Type to search

Featured General Biz News

Puerto Rico’s commercial mission looks to plant flag in Mexico

A delegation of 22 Puerto Rican entrepreneurs traveled to Mexico City to create commercial alliances that result in the expansion of business in both markets, with the Department of Economic Development and Commerce (DDEC, in Spanish) Secretary Manuel Cidre and Gov. Pedro Pierluisi leading the mission.

“For the past two years, Puerto Rico has experienced sustainable economic growth with new business opportunities, expansion of multiple companies and job creation, resulting in our island having the lowest unemployment in its history and its economic indicators in consistent positive territory,” Pierluisi said.

“This trade mission to Mexico allows us to continue expanding the offer that our island has to do business and increase the export of our products and services, which will be of great benefit to all Puerto Rican entrepreneurs who accompany us,” the governor added.

During the trade mission, which seeks to advance commercial negotiations with the government and Mexican companies, Pierluisi will be the keynote speaker at the “Investment Opportunities in Puerto Rico” forum.

The trade mission is another of the initiatives of the DDEC’s strategic framework, named PRopósito, which, among other goals, identifies and develops new opportunities to export the island’s products and services.

In addition to the “Investment Opportunities” forum in which the DDEC secretary; the Puerto Rico Tourism Company; Invest Puerto Rico; and the island’s destination marketing organization, Discover Puerto Rico will deliver presentations, the agenda includes a second forum that will be composed of executives from C2S Consulting LLC, GFR Media and Claro Puerto Rico.

“It is the ideal juncture to promote Puerto Rico with Mexican entrepreneurs in sectors where it has vast experience and growth such as pharma, aerospace, IT, agribusiness and food manufacturing, tourism and emerging companies,” Cidre said.

“We’re attracted by the legal and financial structure, the relationship with the United States, a developed workforce, location, logistics, connectivity and tax benefits, as well as proven and experienced world-class talent in the pharmaceutical industry and an ideal business ecosystem for the development of the industry,” said Cidre.

Puerto Rico has extensive experience, with more than six decades of expertise, in industries such as drug manufacturing and medical devices, which has resulted in the production of more than one thousand medicines, including five of the 10 best-selling pharmaceuticals in the world.

These sectors contribute 33% of gross domestic product, producing more than $50 million a year in exports, and Mexico, with a population of 130 million, exported a total of $494 billion in 2021 and imported $522 billion.

The trade mission wants participants to be able to start or increase their export activity in the Mexican market, where they will gain experience on the country’s business climate, generating new contacts and establishing export strategies.

The trade mission will begin with a talk about business opportunities in the market, then entrepreneurs will meet individually with potential buyers for their products or services, among other related activities. 

The commercial mission received a grant under the State Trade Expansion Program (STEP), which promotes increasing the number of exports of products and services of local companies to international markets.

“The commercial dynamics are very interesting and there is a great diversity of companies that want to do business with Mexico, so they must know its laws, regions, how it is divided and take advantage of its trade,” said Juan Manuel Calderón, consul of Mexico in Puerto Rico. 

The companies participating in the Mexico trade mission are Berrify, Provisiones Villafañe, United Global Solutions, Valero Inc., Luna Group International LLC, Marey, Montadero Chocolate, Olein Corp., CRS Law Office LLC, Ellco Group, and Fresh Export Solutions.

Also participating are Legal Project Management, Casa Bella, Conde Industry Services, Coradini Gourmet LLC, CRB Caribe LLP, Abartys Health, AC Culinary Group LLC, C2 Consulting LLC, Caribbean Condiment Group, YFG Professional Development Consulting and YCS PR.

Author Details
Author Details
This story was written by our staff based on a press release.

Leave a Comment

Your email address will not be published. Required fields are marked *