Mexico's membership of the North American Free Trade Agreement (NAFTA) since 1994 has attracted major investment from foreign countries. The focus of the foreign investment is on manufacturing. Nearly all the world's major companies are now present in Mexico. For example, according to the Economic Development Secretary from the Mexican state of Baja California, the state hosts 90 companies from Japan, 25 Taiwanese companies, five from Hong Kong, four from Singapore, and three from Malaysia. Other Mexican states boast similar numbers to Baja California in terms of foreign company presence.
             The United States receives 85 % of Mexico's exports and is the source of 75% of Mexico's imports. Other countries that are main sources of Mexico's imports include Canada, Japan, and Spain. Although the USA is the main contributor to Mexican imports, these countries contribute approximately ¼ of the rest of the market. Imports include machinery and transport equipment, agricultural products, chemicals, iron, steel, processed foods, petroleum products, beverages, and tobacco. Exports in Mexico increased by about $17 billion from 1999 to 2000, and electronic equipment and appliances make up the majority of them. Other exports are automotive vehicles, auto parts, and clothing. Main destinations are the US, Canada, Latin America, the European Union, and East Asia.
             Mexico has much stronger ties with the United States since the trade agreement in 1994. Since then, there has been a major economic shift in Mexico from being an oil-based economy to a manufacturing-based economy. The country's import-export business has boomed since 1994, especially in the car and light manufacturing industries. In addition to NAFTA, Mexico signed a comprehensive free trade agreement with the European Union in 2000. Mexico has overtaken Costa Rica as Latin America's fastest growing economy. Mexico achieved strong economic growth throughout the late 1990s and i...