Fall 2021 International Update Newsletter

October 4, 2021
Fall 2021 International Update Newsletter

NEWS YOU CAN USE

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 .

FOLLOW US ON LINKEDIN

The ITO has a LinkedIn affiliate page. Follow here for updates on activities, resources and services for Iowa companies.


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.


UPCOMING EDUCATION EVENTS

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:

  • October 20: Global Shipping Status and Best Practices
  • November 17: Harvest Marketing Insights & China’s Commodity Appetite
  • December 15: Keys to Successful Exporting

Details and registration are available on the International Trade Calendar. For international events offered by the ITO’s partners, visit the International Education Calendar.


ITO TRADE EVENTS

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?

  • Opportunity: better understand market size, development possibilities and growth potential
  • Make connections: low-cost alternative for business (no travel and time away)
  • High-value discussions: build relationships in absence of in-person meetings
  • Differentiation: being adept at conducting international business virtually will distinguish your business
  • Initial consultation and export readiness review
  • Market research/assessment
  • Pre-matchmaking business briefing/planning
  • Customized online business appointments/matchmaking
  • Post-matchmaking review/next steps

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.


VIRTUAL MISSIONS

VIRTUAL TRADE MISSION TO MEXICO
October 18-22, 2021

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.

Details: iowaeda.com/events/mexico-virtual-trade-mission


VIRTUAL TRADE MISSION TO SINGAPORE AND VIETNAM
November 8-12, 2021

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/.


VIRTUAL TRADE MISSION TO COLOMBIA, CHILE, PERU AND BRAZIL
November 15-19, 2021

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


TRADE EXHIBITIONS

CHINA INTERNATIONAL IMPORT EXPO – SHANGHAI, CHINA
November 5-10, 2021

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.

Details: iowaeda.com/events/china-international-import-expo


EXPO AGROFUTURO – MEDELLIN, COLOMBIA
November 24-26, 2021

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.

Details: iowaeda.com/events/expo-agrofuturo-2021


EXPO MANUFACTURA – MONTERREY, MEXICO
February 15-17, 2022

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.

Details: iowaeda.com/events/expo-manufactura-2022


AGRITECHNICA – HANOVER, GERMANY
February 27-March 5, 2022

AGRITECHNICA is the world's leading trade fair and marketplace for agricultural machinery and where new products and innovations are revealed. IEDA plans to host an Iowa pavilion with the opportunity for co-exhibitors to join.

Details: iowaeda.com/events/agritechnica-2022


TRADE MISSIONS

These 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.

TRADE MISSION TO MEXICO
March 28-April 2, 2022

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.

Details: iowaeda.com/events/mexico-trade-mission-266


AGRICULTURE TRADE MISSION TO JAPAN AND KOREA
March 26-April 2, 2022

The mission will focus on the Iowa livestock, grain and meat processing industries, and affiliated Iowa agriculture associations. Targeting two countries with long-term and expansive ag trade, this business-focused trip will provide attendees with group meetings, industry development opportunities, cultural exchange and export knowledge development.

Details: iowaeda.com/events/japan-and-korea-ag-trade-mission


TRADE MISSION TO SUB-SAHARAN AFRICA
June 4-10, 2022

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


TRADE MISSION TO MALAYSIA & INDONESIA
June 20-24, 2022

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


RECENT HIGHLIGHTS

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.


IOWA TRADE TALK SERIES WEBINARS

The Trade Talk Series: Global Options for Iowa webinars featured the following events in the last quarter:

  • Fundamentals of International Distributor Agreements featuring Steve Dickinson, International Co-Chair, Cozen O’Connor, who outlined the basic legal considerations that go into negotiating, executing, performing and terminating export distributor agreements.
  • Export Opportunities in Southeast Asia with Sarath Menon, Managing Director, Orissa International Pte. Ltd., who discussed growing export opportunities in this region which is the fifth largest economy in the world.
  • Export Opportunities in Mexico and Latin America presented by Gloria Garcia, Global BMT, on the strong export opportunities for Iowa companies in Mexico, one of the closest and largest trading partners, and throughout Latin America.

Recordings of the publicly available 2020-2021 Trade Talk Series webinars can be found here.


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.


GUEST ARTICLES

PORK AND POULTRY PRODUCTION IN SOUTHEAST ASIA
Submitted by: Orissa International Pte. Ltd.

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
Submitted by: Kelly Klinefelter, Navguardian, LLC

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 just 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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