The Latin American Lawyer magazine Volume I - 2016 | Page 4

Spotlight on Pacific Alliance
‘Despite currency devaluation and low oil prices, Mexico is a
great place to invest’
15 December 2015
Mexico in 2016
“One of
the biggest
challenges for
the Mexican
legal market in
2016 will be to
maintain the
level of growth
we have had.
Looking back,
Daniel del Rio
2014 was a
senior partner, Basham
great year, and
while 2015 had had its challenges, it was
also good. Unfortunately, during 2015 we
saw a slowdown in M&A and the energy
reform didn’t bring the expected boost to
the economy, partially due to low oil prices.
However, the level of work was good,
balanced, with a great volume of midmarket
deals. The economy overall received a lift
from the growth of internal demand.
The global economic slowdown and the
Mexican peso devaluation during the last
year have also impacted the economy and in
2016 the country will work on overcoming

those challenges. Mexico will remain a
great place to invest in, with drivers such
as tourism, exports and remittances on the
up or at least maintained. The costs are low
and competiveness remains high. Internal
demand is expected to be maintained or
even grow.
The Mexican legal market in 2016
“Law firms will capitalise on new and
existing opportunities, the energy reform
might be slower than planned but it is
happening and that keeps generating
work. Other areas such as anticorruption
and corporate compliance will keep
growing. The reforms in other areas such
as tax and labour law will also create more
opportunities. We have a very open legal
market and competition is very strong,
which is a great thing.
Law firms need to keep up the quality,
and grow stronger as institutions, so you
can adapt to the market and the evergrowing demands from clients. Clients are
no longer for life – you need to keep up the
hard work to keep them.”

Basham in 2016
“Basham has grown strategically over the years, as a solid institution, foreseeing
changes on the horizon and adapting to a fluid and competitive market, with
quality always at the top of the agenda. For 2016, Basham will maintain that line and
strengthen key areas where we see demand. The north of Mexico is now attracting
more investment activity than ever so we expect our Monterrey office to grow.
Elsewhere, our Querétaro team is also gearing up for an uptick in work in the central
area of the country, particularly in the automotive and aeronautical industries.
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• THE LATIN AMERICAN LAWYER • 2016

In an election year, Peru is expected to remain attractive
to investment´
14 April 2016
Peru in 2016
“2016 is an
election year
in Peru, for the
Congress and
the President.
Some investors
are waiting
to see what
happens with
the elections.
Luis Carlos Rodrigo Prado,
managing partner, Rodrigo,
However, the
Elías & Medrano
last two months
of 2015 were very active – it was actually
a surprise to see the proposals coming in.
There is a certain degree of uncertainty
as normally election processes slow
everything down and it has an effect on
investment, however, the first six months
of 2016 might end up different to what has
happened during previous election years.
On the other hand, two important
sectors in the Peruvian economy are
suffering – mining is affected because of
a slowdown in commodity demand and
fishing has been impacted by the ‘El Niño’
weather event, which is expected to be

worse in 2016. Fishing season might be
shorter or cancelled in 2016, with negative
consequences for the economy.
However, Peru is expected to grow
around 4 per cent – and the presidential
candidates are seen as pro-business – so
2016 might end up being a good year for
the economy.”
The Peruvian legal market in 2016
“The ups and downs of the economy are
reflected in the legal market with some law
firms better placed to make the most of
opportunities. While M&A slowed down
in 2015 overall, the last quarter of the year
saw a spike in transactions. There is more
demand from clients for counsel on tax
and labour issues and also noticeable is the
growth in litigation and arbitration. Law
firms are being cautious and also flexible in
order to capture those opportunities.
No major regulatory changes are
expected in the legal market, international
law firms will continue to open offices in
Peru and national law firms have to become
more efficient to continuously improve
service delivery to clients.”

Rodrigo, Elías & Medrano in 2016
“We will continue to grow, capturing opportunities relevant to us, making sure we
have a tactical plan for every practice area. Certain practice areas we already cover will
gain more prominence in 2016 and our firm is prepared to meet demand in areas such
as public infrastructure investment, regulatory, compliance and anti-corruption.
Following changes in labour regulations and procedures, we also expect an increase
in labour litigation. This is an important area of growth for our law firm. “
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