Mexico Expands Authorization of Free Trade Zones to Include U.S. Firm
The creation of "strategic fiscal precincts" is designed to enhance Mexico's international economic competitiveness. SkyPostal's A.J. Hernandez notes that it also broadens importers' access to the booming Mexican consumer market.
MIAMI, July 13, 2021 /PRNewswire-PRWeb/ -- In Mexico, a "recinto fiscal" is comparable to a U.S. free trade zone—an area set aside by customs to store, handle, and supervise merchandise related to foreign trade. Within the recinto fiscal, there can be "recintos fiscalizados estratégicos," or RFEs, which are similar in function to a bonded warehouse—a place to store goods close to foreign customers for faster delivery. In certain cases, the RFE can certify the validity of content, tax, and delivery information about these goods without the need for Mexican customs inspection.(1) "By expanding the authorization of RFEs," says A.J. Hernandez, president and CEO of international business-to-consumer shipping firm SkyPostal, Inc., "the Mexican government is continuing a decade-long pattern of measures designed to strengthen the country's overall economic situation."
The RFE, notes Hernandez, is a relatively recent customs designation in Mexican economic law, and has not been widely explored from an operational point of view. It was added to Mexican customs law in June of 2016. There are 11 authorized RFEs in Mexico, in various parts of the country: Aguascaliente, Altamira, Ciudad Hidalgo, Ciudad Juárez, Ciudad de México, Colombia, Lazaro Cárdenas, Guaymas, Mazatlán, Tijuana, and Veracruz.(2)
The national government, says Hernandez, can also define a system of importation, such as a shipping company, as an RFE. SkyPostal, Inc., in fact, which is headquartered in Miami and does business all over Latin America, has recently been designated an RFE by the Mexican government. The approval process, says Hernandez, required multiple certifications and the posting of a bond of $1 million US. SkyPostal has a massive database of addresses and tax information that is transparent to the Mexican government.
Partly through the database and partly through long years of experience, says Hernandez, the company has established a level of trust with the Mexican government. To help maintain that trust, he adds, SkyPostal is required to maintain a high level of security, including carefully vetting employees and acquiring armored vehicles. "It's a win-win situation," he says. "We're saving money for the Mexican government, and we're helping ease the path for importation of products such as cosmetics, which have faced some delays and difficulties in reaching the Mexican market." Getting the RFE has allowed SkyPostal to import cosmetics into Mexico City. A feat, Hernandez adds, no other shipper can do.
SkyPostal, he says, is currently in conversation with other Latin American governments about establishing similar relationships with the customs organizations of those countries.
Meanwhile, SkyPostal is encouraging other importers to consider what Hernandez describes as a secure, streamlined alternative to the standard Mexican importation and customs process. "For 40 years," he says, "our mission has been to facilitate North American and European exporters' access to the rich but very complex Latin American market. We're grateful to the Mexican government for the level of trust they have shown us, and for agreeing with us that—properly managed—there is a better way for all concerned."
About SkyPostal:
SkyPostal was created in 2001 to meet the need for improved and efficient cross-border mail and parcel service from the United States and Europe to all countries in Latin America, the Caribbean, and Mexico. It is now the largest private mail and delivery network in Latin America, serving European postal administrations, major publishers, the world's largest ecommerce retailers, international shippers, and financial institutions that require reliable and secure delivery of their mail and parcels. For more information, please see http://www.skypostal.com.
1. David Romo, et al. "The Recinto Fiscal in Mexico." Tecma, 4 Mar. 2021, tecma.com/recinto-fiscal-in-mexico/.
2. "Strategic Fiscal Precincts and Special Economic Zones, the Future of Mexican Customs?" TLC Magazine Mexico, tlcmagazinemexico.com.mx/en/2020/10/28/recintos-fiscalizados-estrategicos-y-zonas-economicas-especiales-el-futuro-en-las-aduanas-mexicanas/.
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SOURCE SkyPostal
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