Kentucky Hosts Chinese
Trade Delegation
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Kentucky was recently chosen to be one among three U.S. states to host a delegation of Chinese lumber buyers. Officials from the Cabinet for Economic Development’s International Trade Division accompanied representatives from 10 companies traveling across the state May 16-18 to meet with Kentucky lumber producers. |
“Our goal was to match Kentucky companies with potential buyers in the Chinese market, increasing Kentucky exports,” said Mark Peachey, director of the Cabinet’s International Trade Division. “Last year Kentucky’s exports reached a record level, contributing nearly $17.23 billion to the state’s economy.”
As part of the delegation’s trip, the Cabinet for Economic Development, in conjunction with the Kentucky Forest Industries Association and Kentucky Division of Forestry, also conducted a networking reception to facilitate one-on-one meetings with Kentucky lumber producers. This year’s buyers were in the market for both hard and soft woods to supply China’s growing furniture and wood flooring markets.
With assistance through the Kentucky China Trade Center in Beijing, the group was recruited by the China Chamber of Commerce as part of a larger trade delegation across multiple industry sectors organized by China’s Vice Premier Madame Wu Yi. Madame Wu led a buying delegation to the U.S. in 2006 that purchased commodities totaling USD 16.2 billion.
The trip was seen as a positive sign that China is moving to address its long-standing trade surplus with the United States and thereby curbing criticism of the trade imbalance.
“Kentucky has pursued international trade relationships aggressively and successfully,” added Peachey. “We want the world to know that Kentucky’s products can compete anywhere. It makes sense that if the Chinese are looking to increase imports, they would look at our state.”
The Kentucky Cabinet for Economic Development currently operates international offices in China, Europe, Japan, South America and Mexico to assist in promoting direct investment to the state and to increase trade between Kentucky companies and international markets. For more information about the Division of International Trade, please visit http://www.thinkkentucky.com/kyedc/internationaltrade.aspx.
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