The OECD ranked the main changes in Mexico‘s services trade policy over the last decade.

Nine of the following 10 changes were selected by the OECD, corresponding to the period between 2014 and 2023.

Services trade policy

The changes were included in the report OECD Services Trade Restrictiveness Index: policy trends to 2025, released Wednesday.

Films

In 2024, Mexico introduced a special stimulus for investment projects in domestic film production and distribution, limited to individuals and entities resident in Mexico or abroad.

Air Transportation

In 2023, Aerolínea del Estado Mexicano, S.A. de C.V., a new majority state-owned company in the Mexican air transportation services sector, was created.

Banking services

In 2022, Mexico adopted IFRS 9 for financial instruments, aligning national accounting standards in the commercial banking services sector with international standards.

Infrastructure

In 2020, the adoption of the Quality Infrastructure Law promoted the harmonization of national construction standards with international standards. This law also required national norms, standards and verification processes for infrastructure and other relevant construction services to be based on international standards.

De minimis

Effective June 2019, Mexico reduced the de minimis threshold below which tariffs are not imposed on imports to USD 50 (instead of USD 300), affecting business operations in the distribution, logistics and courier services sectors.

Airlines

In 2017, Mexico removed restrictions on foreign equity ownership in domestic air transport services; foreign ownership of airlines is now allowed up to 49 percent.

Insurance services

The 2015 financial reform aimed to strengthen prudential regulation, increase credit penetration, and promote competition. As a result, foreign financial institutions can now open branches in Mexico to provide insurance services. While this possibility is still subject to government authorization and is granted on the basis of reciprocity, it increases certainty and clarity about the regulatory environment applied to insurance services.

Railroads

Also in 2015, Mexico established an independent railroad regulatory agency.

Telecommunications

In 2014, the new telecommunications law facilitated foreign participation in the mobile and fixed-line segments of the sector. It also introduced a new independent regulator, with exclusive authority over the sector and new sanctioning powers, and a series of pro-competitive measures that challenge the dominant position of incumbent companies.

Labor legislation

The Federal Labor Law regulates telecommuting, establishing obligations for both employers and workers. It also guarantees the right of workers to voluntarily return to face-to-face work. This law underwent three reforms in 2021. The first reform occurred on January 11 and sought to regulate the conditions of telecommuting. Subsequently, on March 30, it was again amended to ensure that the annual increase in the minimum wage is at least equal to the previous year’s inflation. Finally, on April 23, it was amended to limit the use of subcontracting.