Background and Relevance of the Event
Cancún, QR. On July 18th, Cancún will host the first Bilateral RGV-COIN meeting, bringing together Texan and Quintana Roo business leaders to explore business opportunities on both sides of the border.
Sergio León Cervantes, President of Empresarios por Quintana Roo, explained that despite current tariff issues affecting steel and its derivatives for the automotive industry, these meetings aim to stimulate Quintana Roo’s export potential in the Mexican Caribbean.
Although Quintana Roo lacks a manufacturing industry, it has skilled commercializers placing the production of other Mexican states in high-demand markets.
Targeted Sectors and Opportunities
The meeting aims to showcase Quintana Roo’s offerings, including agricultural and textile products as well as certain types of assembly for the Mexican Caribbean’s hotel industry, to the Texan market.
With a large Mexican community in Texas and its proximity to Tamaulipas, Nuevo León, Coahuila, and Chihuahua, there’s a significant opportunity for products like mezcal and nostalgic items such as Zote soap.
Additionally, the event seeks to attract Texan investors to Quintana Roo’s real estate offerings, ranging from fractional ownership in vacation clubs to investment opportunities in developments designed for immediate returns through short-term rentals on platforms like Airbnb.
Invitation to Mexican Entrepreneurs
Carlos Marín, President of the Valley of Texas Chamber of Commerce, stated that they are inviting Mexican entrepreneurs to invest in Texas, where wine cellars and other storage/logistics modalities can generate up to $900,000 annually.
They also offer assistance for those wishing to export their products to the RGV (Valle del Río Grande) through over 2,000 retail points across Texas, including Walmart stores.
“Now is the time to invest in Texas. We call it RGV-COIN summit because we believe that investing now in the Greater Valley is an opportunity like cryptocurrencies were in 2013, worth almost nothing then but now valued in billions; the same will happen to your investments,” added the Texan entrepreneur.
Marín considers maritime trade via Brownsville’s Port to Quintana Roo’s sole cargo port, Puerto Morelos, the best option for initiating commercial exchange with the Mexican Caribbean. This route is safer and reduces logistics costs.
Key Questions and Answers
- What is the purpose of the first Bilateral RGV-COIN meeting in Cancún? The meeting aims to bring together Texan and Quintana Roo business leaders to explore business opportunities on both sides of the border, focusing on export potential in the Mexican Caribbean.
- Which sectors are targeted for collaboration? Agricultural and textile products, certain types of assembly for the Mexican Caribbean’s hotel industry, and Quintana Roo’s real estate offerings are the main sectors targeted for collaboration.
- Why is Texas an attractive market for Quintana Roo’s products? Texas has a large Mexican community and is adjacent to states with high demand for Quintana Roo’s products, such as mezcal and nostalgic items like Zote soap.
- What assistance does the Valley of Texas Chamber of Commerce offer to Mexican entrepreneurs? The chamber offers support for exporting products to the RGV, access to over 2,000 retail points across Texas, including Walmart stores, and considers now an optimal time for investment in Texas.
- Why is maritime trade via Brownsville’s Port considered the best option for commercial exchange with the Mexican Caribbean? Maritime trade is deemed safer and more cost-effective for logistics compared to other transportation methods, connecting directly to Quintana Roo’s Puerto Morelos.
