Mexican congress enacts customs law reform to promote concessions for foreign trade zones in Mexican ports

On December 1, the Mexican congress enacted a series of reforms to the customs law that will have a positive effect on new foreign trade projects. Private parties, with the possibility of foreign participation, will now be eligible to get a concession to act as a foreign trade zone if they have possessory rights on tracts of land located within or adjoining a port zone. This reform will promote new investments in private terminals within large industrial ports, to offer services for the handling, storage, and custody of foreign trade goods, and will help attract particular commodities for clearance through the Mexican port system.