Winter 2022 International Update Newsletter
NEWS YOU CAN USE
Iowa State University’s CIRAS (Center for Industrial Research and Service) announced the ExporTech™ 2.0 program that will start in March 2022, building upon the successful original ExporTech™ program by adding more online materials and virtual sessions, improved market research support, and updated materials. It retains key program elements, including individual coaching, peer learning and connecting subject matter experts to each company based on their needs. ExporTech™ utilizes a structured export strategy development process that works with 4 to 8 companies per cohort and develops an export plan with each company to significantly increase their level of exports, which is vetted by a panel of experts and establishes specific go-to-market activities.
CIRAS is offering a free webinar on February 9, 2022, to share more about the ExporTech™ 2.0 program and offer insights on how companies can start to select the right products and markets to increase exports. Registration and details can be found here.
GRANT OPPORTUNITIES FOR IOWA EXPORTERS
The International Trade Office’s (ITO) grant programs support eligible export expenses to Iowa small businesses. The Market Trade Assistance Program (MTAP) aids projects involving a third-party that provide services to help with international exporting, including marketing and communications, translation, website, consulting, market entry, e-commerce and more. The Export Trade Assistance Program (ETAP) helps offset expenses that come from exhibiting at or participating (including virtual) in an international trade show or Iowa Economic Development Authority (IEDA) trade mission outside of the U.S. The Domestic Trade Assistance Program (DTAP) helps offset expenses that come from exhibiting at an international trade show in the U.S. Details regarding amounts and eligible expenses can be found on the International Trade Office Financial Assistance page. If you have additional questions, please contact Lisa Longman at email@example.com.
FOLLOW US ON LINKEDIN
The ITO has a LinkedIn affiliate page.
Follow here for updates on activities, resources and services for Iowa companies.
SHARE INTERNATIONAL TRADE OFFICE VIDEO
The ITO created a short video to highlight their helpful programs and services.
View the video here and share it across your networks.
UPCOMING EDUCATION EVENTS
TRADE TALK SERIES – GLOBAL OPTIONS FOR IOWA
The ITO offers free webinars each month on a variety of topics relevant to Iowa exporters. Mark your calendars for these upcoming sessions:
- February 16: International Trade Finance
- March 23: Back on the Road
- April 20: Building Your Global Food Export Options
- May 18: Protect Your Intellectual Property Rights
- June 15: Managing Supply Chain Risks
ITO TRADE EVENTS
ON-DEMAND VIRTUAL MEETINGS
The International Trade Office continues to offer an on-demand virtual consultation program through our network of representatives in 34 markets. These meetings allow manufacturing and service exporters to build business in a new, dynamic way, developing new markets or expanding existing ones for Iowa products and services.
Expo Manufactura – Monterrey, Mexico
February 15-17, 2022
For more than two decades Expo Manufactura has been the premier event for the manufacturing industries in the Northern Latin American region. Held annually in Monterrey, Mexico, Expo Manufactura is regarded as the country’s leading business forum and presents cutting-edge technologies and applications for a diverse range of industries. The IEDA ITO will not have a space at the event, however, global in-country representatives with Global BMT are available to assist Iowa companies with logistics and support if there is interest in participating in this trade event.
These 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 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.
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 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%. The trade mission will fast-track exploration of two markets in a dynamic region.
IOWA TRADE TALK SERIES WEBINARS
The Trade Talk Series: Global Options for Iowa webinars featured the following events in the last quarter of 2021.
- Global Shipping Status & Best Practices presented by Tony Joseph, President of Joseph International Freight Service, who led a discussion on the current status of global shipping and impacts on pricing and availability, and also shared best practices for international air and ocean shipments.
- Harvest Marketing Insights & China’s Commodity Appetite featured Iowa Secretary of Agriculture Mike Naig, Iowa State University (ISU) Ag Economist Dr. Chad Hart, and ISU Associate Professor and Co-Founder of the ISU China Ag Center Dr. Wengdong Zhang. Dr. Hart explained current grain outlooks and Dr. Zhang provided a unique perspective into the current China situation and continued ag export potential.
- Keys to Successful Exporting with Tony Braida, Vice President of Global Banking Sales at Bankers Trust, who discussed key components of export readiness and planning including market development, distribution networks, product development, documentation and due diligence.
Recordings of the publicly available 2020-2021 Trade Talk Series webinars can be found here.
THE PET FOOD MARKET LANDSCAPE IN CHINA
Submitted by: Tony Wang, Iowa Representative in Southeast Asia
China’s burgeoning middle class, its rising single adult population and DINK (dual income, no kids) families, as well as its aging population have all come together to drive pet adoption in China for the past decade or so. And cats and dogs dominate the landscape (97%). As of 2020, close to 63 million people in China were taking care of over 100 million pets, supporting a $32 billion service industry for just cats and dogs. And of that $32 billion, around $17.8 billion was spent on pet food alone.
EXPORT EDUCATION: FOCUS ON HARMONIZED SYSTEM/SCHEDULE B
Submitted by: Andrea Smith, Program & Education Manager at Iowa Economic Development Authority’s Iowa International Trade Office
The Iowa Economic Development Authority’s International Trade Office (ITO) offers a wide range of international trade and export compliance education to Iowa companies through a variety of avenues. It is the go-to resource guiding companies to the right answers when it comes to international trade and exporting. A primary mechanism for that is through continuing education.