Iowa Ag Connection - Reynolds to Lead Trade Mission to Argentina and Uruguay

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Reynolds to Lead Trade Mission to Argentina and Uruguay
Iowa Ag Connection - 06/28/2016

Lt. Governor Kim Reynolds announced Monday at the Administration's weekly press conference that she will lead a trade mission to Argentina and Uruguay on Oct. 1-8. The trip is aimed at expanding trade and investment opportunities for Iowa businesses and is being coordinated by the Iowa Economic Development Authority (IEDA).

Argentina is a very attractive market for U.S. exporters. With imports all but frozen over the past four years, there is now a wide variety of market segments that need to import supplies, capital goods and services in order to manufacture locally, as well as companies that seek to import sophisticated technology and equipment that is not currently available in the market. As Argentina addresses its current economic challenges, opportunities will increase and the possibilities available to U.S. exporters extend to both the public and private sectors. This is an excellent time to begin exploring the market and establishing relationships. Participants on this trade mission will be primarily visiting the Buenos Aires and Rosario areas.

Uruguay is a market-oriented economy with an open trade policy which has been experiencing steady economic growth. A combination of favorable exchange rates, higher wages, historically low unemployment, and consumer confidence in the economy has been increasing demand for imported products. After 12 years of unprecedented high growth, the economy has gradually decelerated, but growth of about 3.0 percent is still projected for 2016. Participants on this trade mission will primarily be visiting the Montevideo area.

"Trade missions like this one in South America allow Iowa companies to expand their export markets outside of the U.S. and ultimately create more jobs here at home," said Lt. Gov. Reynolds. "With a record-breaking $15.1 billion in exports in 2014, Iowa is truly prospering from international trade. It is important that we continue this positive momentum and I'm pleased to be able to lead this mission in the fall."

Iowa companies in all industry sectors are invited to participate in this trade mission. Participating Iowa companies will have one-on-one pre-qualified appointments whether they are seeking to develop or expand direct export sales, locate distributors or agents, conduct market research or have other goals. Space is limited for participation in this trade mission and the deadline for applying is Aug. 1. For more information, please contact Peggy Kerr at IEDA at 515-725-3143 or peggy.kerr@iowa.gov, or see the full itinerary here.

The IEDA's International Trade Office not only markets Iowa products and services, educates Iowa businesses on exporting and assists global companies wishing to establish or expand operations in Iowa, but also explores opportunities internationally for investment within the state.

Taxpayer dollars will not be spent on the lt. governor's travel. Their travel will be paid by private donations to the Iowa Economic Development Authority Foundation.

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