World Business Chicago (WBC) today signed a memorandum of understanding (MOU) with ProMexico, the Mexican Government institution in charge of strengthening Mexico’s participation in the international economy. The MOU is the first of its kind, connecting Chicago to a nation’s economic development agency, and it signals the next step in a promising relationship that is developing between the two organizations.“I’m pleased that World Business Chicago and ProMexico are formally strengthening ties and seeking opportunities to grow Mexican businesses in Chicago, while strengthening economic relationships between Chicago businesses and Mexico,” said Chicago Mayor Rahm Emanuel. “It is essential that we build upon our strong connections to foster economic growth and opportunity for both Chicago and Mexico.”
“This MOU is a milestone of the already very strong relationship between the Chicago and Mexico communities,” said Minister Jorge Lopez, ProMexico and NAFTA Director. “We will be working with the businesses on both sides, to generate more projects in Chicago and Mexico, which ultimately will translate to additional job creation. We deeply appreciate Mayor Emanuel’s efforts in supporting and generating business environment that will foster the establishment of Mexican companies in Chicago and we thank the Board Members of World Business Chicago and ProMéxico for their unconditional support in promoting business on both sides of the border. We are sure that this MOU will be an accelerator and facilitator for the business community and I’m very glad to know that Mexico and Chicago are truly NAFTONIAN.”
Mexico is one of Chicago’s most important areas for outreach and opportunity. Already, ProMexico has provided WBC with information about Mexican corporations that are considering investment in the U.S., and WBC is sharing information about business conditions here. The local ProMexico board is actively engaged in making Chicago a better place to do business and strengthening trade and investment ties between Chicago and Mexico.
Attending today’s signing from ProMexico and WBC were:
Pro Mexico:
- Jorge Lopez, Regional Director for North America, ProMexico
- Eduardo Arnal – Consul General of Mexico in Chicago
- Blaca Berthier – Executive Director, US Mexico Chamber of Commerce
- Joaquín Boeker – CFO, Thyssen Krupp
- Ramon Cepeda – Northern Trust
- Servando Galvan – Senior Operations Director, Littelfuse
- Mike Lynch
- Candace Mueller – Sr. Director of Communication, Quaker Foods North America
- Enrique Perret Erhard – ProMéxico Chicago
- Juan Carlos Rodríguez Villava – ProMéxico Chicago
- Manuel Sanchez – Founding Partner, Sanchez & Daniels
- Alejandro Silva – Chairman and CEO, Evans Food
- Alejandro Silva Jr. – Founder, Silva Capital Management
World Business Chicago:
- Rita Athas – World Business Chicago
- Leroy Allala – Executive Director, Chicago Sister Cities Interrnational
- Jonathan Evans – VP Corporate Affairs, ThyssenKrupp
- Jack Fortnum – President, North America Ingredion
- Dean Harrison – President and CEO, Northwestern Memorial HealthCare
- Sharon Thomas Parrott – Senior Vice President of External Relations, DeVry Inc.
An estimated 119 Chicago-based companies have a presence in Mexico, including 64 in Chicago’s Sister City, Mexico City. There are approximately nine daily nonstop departures from Chicago to Mexico. Chicago Customs District exports to Mexico in 2012 totaled $368 million, led by pharmaceuticals, machinery/computers and optic/photo/medical instruments; imports from Mexico in 2012 totaled $243 million with electronics, machinery/computers, and optic/photo/medical instruments leading.
The MOU signing aligns with many of WBC’s Plan for Economic Growth and Jobs strategies to accelerate Chicago’s economic development, including increasing the region’s attractiveness as a center for global business services and headquarters and making Chicago a nationally leading exporter.
ProMexico is the Mexican Government institution in charge of strengthening Mexico’s participation in the international economy. With this objective in mind, the institution supports the export activity of companies established in the country and coordinates actions to attract foreign direct investment to national territory.
