By Glenn Hamer, TAB CEO
Addressing the Mexican Federal Senate was an honor and an opportunity to reinforce the significance of nearshoring in the North American region. I’d like to extend my gratitude to Senator Gina Cruz Blackledge for organizing the event so that we had the opportunity to continue this critical conversation with leaders in both the government and private sectors.
Texas’ partnership with Mexico, particularly the neighboring states of Chihuahua, Coahuila, Nuevo Leon, and Tamaulipas, has been instrumental in our economic success. Nearshoring can become a driving force that will expedite both nations’ economic growth and make us more competitive on the global stage. This would require increased cooperation and discussion between the private sector leadership in Texas and Mexico, in order to reinforce our alliance and assert our binational trade dominance.
As I mentioned in my testimony, the CHIPS Act of 2022 holds the key to fortifying our regional economic prowess. The legislation primarily focuses on securing funding for research and development in emerging industries, marking a significant milestone. To harness the full potential of the CHIPS Act, and any future proposals, it’s imperative that we actively strengthen our international trade relations, specifically with our number one partner, Mexico. A more divisive and concerted partnership between leaders in Texas and Mexico is imperative. Through increased collaborative efforts, we can identify solutions to challenges currently hindering trade and propose alternate options to make our economic relationship more efficient.
Here at the Texas Association of Business, we're dedicated to being a constructive and engaged partner when it comes to advocating for our economic relationship with Mexico. Our commitment is to drive the future of our Texas-Mexico economic partnership, creating opportunities for both sides of the border to thrive together.