AGUASCALIENTES, AGS.- The Mexican Business Council for Foreign Trade, Investment and Technology (Comce) and the Economic Development Corporation of the City of Pharr (Pharr EDC) signed a Memorandum of Understanding (MoU) that aims to promote investment projects, facilitate trade exchange and encourage cooperation in strategic sectors (such as the talent incubator) between both parties, which means an important step towards strengthening trade relations between Mexico and the Pharr region, Texas.
On the eve of the 30th Mexican Foreign Trade Congress , the signing ceremony highlighted the importance of this alliance to promote regional economic development and the opportunities it will bring for Mexican and American businessmen .
“Activities can be developed with such dynamic cities to be integrated in a very important way. It will be very interesting to get to know this and to be able to promote it so that people know the opportunities that are presented for Mexican and American companies,” said Sergio Contreras Pérez, executive president of Comce.
He also highlighted that trade activities between Mexico and the United States amount to nearly 800 billion dollars (mdd), of which more than 25% is carried out with Texas , which is why it is important to have this agreement with Pharr.
The signing of this MoU also highlights Pharr’s strategic position as one of the main commercial crossing points between the United States and Mexico, with a focus on strengthening supply chains and improving competitiveness in the region.
Both Comce and Pharr EDC agreed that this agreement will open new avenues for collaboration and enable sustained growth in key areas such as logistics, cross-border trade, technology and manufacturing.
“This is a historic moment for us, we are expanding and signing important agreements for the economic development of the city of Pharr. Collaboration is the only way to do things, working together, we can’t do it ourselves, we need you,” said Victor Perez, president and CEO of Pharr EDC.
Pharr
Located in southern Texas, the border city is part of the Rio Grande Valley, so with a prime location near the border with Mexico, Pharr is one of the main commercial access points between the two countries.
In this regard, Lilvette Santos, Director of Business Economic Development at Pharr EDC, highlighted that the Pharr International Bridge handles around $46 billion in trade annually, being the third largest border bridge in terms of value and the first in terms of perishable goods.
The bridge expansion, which includes the addition of four lanes, additional loading areas and agricultural laboratories , seeks to double its operational capacity and improve efficiency in the crossing of goods, with a projected completion between 2026 and 2027.
This project will not only alleviate congestion at other border points, but will also strengthen trade between Mexico and the United States by improving logistics and competitiveness in the region.
Additionally, Pharr’s strategic location in a trade corridor connecting to key cities such as Dallas, San Antonio, Houston, Monterrey and Mexico City reinforces its essential role as a transit hub for goods in international trade.
Santos also stressed that the city has experienced significant growth in recent years, consolidating itself as a key hub for logistics, trade and industrial development.
Its proximity to the border and efficient transportation connections have attracted companies from various sectors, from manufacturing to agriculture, and it also has a solid infrastructure and resources to support the growth of international businesses, making it an ideal place for investment and commercial expansion.
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