June 2008 - Global View Newsletter
TRADE WITH SOUTH AMERICA: PERUVIAN CONSUL GENERAL VISITS SALT LAKE, USTC HOSTS
U.S. Translation Company President, David Utrilla hosted the Consul General to Peru, Guido Loayza visit to Salt Lake.
Utah has a very connected Governor with a passion to increase trade relations internationally. One of the elements of his 10-point plan as governor is as follows:
"As Governor of Utah, I will bring to bear my national and international experience in business and trade relations to open up global markets for Utah businesses. My efforts to strengthen Utah's presence in the international trading community will be focused on the following key areas:
1. Leverage my international experience with relationships to benefit Utah
2. Build connections with overseas offices to facilitate growth within key international regions
3. Appoint a world-class advisory board for international trade"
Currently, the Governor's Office of Economic Development has established 24 Honorary Consuls for the State of Utah; which is the 3rd largest Honorary Consul Group in the Nation.
Utah has been referred to as the "Crossroads of the West." This makes it a natural hub for the nation's distribution industry.
Utah has a very diverse population with over 2200 Peruvian immigrants. The economic base and stability for Small and Medium Business Enterprises (SME) are also very dependent on strong import/export relations from international partners.
With the passing of the U.S. Peru Trade Promotion Agreement, many Utah and Peruvian agricultural producers and exporters can benefit greatly if properly guided. Additionally, many of the SME's in Utah, particularly in the manufacturing industry, rely heavily on exports to sustain positive growth and stability.
Minister Loayza met with top Utah officials from World Trade Center Utah, Governors Office of Economic Development, U.S. Commercial Service, Small Business Administration, Utah Council for Citizen Diplomacy, Chambers of Commerce from Salt Lake, Ogden-Weber, Salt Lake Latin American and the Hispanic Chamber of Commerce.
The goal of this meeting was to educate Utah's most influential sectors on Peru's needs and products to stimulate further international trade and economic growth of our state.
Utah exports to Peru include machinery, processed foods, fabricated metal products, computers and electronic products, and printing and related products. According to the U.S. Department of Commerce, the U.S.-Peru Trade Promotion Agreement exports to Peru by Utah businesses in these key industries are expected to rise by between 29% and 52%.
Minister Loayza discussed Peru's needs and specified that they are in great need of highly technical product, medical devices and construction machinery. He also said that although there remains great poverty in Peru, that in the modernized cities such as Lima, the expendable income is increasing.
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