Business in Mexico tends to be conducted formally, particularly in initial meetings. Face-to-face contact is important in order to build a good working relationship. Dress tends to be formal with suits and ties the norm, though it can be more relaxed in hotter areas. It is always important to be punctual, although your counterpart might be late. Greetings are polite and formal, using surnames and titles unless otherwise indicated. A handshake is standard, though follow your host's lead - if pulled forward, or your host leans forward, put your left arm around his back and pat firmly (known as abrazo).
Business cards are usually exchanged and it can be helpful to have them printed in English on one side and Spanish on the other. English is used in a business context, but an attempt at speaking Spanish will be highly appreciated. Women should be aware that business is Mexico is very male dominated. Business hours can vary, though usually from 9am to 5pm, often closing at lunchtime for an hour.
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