NEW: RIEDC Announces Results of Trade Missions with China, Canada
Tuesday, October 01, 2013
RIEDC's trade mission program coordinates trips to foreign countries for Rhode Island companies interested in exporting.
“For our State’s businesses to grow and succeed, we need to continue to promote our products, services and industries to a global market,” Governor Lincoln D. Chafee said. “The impressive collaboration taking place among the Rhode Island Economic Development Corporation, Bryant University and our federal partners, including the Small Business Administration, is connecting Rhode Island businesses with new export opportunities that will increase economic activity here at home."
Canadian Delegation
Four companies were part of a Rhode Island trade delegation to The Canadian Defense Security and Aerospace Exhibition Atlantic 2013 (DEFSEC) conference and trade event in Halifax, Nova Scotia on September 4-6, 2013. The companies were Ametek SCP, Inc., Ferguson Perforating, Advanced Chemical Company, and Spectrum Coatings, Inc.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST“Our main objective was to meet with large defense manufacturers to begin a dialogue between our two companies. Yes, we met with some very large companies. The delegates we met with were very helpful and have said they will put us in contact with the right individuals,” said John Antonacci, Advanced Chemical Company of Warwick.
Summary of DEFSEC 2013 Trade Delegation Results:
- Dollar value of potential sales that may result within the next twelve months as a result of the companies’ participation in the trade delegation: $675,000
- Number of serious business leads generated: 18
- Number of potential Distributors, Agents, End Users (Identified/Signed): 2
- Rating of the quality of service that companies received from RIEDC (1 lowest 10 highest): 10
- Rating of the quality of service that companies received from USDOC (1 lowest 10 highest): 8.3
Chinese Delegation
Two businesses—Cooley Group and Alex and Ani—plus the Rhode Island Tourism Division, participated in a trade mission to China from April 19 to May 1, 2013. The delegations were organized by the RIEDC and the Chafee Center, with support from the U.S. Small Business Administration (U.S. SBA) and the U.S. Department of Commerce Commercial Service (USDOC).
“The Alex and Ani team traveled to three cities – Beijing, Shanghai and Hong Kong – to meet one-on-one with potential business partners and to gauge the market potential while learning more about the local culture. It was a great pleasure working with RIEDC in coordinating this trip, as there was a lot of communication, transparency, and full understanding of our company’s requirements. The company’s most important objective during the trade mission was to explore and understand the Chinese market, and this objective was met,” said Dr. Christian Kalweit, Senior Vice President of International Business Development, Alex & Ani.
Summary of China Trade Mission Results:
- Dollar value of potential sales that may result within the next twelve months as a result of the companies’ participation in the trade delegation: $2,050,000
- Number of serious business leads generated: 33
- Number of potential Distributors, Agents, End Users (Identified/Signed): 15
- Rating of the quality of service that companies received from RIEDC (1 lowest 10 highest): 8.7
- Rating of the quality of service that companies received from USDOC (1 lowest 10 highest): 7.7
RIEDC’s next trade mission will be to Israel. RIEDC is joining with the Rhode Island Department of Health, the Chafee Center, Nevel International LLC and the Israeli government to coordinate a Rhode Island Healthcare and Life Science Trade Mission to Israel on November 8-16, 2013.
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