Officials planning business trade mission to Taiwan, South Korea

GOV. GINA M. Raimondo said the upcoming business trade mission is an important opportunity to increase the state's exports and create more jobs and opportunity for Rhode Islanders. / PBN FILE PHOTO/ MICHAEL SALERNO
GOV. GINA M. Raimondo said the upcoming business trade mission is an important opportunity to increase the state's exports and create more jobs and opportunity for Rhode Islanders. / PBN FILE PHOTO/ MICHAEL SALERNO

PROVIDENCE – The R.I. Commerce Corp. has announced a business trade mission to Taiwan and South Korea in August in an effort to increase the state’s exports.
“Through this mission, Commerce RI, with its partners, will help participating Rhode Island companies to gain valuable market insights into the Taiwanese and South Korean markets, make key industry contacts, solidify business strategies and advance specific projects, along with serving as a guide throughout the trip. The trip is funded through a cooperative agreement with the SBA,” according to a news release about the trip.
The trip will be held Aug. 21 to 28.

In addition to Commerce RI, the trip is being hosted by the Rhode Island district office of the U.S. Small Business Administration, the U.S. Department of Commerce, the John H. Chafee Center for International Business at Bryant University, and the Taipei Economic and Cultural Office in Boston.

Raymond Fogarty, executive director of the John H. Chafee Center for International Business at Bryant University, said the groups are encouraging Rhode Island businesses to join them on the mission.
“Trade missions are highly effective vehicles for accessing high-level officials and opening doors in foreign markets,” Fogarty said. “We have a long track record of coordinating successful trade missions with proven results. Our partnership with U.S. Commercial Service offices in foreign markets provides the on-the-ground support and matchmaking that is so beneficial to Rhode Island business looking to expand in the Korean and Taiwan markets.”
Said Gov. Gina M. Raimondo, “We need to be attracting companies to do business in Rhode Island and taking innovative approaches to stimulate our economy. We know that a large number of jobs in the state are supported by international trade. This trip is an important opportunity to increase our exports around the world and create even more jobs and opportunity for Rhode Islanders.”

Said Stefan Pryor, R.I. Secretary of Commerce, “It’s critical for the state’s economy that we expand our borders.”

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Scott Lai, director general of the Taipei Economic and Cultural Office in Boston, said Taiwan is one of Rhode Island’s major trading partners and also plays a critical role in the international supply chain of tech industries. He said it also is an “ideal gateway” to the Chinese market.

Taiwan is Rhode Island’s seventh largest global export market and second largest Asian export market.

As for Korea, exports of goods from Rhode Island to Korea grew by almost $10 million from 2013 to 2014, creating at least 50 jobs, according to information provided in the Commerce RI news release.

Rhode Island companies interested in participating in this trade mission should contact Commerce RI Director of International Trade Programs Kathy Therieau at ktherieau@commerceri.com” or (401) 278-9139.

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