Kentucky China Trade Center Opens in Beijing
A new Kentucky China Trade Center opened its doors on July
3 in Beijing to assist businesses in the marketing of Kentucky products
and services in the growing China marketplace. Additionally, the center
will promote investment in Kentucky by Chinese businesses and support the
commonwealth's sister state relationship with Jiangxi Province.
The opening represents Kentucky's 5th international
office. The commonwealth operates foreign offices in Tokyo, Japan;
Brussels, Belgium; Santiago, Chile; and Guadalajara, Mexico.
"China is currently Kentucky's 10th largest trading partner,
receiving more than $400 million in exports during 2005," said Governor
Fletcher. "Kentucky's new trade office in Beijing will serve as a
tremendous resource for Kentucky businesses wanting to tap into this exploding
marketplace."
China is one of the commonwealth's fastest growing trade
partners, at a rate of 528% from 2000 to 2005, compared to 55% overall growth
in Kentucky exports for the same period. The major exports from Kentucky
to China include chemicals, primary metal, machinery, waste and scrap,
transportation equipment, and electronic products.
Kentucky's overall export growth set a record year in 2005 with
$14.9 billion in exports. The United States Census Bureau (WISER)
recently released the April 2006 year-to-date export data by state which ranks
Kentucky 9th highest on a per capita basis with $1,291 of exports per capita
for the first 4 months of 2006. Kentucky had the highest exports per capita in
our competitor state region (1st four months of 2006).
The Cabinet for Economic Development's 2005-2009 Strategic Plan
called for the establishment of a trade office in China by 2007. During
2005, Cabinet officials met with more than two dozen Kentucky companies already
doing business in China to discuss the need and expectations for the
office.
"Discussions with these companies really helped us map out our
goals for the China Office and made it clear just how significant the
opportunities were for so many more Kentucky businesses," said Secretary Gene
Strong. "The China mission led by Governor Fletcher in May 2005, for a series
of meetings with Chinese officials, the U. S. Embassy, and representatives of
other states in China, was also instrumental in paving the way to creating a
successful Kentucky operation."
After receiving and reviewing 25 proposals, the Cabinet
contracted with Larkin International Trade Associates of Arlington, VA to
operate the new center, which will be located in the Silver Tower in the
Chaoyang District of Beijing, close to the new U. S. Embassy Complex. The
office is currently staffed by principals of the Larkin firm, which will add
permanent staff members by the end of 2006.
On July 4 in Beijing, the new Kentucky China Trade Center was
recognized by Ambassador Clark Randt at the U. S. Embassy's annual Independence
Day celebration. An official opening ceremony for the trade office is
anticipated in the next six to twelve months.
To help educate Kentucky businesses on doing business with
China, Larkin International Trade Associates will assist the Cabinet's
International Trade staff in a series of workshops entitled "What You Need to
Know About Doing Business in China". A list of workshop locations and
dates are as follows:
Lexington
Date: Monday, July 17, 2006
Time: 8:00 a.m. - 1:00 p.m. ET
Location: Lexmark International, Inc., Lexmark Conference Room,
Building 082, 740 New Circle Road, Lexington, KY 40550
Northern Kentucky
Date: Tuesday, July 18, 2006
Time: 8:00 a.m. - 1:00 p.m. ET
Location: Northern Kentucky Chamber of Commerce Office, 300
Buttermilk Pike, Suite 330, Ft. Mitchell, KY 41017
Louisville
Date: Wednesday, July 19, 2006
Time: 8:00 a.m. - 1:00 p.m. ET
Location: Greenebaum, Doll & McDonald PLLC, National City
Tower 35th Floor, 101 South Fifth Street, Louisville, KY 40202
An agenda and registration form can be found at the following
link http://www.thinkkentucky.com/kyedc/pdfs/chinatradeseminars.pdf
For more information, contact the International Trade Division at (502)
564-7140 or chinatrade@ky.gov.
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