International Trade Committee Adopts Plan to Boost Arizona’s Foreign Reach and Business Opportunities

Neil Jones

Arizona State Representative David Cook (R-Globe) announced Thursday that the House International Trade Committee had its first official meeting Monday and has adopted a new plan to increase Arizona’s standings in the world’s economy.

“The Great State of Arizona is going through a transformative process in the international arena,” said Cook. “Our economy is growing, and foreign stakeholders are looking at Arizona for opportunities, including foreign direct investment in the semiconductor industry and trade in the EV-market and innovation. Our first International Trade Committee hearing sends a message to the World that Arizona is the place for doing business.”

As reported by The Arizona Sun Times, House Speaker Ben Toma (R-Peoria) announced this committee in February and named Cook as the chairman. There are five other committee members representing both political parties.

According to the committee-approved plan, the goal is to strengthen bilateral ties with existing international partners, attract more investments into Arizona, extend Arizona’s global reach through more trade offices, and increase tourism to Arizona. The plan states that lawmakers would attempt to accomplish these goals through trade travel missions to foreign entities to collaborate with trade leaders.

Following multiple meetings with stakeholders, such as the Arizona Commerce Authority (ACA), Greater Phoenix Economic Council, and the Arizona Chamber of Commerce and Industry, the committee identified several countries to implement the plan. These countries include Canada, Brazil, the United Kingdom (UK), Romania, and Mexico.

The ACA currently runs five international trade offices, three in Mexico, including Mexico City, Chihuahua, and Guanajuato, one in Tel Aviv, Israel, and one in Frankfurt, Germany. Two additional offices will also open in Seoul, South Korea, and Taipei, Taiwan.

While the Germany office would be used to reach the UK, several other countries outlined in the plan are strong trade partners for Arizona that do not currently have a trade office. For example, as of 2021, Arizona received $2.33 billion in imports from Canada while sending $2.3 billion in exports. A Canadian trade office is planned to open in Arizona, and the plan outlined reciprocating with an Arizona office up north.

Moreover, Cook has recently put a lot of focus on Arizona’s relationship with Brazil. He led a bipartisan group there last year to great success. The country is Arizona’s largest export of fertilizers and pesticides and is overall the largest consumer market in South America. There were over $375 million in exports to Brazil in 2021, so creating a trade office there would aid in strengthening this relationship.

As for Romania, Arizona’s exports and imports are less robust than other nations. However, Cook said having an office there would be a strategic move for Arizona because of Ukraine.

“Ukraine is going to be built back over the next generation, if not longer, and they’re going to need everything from toothbrushes, to mason, to office chairs, to food,” Cook said during the meeting. “I just think that Ukraine looked like the best place geographically to locate as we could exist, that country rebuilding over the next 25-30 years, as a hub for the region.”

The committee said the relationship can still be improved even for Mexico, Arizona’s top foreign trade partner. The stakeholders found that states like Guadalajara and Monterrey are showing “significant economic growth.” The committee would also consider the three existing offices and potentially close the least performing one.

Ultimately, while the committee adopted the plan, Cook said nothing is set in stone, and it will continue to work as a group to get the best outcomes possible.

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Neil Jones is a reporter for The Arizona Sun Times and The Star News Network. Follow Neil on Twitter. Email tips to [email protected].

 

 

 

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