Birmingham Chamber of Commerce and Industry is poised to clinch a huge contract to sell its services in Latin America.
The deal, valued at about #3 million, is expected to be signed in the New Year and comes after talks in Mexico between the chamber and government officials.
This follows the signing of a Memorandum of Understanding between the Mexican Secretariat of the Economy and the organistaion.
The chamber believes the recently-formed strong links could provide a knock-on boost for the West Midlands economy as a whole.
It is poised to lobby with development agency Advantage West Midlands (AWM) to win inward investment from Mexico for the region.
Chief executive Jerry Blackett, who led the delegation, said the agreement would see the chamber help Mexican businesses benefit from its expertise in supply chain management gained over the last decade through its work in the West Midlands and nationally.
He said: "The Mexican economy is poised to grow strongly.
"Like the West Midlands, the Mexicans are having to transform themselves from a high volume low cost industrialised economy into higher value added sectors.
"Ninety per cent of Mexican exports are into the US where expectations for world leading technologies are very high.
"There is a great opportunity for know-how developed in Birmingham to be applied successfully in Mexico."
This visit was the culmination of 12 months negotiations conducted by Michael Mott, the chamber's head of business development, and Marco Romero, the organisation's Latin America adviser.
Mr Romero, a Birmingham-based Mexican who is a business and commercial development consultant, said: "The chamber has a lot to offer to Mexico in terms of best practice advice, training, and skills development."
The chamber's visit coincided with "British Mexican Week" and its delegation were the guests of the British Mexican Chamber of Commerce in Mexico City.
Supported by Karl Burrows from AWMs' inward investment team, Mr Blackett and the chamber team met ambassador Giles Paxman to secure his support for their trade proposals.
The chamber believes the strong ties with the Mexican government place the West Midlands in a strong position strongly to win new inward investment opportunities.
Mr Blackett said: "Following a number of successful overseas investments to support the best of Mexico's hi-tech businesses establishing a foothold in overseas markets, the Mexican Government is now examining the potential to help around 15 home grown businesses set up in the UK."