following goods: fishery products, forest products, anti-malaria, chemicals, and technology advances.
Needless to say, the MHTS has not been revised comprehensively since its creation, therefore, the Ministry of Economy took the task of conducting an exhaustive review. In that sense, it is planned to eliminate tariff items by low trade and, therefore, to compact tariff items, and unfolding tariff items for statistical purposes into 10 digits, which will be called Commercial Identification Number, instead of the current 8 digits.
Vázquez Tercero & Zepeda (VTZ) is ranked in Band 1 of Chambers and Partners’ Latin American 2020 Guide, sharing the spot with two other firms. For the past seven years, VTZ has established itself as a leading law firm within this ranking.
This guide notes VTZ as a “pace-setting player in international trade matters”, from antidumping investigations, verification visits, to maquiladora (IMMEX) industry. Chambers also highlights that VTZ “routinely receives mandates from acclaimed clients…”, and that sources consider VTZ as the most experienced firm in trade remedies and that the firm is “really practical and [VTZ’s] advice was very reasonable and actionable”
In addition, two VTZ partners are listed as leading lawyers and individuals in the field of International Trade/WTO Law:
On December 5, 2018, Best Lawyers, an influential lawyer ranking service in the world, announced the “Firm Award in Mexico”, in conjunction with the 10th Edition of The Best Lawyers in Mexico, in which our Managing Partner, Adrián Vázquez, and our Partner Eduardo Zepeda are recognized as the Best Mexican Lawyers in Trade Law practice. This publication awarded 12 law firms in 14 different practice areas, such as competition, intellectual property, among others.
We are proud to inform that our firm, VTZ, is recognized as the Mexican “Law Firm of the Year” in Trade Law. In VTZ, we are humbled and thank our clients that have stored their trust in us and our services. VTZ congratulates all of its team members because the results, recognition, and awards are not be possible without their hard work and professionalism.
This award encourages us to continue striving to provide top-notch legal services in international trade law matters with the sole purpose of supporting our client’s businesses.
To see the Press Release, please click here: Press Release – “Law Firm of the Year”
Furthermore, we are also proud to announce that our Managing Partner, Adrian Vázquez, is listed as leading lawyers. Finally, the Legal 500 also recommends other three VTZ Members, Eduardo Zepeda, Eduardo González Espinosa and Verónica Vázquez Bravo.
To access the review, please click the following link: Legal 500 – IT&C – Mexico
Our Managing Partner, Adrián Vázquez, as well as our associates, Mariana Malvaez and Emilio Arteaga, have contributed to Thomson Reuters‘ International Trade and Commercial Transactions Global Guide, in which they responded to a Q&A guide concerning the International Trade in Goods and Services in Mexico.
This Q&A covers key matters relating to the regulation of international trade in Mexico, including recent trends, trade agreements, trade negotiations, rules relating to the supply of services, imports and exports requirements, trade remedies, and international trade restrictions.
To access the guide, click the following link: International Trade in Goods and Services in Mexico.
Customs Law, export requirements, featured, Free Trade Agreements, import requirements, international sanctions, International Trade, international trade restrictions, Mexican Lawyers, Mexico, Thomson Reuters, Trade Law, trade negotiations, trade remedies