Phoenix-Hermosillo trade office increases business ties
Nov. 27, 2023
Phoenix is working to increase business ties with Mexico, Arizona’s largest international trading partner. The city is looking beyond the Mexican state of Sonora.
Juan Batres, Economic Development Program Manager for the City of Phoenix, joined Arizona Horizon to discuss the development.
“The trade office opened its doors for the first time in 2017. Over the years, we have updated our Mexico Trade and Investment Strategy to a point where we had to rededicate our office in March of 2021,” Batres said. “The office, for the most part, focuses on enhancing the trade relation with Mexico. We work with Phoenix companies and Mexican companies in identifying business opportunities.
The trade office conducts business attractions and fosters business-to-business connections in participating in trade missions. The office also showcases international opportunities.
Phoenix remains committed to its trade office in Hermosillo, Sonora, while focusing on Monterrey, the country’s third-largest city and a business hub in northern Mexico.
“The significance is that [Monterrey] is an area in Mexico where almost 70% of the foreign direct investment concentrates right now,” Batres said. “You see a lot of investment from Asian countries right now such as China, South Korea, Taiwan, and that is because by 2027, I call it NAFTA still, the North American Free Trade Agreement, is going to change in a way that if you’re not manufacturing in North America, you will not be able to take advantage of the trade agreement.”
During the 2022-23 fiscal year, the Phoenix–Hermosillo trade office assisted 166 businesses.