Two Kentucky Companies Participate in Trade Mission to Central America
BK Manufacturing, Inc., a manufacturer of injection
molding,electro-mechanical assembly, and insert molding, based in McKee,
Kentucky and Rocket Man Equipment Co., a manufacturer of backpack drink
dispensers, from Louisville were selected through the Cabinet's International
Trade Program to embark on a seven-day trade mission to Guatemala and El
Salvador as part of the U.S. Chamber of Commerce's TradeRoots program.
The trip, which took place May 22-28, was also sponsored by the U.S. Department
of Commerce.
TradeRoots is the U.S. Chamber's grassroots trade education
program dedicated to raising support and public awareness about the importance
of international trade to local communities. Kentucky was selected last
year as one of six states to participate in the program, due to its aggressive
international trade program and the potential of its small and midsize
companies to export.
The goal of the trip was to build relationships and seek
business opportunities in the region following passage of the Dominican
Republic/Central American Free Trade Agreement (DR-CAFTA) in July of 2005.
"The companies involved in this trip are among the first to
open the door for a productive future trading relationship in Guatemala and El
Salvador," said Renee Carter, executive director of TradeRoots."The
implementation of DR-CAFTA is creating enormous potential for these companies
to expand into a region where U.S. businesses already export $15 billion in
U.S. products per year."
Representatives from 13 companies from seven different states
were involved in the trade mission. In addition to a number of business
meetings with prospective customers, participants experienced cultural events
and received briefings on trade and investment opportunities from U.S. embassy
personnel as well as leaders from the American Chambers of Commerce in both
countries.
El Salvador's Vice President Ana Vilma de Escobar, a proponent
of DR-CAFTA and a partner in the U.S. Chamber's trade education efforts, also
spoke to participants during a business luncheon.
Exports have proven to be of great economic value to individual
companies, as well as the Commonwealth of Kentucky. Kentucky had a record
export year in 2005 with $14.9 billion in exports, compared to $12.99 billion
in 2004. More than 55,000 direct jobs, 44,000 indirect jobs and 59,000
induced jobs in the Commonwealth are sustained by exports to foreign
countries. The estimated impact on Kentucky's GSP was more than $9.6
billion.
The Cabinet's International Trade Division has held a series of
trade workshops across the state over the last year in conjunction with its
participation in the TradeRoots program. The Governor's Export
Kentucky program was launched in March 2005, with a luncheon in honor of
Chilean Ambassador Andres Bianchi in Lexington.
For more information about the Cabinet for Economic
Development's International Trade Program, please visit
www.thinkkentucky.com or call 800-626-2930.
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