Gov. Gary R. Herbert is leading a delegation of 27 Utah companies and organizations on a trade mission to Mexico City and Baja, California this week.
As one of the U.S.’s top trading partners, Mexico offers tremendous opportunities for Utah Companies interested in expanding their business in Latin America.
“The trade missions to Mexico City and Baja provide Utah companies an opportunity to establish meaningful connections with potential customers and partners,” said Derek B. Miller, president and CEO of World Trade Center Utah. “Participants will learn first-hand how to grow their business by expanding into the Mexico market.”
The trade mission, spanning April 9-13, includes business visits, matchmaking meetings, networking receptions and Foreign Direct Investment luncheons. Additionally, participants will visit the sites of several Utah companies that have already benefited by expanding into Mexico markets.
“The trade mission to Mexico will help us strengthen our relationship and create more opportunities for Utah companies to launch global operations or expand existing global initiatives,” said Val Hale, executive director of GOED. “Previous trade missions have had an immediate impact on a number of Utah businesses and their international growth and expansion.”
Mexico was selected as a location for a trade mission because It is the second largest export market for U.S. goods and fourth largest for Utah goods. Utah Exports approximately $850 million to Mexico each year and is a growing trade hub for the Americas.
At $1.1 trillion annual GDP, Mexico is the 15th largest economy in the world. Mexico has the world’s 11th largest population with 124.5 million people. Its economic outlook is positive as major liberalizing reforms in the energy and telecommunications sector are opening new opportunities for private investment.
The trade mission, supported by WTC Utah, GOED, U.S. Commercial Service, the U.S. Small Business Administration and Deseret Management Corporation is comprised of private and public organizations from various industries.
Businesses participating in the trade mission to Mexico City and the trade mission to Baja:
Campbell Scientific, Inc.
The Church of Jesus Christ of Latter Day Saints
Deseret Management Corporation
ICON Health & Fitness
Intermountain Farmers Association
Law Offices of Thomas N Jacobson
Owlet Baby Care, Inc.
Carbon 2 Fuel and Michael Best Strategies
Summit Medical Products, Inc.
U.S. Hispanic Chamber of Commerce-Intermountain Chapter
Utah Department of Agriculture and Food
Utah Farm Bureau Federation
Utah Manufacturers Association
Utah Office of Tourism