Fall 2021 International Update Newsletter
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IOWA RECEIVES STATE TRADE EXPANSION PROGRAM (STEP) FUNDS The IEDA’s International Trade Office (ITO) is happy to announce Iowa will receive STEP grant funding through the U.S. Small Business Administration (SBA) for the upcoming funding year. Financial assistance applications are being accepted for eligible activities taking place between September 30, 2021, and September 1, 2022. The limitation of two times maximum for the same trade show is suspended for shows taking place through June 30, 2022. For more information about the ITO’s financial assistance programs to Iowa exporters, click here . |
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FOLLOW US ON LINKEDIN The ITO has a LinkedIn affiliate page. Follow here for updates on activities, resources and services for Iowa companies. |
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DOUBLE YOUR 2022 INTERNATIONAL MARKETING BUDGET Through Food Export-Midwest, qualifying companies can take advantage of funding for a wide range of international marketing activities. The 2022 program year is now open for applications. The Branded Program provides reimbursement for advertising, promotions, web development, packaging, marketing, freight costs and trade shows, among other qualifying expenses. Double your budget with 50% cost reimbursement. The early deadline is October 31. For more info visit Food-Export Midwest. |
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UPCOMING EDUCATION EVENTS |
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IOWA TRADE TALK SERIES: GLOBAL OPTIONS FOR IOWA The ITO offers free webinars each month on a variety of topics relevant to Iowa exporters. Join us for the remaining 2021 sessions:
Details and registration are available on the International Trade Calendar. For international events offered by the ITO’s partners, visit the International Education Calendar. |
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ITO TRADE EVENTS |
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ON-DEMAND VIRTUAL MEETINGS The International Trade Office (ITO) continues to offer an on-demand virtual consultation program to develop new markets or expand existing ones for Iowa products and services. These online, no travel, low cost ($500) opportunities allow manufacturing and service exporters to build business in a new, dynamic way. Why Virtual Matchmaking for International Trade?
Complete a Virtual Matchmaking request form, and the ITO will contact you within two business days to schedule a consultation. For questions, email international@iowaeda.com. |
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VIRTUAL MISSIONS |
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VIRTUAL TRADE MISSION TO MEXICO Mexico is the second largest economy in Latin America and Iowa’s third largest export market. There will be an option to follow up with in-person meetings in March 2022. |
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VIRTUAL TRADE MISSION TO SINGAPORE AND VIETNAM Southeast Asia has emerged as one of the most interesting for export minded Iowa companies. With nearly 100 million consumers, Vietnam is a large and growing market, well-positioned for rapid economic growth in the post-pandemic era. Singapore is one of the world’s most prosperous nations, with a high per capita income and free trade agreement with the US. Details: iowaeda.com/events/singapore-and-vietnam-virtual-trade-mission/. |
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VIRTUAL TRADE MISSION TO COLOMBIA, CHILE, PERU AND BRAZIL The targeted Latin American countries of Colombia, Chile, Peru and Brazil are rapidly growing economies. Three of the markets are free trade agreement partners with the U.S., which provides opportunities for reduced barriers and increased profitability. Details: iowaeda.com/events/south-america-virtual-trade-mission |
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TRADE EXHIBITIONSCHINA INTERNATIONAL IMPORT EXPO – SHANGHAI, CHINA The China International Import Expo (CIIE) is a large trade fair held each November at the National Exhibition Center in Shanghai China. The CIIE fair has the stated purpose of promoting the Chinese domestic market to foreign companies and to boost domestic consumption. IEDA’s in-country representatives with Tractus Asia will be on-site to assist Iowa companies. |
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EXPO AGROFUTURO – MEDELLIN, COLOMBIA Expo Agrofuturo is a leading business and knowledge platform for the Agro Industry in Latin America. Exhibitor space is available for this international, in-person event and forum. IEDA will not have a space at the event, however, in-country representatives with Global BMT will be available to assist Iowa companies. |
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EXPO MANUFACTURA – MONTERREY, MEXICO For more than two decades Expo Manufactura has been the premier event for the manufacturing industry in the North Latin American region. Held annually, the trade event is regarded as the Mexico’s leading business forum and presents cutting-edge technologies and applications for a diverse range of industries. IEDA will not have a space at the event, however, in-country representatives with Global BMT will be available to assist Iowa companies. |
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TRADE MISSIONSThese in-person working trips will provide participants with market research and one-on-one meetings with pre-qualified prospects relevant to their business and selected based on their goals. Whether seeking direct export sales, locating distributors/agents, conducting market research or seeking strategic relationships, these are valuable, cost-effective trips. For each mission, STEP grants are available for the first five qualified and eligible companies to cover the participation fee, ground transportation and interpreter fees for mission appointments. IEDA will charge each participating company a nominal fee of $500 for ancillary services. |
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TRADE MISSION TO MEXICO Mexico is not only one of the nearest neighbors to the United States, but also one of its largest trading partners. Close cultural, social, and economic ties make Mexico a natural market to consider for first-time and expanding exporters. |
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TRADE MISSION TO SUB-SAHARAN AFRICA Africa is the second largest continent with high demand for consumer and capital goods. Most African economies rely on imports to satisfy the needs and requirements of the large populations. The trade mission will be based out of South Africa, but there will be an option to also travel to neighboring countries in Sub-Saharan Africa. Details: iowaeda.com/events/sub-saharan-africa-trade-mission |
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TRADE MISSION TO MALAYSIA & INDONESIA Indonesia is the largest economy in Southeast Asia, the world’s fourth most populous nation and a member of the G-20. GDP growth is projected to be around 5% through 2021 and 2022. Malaysia is an upper middle-income country, giving its consumers extra purchasing clout. Also, Malaysia is one of the most open economies with trade to GDP ratio averaging around 130%. Details: iowaeda.com/events/malaysia--indonesia-trade-mission/ |
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RECENT HIGHLIGHTS |
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IOWA SISTER STATES RECOGNIZED BY JAPAN MINISTRY OF FOREIGN AFFAIRS On August 20, 2021, the Ministry of Foreign Affairs in Tokyo announced the recipients of the Foreign Minister’s Commendations for 2021. This year, commendations are awarded to 177 individuals and 41 organizations. Iowa Sister States is one of four groups and four individuals within the Consulate General of Japan in Chicago’s jurisdiction which have been selected by the Ministry of Foreign Affairs in Tokyo for contributions to the strengthening of relations between the United States and Japan. Iowa Sister States is being recognized for their work with Yamanashi Prefecture Japan in FY 2021. Read More. |
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IOWA TRADE TALK SERIES WEBINARS The Trade Talk Series: Global Options for Iowa webinars featured the following events in the last quarter:
Recordings of the publicly available 2020-2021 Trade Talk Series webinars can be found here. |
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ITO PROFESSIONAL STAFF DEVELOPMENT The International Trade Office continually invests time in educating trade specialists to better serve Iowa exporters. One of the mechanisms is through membership in the State International Development Organizations (SIDO), a national organization dedicated to supporting state international trade agencies. SIDO’s annual Best Practices Forum held in Detroit in August afforded the opportunity for the entire team – Peggy Kerr, Brad Frisvold, Lisa Longman, Joseph Rude and Andrea Smith – to attend either in person or virtually, along with peers from 43 states and seven countries. The team also participated in multiple events and webinars recently, including the U.S. Grains Council Annual Board of Delegates Meeting, NASCO Reunion and EXIM Bank Annual Conference. |
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GUEST ARTICLESPORK AND POULTRY PRODUCTION IN SOUTHEAST ASIA Rising incomes, growing population and urbanization are some of the key factors driving the growth of livestock production and consumption, particularly of pork and poultry, in Southeast Asia. However, each market is different in terms of the key livestock it produces; for example, markets like Thailand, Indonesia and Malaysia produce more poultry than pork, while Vietnam and the Philippines produce more pork than poultry. Read more. DON'T LET COVID FIND VULNERABILITIES WITH YOUR COMPLIANCE As the Delta variant of COVID-19 continues to surge, we know our fight with the pandemic is not over. Through all of the changes in our world, US exporters have had to flex to work within the new situation they find themselves. Product and labor shortages, supply-chain issues, freight delays and added costs, and product cost increases, are only a few of the challenges set before them. With all of this change, it is now more important than ever to stay on top of operating procedures put in place to remain compliant with U.S. export regulations. Read more. |
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