During these nearshoring times, communicating from Mexico to Asian countries can be complex. There are several factors that interfere in the relationship between Mexico and Asian countries, such as cultural, linguistic and time differences. With proper planning and the use of the appropriate communication tools, these challenges can be overcome to achieve successful foreign direct investment (FDI). 

At BASE, we understand how challenging it can be navigating nearshoring without the necessary tools for successful negotiations with Asian countries. Here are some of the key challenges:

Language barriers: language is the most significant barrier, especially if there is no staff fluent in the local languages. This complicates communication within contract negotiations, problem resolution and daily operation.

Cultural differences: another important matter is the cultural differences which can influence how instructions are perceived, decisions are made and conflicts are managed. It's important to understand and respect the cultural norms of each country to avoid misunderstandings and conflicts.

Different time zones: the time zone difference between Mexico and Asian countries can be a challenge in which business people need to navigate to coordinate meetings and communicate in real-time. This may require flexibility from both parties and the establishment of work schedules that allow effective collaboration.

Technology and communication tools: thankfully we live in a digital world where communication through different virtual platforms can help connect despite the time difference. Using appropriate communication tools, such as video conferences, emails, and instant messaging apps, can help overcome geographical and linguistic barriers. However, it's important to ensure that all parties are comfortable with these technologies and know how to use them properly. For example, for the China market the app preferred is Wechat, for the Korean market the preferred app is Kakao and in Japan is the app Line.

Having a bank that has financial advisors from China, Japan and Korea can help your enterprise take part in the Nearshoring moment. At BASE, we work every day to make your day-to-day operations smooth and simple by providing experienced advisors who offer:  

1. Local knowledge: advisors can provide detailed information on foreign market conditions, local financial regulations and business practices in their respective countries, helping you make informed business decisions that will help you to reach your target market.

2. Network to access business relationships: as in Asia, the local network is a very important factor while doing business in Mexico. Therefore, our advisors can help establish and maintain strong business relationships with the financial institution and clients in the region, facilitating the “friendshoring” process and increasing business opportunities for our clients. Financial advisors often have an extensive network of contacts and resources in the region, which can benefit your strategic relocation in terms of access to local supply chain, talent, investment opportunities and collaborations.

Our dedicated desks for China, Korea and Japan markets are a valuable strategy for the bank looking to leverage the nearshoring opportunities in the Asian region by providing specialized knowledge, facilitating business relationships and improving cultural understanding.

3. Cultural understanding: understanding business culture and local values is crucial for success in international business. Our advisors support BASE to better understand the cultural variations and avoid misunderstandings that could obstacle the flowing of  business relationshiHaving financial advisors from China, Japan and Korea can be a valuable strategy for investors and companies that are looking to leverage Nearshoring's opportunities between Asian countries and Mexico by promoting specialized knowledge, facilitating business relationships, improving cultural comprehension and making all the process easier and simpler.

Recognized by FitchRatings, S&P Global and Moody’s, BASE is a solid and unified bank with more than 38 years of experience. We are experts in foreign exchange and international payments, offering tailored hedging and FX solutions to help you invest in Mexico, achieve a soft landing and reach international markets. Contact us today to learn how we can support your international business operations.

During these nearshoring times, communicating from Mexico to Asian countries can be complex. There are several factors that interfere in the relationship between Mexico and Asian countries, such as cultural, linguistic and time differences. With proper planning and the use of the appropriate communication tools, these challenges can be overcome to achieve successful foreign direct investment (FDI). 

At BASE, we understand how challenging it can be navigating nearshoring without the necessary tools for successful negotiations with Asian countries. Here are some of the key challenges:

Language barriers: language is the most significant barrier, especially if there is no staff fluent in the local languages. This complicates communication within contract negotiations, problem resolution and daily operation.

Cultural differences: another important matter is the cultural differences which can influence how instructions are perceived, decisions are made and conflicts are managed. It's important to understand and respect the cultural norms of each country to avoid misunderstandings and conflicts.

Different time zones: the time zone difference between Mexico and Asian countries can be a challenge in which business people need to navigate to coordinate meetings and communicate in real-time. This may require flexibility from both parties and the establishment of work schedules that allow effective collaboration.

Technology and communication tools: thankfully we live in a digital world where communication through different virtual platforms can help connect despite the time difference. Using appropriate communication tools, such as video conferences, emails, and instant messaging apps, can help overcome geographical and linguistic barriers. However, it's important to ensure that all parties are comfortable with these technologies and know how to use them properly. For example, for the China market the app preferred is Wechat, for the Korean market the preferred app is Kakao and in Japan is the app Line.

Having a bank that has financial advisors from China, Japan and Korea can help your enterprise take part in the Nearshoring moment. At BASE, we work every day to make your day-to-day operations smooth and simple by providing experienced advisors who offer:  

1. Local knowledge: advisors can provide detailed information on foreign market conditions, local financial regulations and business practices in their respective countries, helping you make informed business decisions that will help you to reach your target market.

2. Network to access business relationships: as in Asia, the local network is a very important factor while doing business in Mexico. Therefore, our advisors can help establish and maintain strong business relationships with the financial institution and clients in the region, facilitating the “friendshoring” process and increasing business opportunities for our clients. Financial advisors often have an extensive network of contacts and resources in the region, which can benefit your strategic relocation in terms of access to local supply chain, talent, investment opportunities and collaborations.

Our dedicated desks for China, Korea and Japan markets are a valuable strategy for the bank looking to leverage the nearshoring opportunities in the Asian region by providing specialized knowledge, facilitating business relationships and improving cultural understanding.

3. Cultural understanding: understanding business culture and local values is crucial for success in international business. Our advisors support BASE to better understand the cultural variations and avoid misunderstandings that could obstacle the flowing of  business relationshiHaving financial advisors from China, Japan and Korea can be a valuable strategy for investors and companies that are looking to leverage Nearshoring's opportunities between Asian countries and Mexico by promoting specialized knowledge, facilitating business relationships, improving cultural comprehension and making all the process easier and simpler.

Recognized by FitchRatings, S&P Global and Moody’s, BASE is a solid and unified bank with more than 38 years of experience. We are experts in foreign exchange and international payments, offering tailored hedging and FX solutions to help you invest in Mexico, achieve a soft landing and reach international markets. Contact us today to learn how we can support your international business operations.