The Wisconsin Economic Development Corporation (WEDC) is seeking companies to participate in a global trade venture to Mexico at the end of January.
Wisconsin’s exports to Mexico totaled $3 billion in 2016, making it Wisconsin’s second-largest export market. The global trade venture will include segments in Mexico’s two largest cities, Guadalajara and Mexico City. Wisconsin companies from a variety of sectors are encouraged to attend.
“Over the last two decades, Mexico has transformed from a commodities export market into a diversified manufacturing economy,” said Katy Sinnott, vice president of international business development for WEDC. “Mexico has a robust supply chain with an interdependent relationship to the U.S. manufacturing sector, and Mexico’s ties to Wisconsin are stronger than ever.”
WEDC’s trade ventures offer companies a way to make connections in markets that leads to new exports. The trips represent an excellent value since they are offered at a subsidized rate, and with logistics taken care of, participants can focus on business. This trip is suitable for companies that do not have prior export experience.
“By taking part in this global trade venture, companies can tap the existing demand for their products to forge new relationships that lead to growing export sales with new customers and sectors—and face-to-face interactions are especially key to closing deals in this market,” said Mark Rhoda-Reis, international business director for WEDC and the market development director for Mexico. “In addition to learning about market conditions and meeting local partners, the trade venture offers companies the chance to learn from one another, as the group will include both experienced exporters and companies that are new to exporting.”
Wisconsin’s top categories of exports to Mexico already include industrial and electrical machinery; scientific and medical instruments; and plastics. Categories in which Mexico imports large quantities from the U.S.—but not yet from Wisconsin specifically—pose opportunities for Wisconsin exporters. These include: vehicles; furniture; edible vegetables; articles of steel, aluminum and copper; railway and tramway parts; essential oils; paper and pulp; tools; and organic chemicals. Services in areas such as construction, engineering, manufacturing, environmental and water are in demand across Mexico. In addition, the Mexican government’s investments at the federal, state and municipal levels in developing and improving infrastructure—such as communication systems, highways, airports and water supply—create opportunities for Wisconsin companies. These infrastructure and building needs have become more acute due to destruction caused by the September 2017 earthquake.
The trade venture begins Jan. 27 with departure from the U.S. The program includes three nights in Guadalajara and three nights in Mexico City before returning to the U.S. on Feb. 2. The cost to attend for a Wisconsin exporter of goods or services is $1,800 and includes a company-specific market assessment, hotel accommodations, interpreter services, scheduled ground transportation and airfare between the two program cities, but does not include international airfare or most meals.
The registration deadline is Dec. 18. To learn more or register, please visit InWisconsin.com/mexico18.