Summer 2021 International Update Newsletter
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INTERNATIONAL GRANT PROGRAMS The International Trade Office (ITO) has grant programs for eligible Iowa companies exhibiting at international trade shows (both in and outside the U.S.). The DTAP and ETAP grant programs may provide up to $4,000 to support your company. Applications must be received 45 days or more before the event. For additional information on these and other international grant programs, visit the International Financial Assistance page or contact Lisa Longman at lisa.longman@iowaeda.com. |
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GRAIN EXPORTS DOMINATE THE EARLY 2021 AG TRADE STORY The first quarter of 2021 saw staggering changes in corn and soybean exports for both Iowa and the US. Global demand for Iowa corn and soybeans was at unprecedented levels. While meat protein markets saw a bit of mixed results, total Iowa output outpaced 2020. Highlights and data from a wide range of Iowa-focused protein and grain commodity markets is available on the IEDA website. Check out the Ag Export Highlights on the International Resources page. That report provides both year-to-date and monthly trade data from WISERTrade, including projected agriculture adjusted data by state-of-origin/source of commodity for overseas trade markets, ultimately providing a more accurate picture of Iowa-sourced trade data for these commodities compared to some other trade data available. |
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DOUBLE YOUR INTERNATIONAL FOOD/AG PRODUCTS MARKETING BUDGET International sales are more important than ever to grow your business and diversify risk from the US domestic market. While the marketing support to grow international sales is essential, budgeting can be a challenge. Food Export-Midwest can boost the international portion of your marketing budget. IEDA is a member of the non-profit organization Food Export-Midwest, whose mission is to promote the export of food and agricultural products from its 13 Midwest member states. Food Export’s Branded Program recognizes marketing’s essential role and helps make it possible by reimbursing Midwest food and agricultural suppliers for 50 percent of their qualified international marketing expenses. The marketing reimbursement includes web development, advertising materials, tradeshow exhibitions, market-compliant packaging and much more. For more information on the program and the full list marketing items for reimbursement, visit Food Export-Midwest’s website or contact Brad Frisvold at brad.frisvold@iowaeda.com. |
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CONSULATE OF THE REPUBLIC OF KOSOVO/IOWA SISTER STATES The Consulate of the Republic of Kosovo and Iowa Sister States is offering the opportunity for Iowans to travel to Kosovo to promote Iowa interests. Major General Timothy Orr will lead the delegation, which will consist of Iowans with varied backgrounds. The relationship between the Republic of Kosovo and Iowa was first solidified when the Iowa National Guard and the Kosovo Security Force became partners through the National Guard Bureau’s State Partnership Program in 2011, which led to the signing of the sister-state agreement in 2013. Since that time, the Kosovo/Iowa partnership has become one of Iowa’s most active international relationships, with more than 100 engagements between activities facilitated by the Iowa National Guard, Iowa Sister States and the Kosovo Consulate. If you are interested in this opportunity, please contact Artan Duraku, Chief of Mission at the Consulate of the Republic of Kosovo at |
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FOLLOW US ON LINKEDIN Check out the International Trade Office page for updates on events, resources and services. |
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UPCOMING EDUCATION EVENTSFor international events offered by the ITO and partners, visit the International Education Calendar. |
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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 upcoming 2021 sessions:
View the ITO’s Events Calendar for more information and registration. |
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E-COMMERCE STRATEGIES FOR EXPORT SUCCESS: GO GLOBAL FROM IOWA The U.S. Commercial Service and IEDA will present this webinar for Iowa companies to learn about services to help grow their website and business – bringing it to the next level! James Bledsoe, Director of the eCommerce Innovation Lab, will discuss cross-border e-commerce strategies and website globalization. One of the services to assist companies with their global websites from the U.S. Commercial Service is a Website Globalization Review (WGR) Gap Analysis, which provides a technical and strategic assessment of a company’s e-commerce sales channel efforts. To learn more about these services and online marketplace strategies, register for the free webinar at Export.gov. |
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ITO TRADE EVENT OPPORTUNITIES |
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VIRTUAL MATCHMAKING 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. Read more. |
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VIRTUAL MISSIONS Planning for any trade event starts months before the actual event. The continuing uncertainties surrounding the COVID-19 pandemic and the U.S. Department of State Travel Advisories greatly impacts this planning. Therefore, trade events the balance of 2021 will continue in the virtual format, with plans to resume in person events and international travel in 2022. The virtual trade missions are a great opportunity for Iowa companies looking to either begin or expand exports into different international markets. |
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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 & 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 US, which provides opportunities for reduced barriers and increased profitability. Details: iowaeda.com/events/south-america-virtual-trade-mission |
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TRADE EXHIBITIONS CHINA 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 MISSIONS IEDA is excited to plan a return to in-person trade missions in 2022. The 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. 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 percent through 2021 & 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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Virtual Trade Outreach – Real World Success Even though overseas travel was not within the scope of possibility in the past year, trade and relationship development did not take a back seat. As most businesses became adjusted to virtual options, IEDA’s International Trade Office followed suit and pivoted to allow Iowa’s industries to continue to engage on international trade and market development through virtual meetings. Check out the latest in virtual missions/matchmaking and webinars. Read More. |
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GUEST ARTICLESEUROPEAN UNION UPDATES & GERMAN MARKET OUTLOOK Anke Goebel, Director of Iowa’s European Office provides updates from the European Union and on Germany’s market outlooks in electronics, food supplements and Industry 4.0 technologies. Read more. INTERNATIONAL AGENT AND DISTRIBUTOR ARRANGEMENTS Iowa exporters have many choices for market entry into other countries. These include “do it yourself” options like establishing a subsidiary to act as a sales office. They also include “partnering” options like using local sales representatives (agents), distributors, third party platforms (Amazon and its equivalents in other countries), licensing and joint ventures. Different approaches may be appropriate in different countries, based on cost, timing, availability of the “right” local partners, tax considerations and other factors. Read more. |
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