Blog by Katie G. Zarate, Director of Communications
TAB was honored to host Dr. Luz de la Mora for an intimate conversation on trade. Out of roughly $700B in trade between U.S. and Mexico, 1/3 is with Texas and 2/3 goes through Texas. So the economic importance of this relationship cannot be stated enough.
Dr. de la Mora served as Viceminister of Foreign Trade in the Ministry of Economy of Mexico and has an impressive record of public service. She presented on the benefits of trade with Mexico, such as its complex industrial base: electronics, semiconductors, minerals, pharma, and medical devices. Mexico also has a labor force that can serve as an asset for nearshoring.
Gerry Schwebel, EVP of IBC Bank, thanked Dr. de la Mora for her service and partnership over the years. Mr. Schwebel is widely regarded as an expert on trade and finance who was involved in the passage of NAFTA and USMCA.
TAB CEO Glenn Hamer asked how we promote better connectivity between the trade partners. Mr. Schwebel said is starts with dialogue. We also need strong advocacy in Washington DC to ensure funds are being allocated to the right projects. It's up to the private sector leaders to get it done.
Dr. de la Mora added that the business communities from each region need to work together to advocate for better infrastructure. It also may be more fruitful for businesses to work at the state level.
Mr. Hamer gave kudos to IBC Bank for the critical role it plays in bringing the business community together on all things trade. He also thanked incoming TAB Board Chairman, Massey Villarreal, for having the vision for TAB's Texas Mexico Trade and Investment Policy Council.
With leaders like Dr. de la Mora, and a united front by the private sector, we can expect to see even stronger trade relations.