ProMexico, the Mexican agency that promotes trade and foreign investment, opened an office in Phoenix last week. This was a breakthrough in relations between Arizona and Mexico, which do $8.6 billion in trade per year, after the controversial tough-on-immigration law passed in 2010. While the short-term growth focuses on manufacturing, the two governments are also pushing for more collaboration in innovative fields like aerospace and defense. Embry-Riddle College in Arizona has partnered with colleges in Mexico to help train students there, while Boeing, Raytheon, and Honeywell all have operations right across the border. “(Phoenix) cannot achieve its goals as a city without a close political and economic association and friendship with Mexico,” said Phoenix Mayor Greg Stanton at the opening ceremony. “We are two communities with one heart.”
OECD Tax Change Impact
Monsterrat Colín, tax specialist, explains how the OECD's global corporate tax reform will impact the Nearshore.