Gov. C.L. “Butch” Otter will leave the country next week for his fourth trade mission as governor in a visit to four Asian cities.
Fifteen Idaho companies have signed up for the trip, which has scheduled stops in Hong Kong, Macau, Vietnam and Taiwan, according to a press release by the state Department of Commerce.
Otter has already visited China, Cuba and Mexico in previous missions as governor.
His administration describes the upcoming trip as an important step in the effort to grow the state’s economy from $51.5 billion to $60 billion by the time he leaves office, known as Project 60. A key part of the initiative is growth of international exports and foreign direct investment.
Other elements of Project 60 include completion of public infrastructure projects, recruitment of computer scientists and engineers to the state and development of a regional technology transfer protocol.
“The trade mission to Mexico last spring was extremely successful, and we expect to see sales from that mission top $2 million,” Otter said in the press release. “With the condition of the dollar as it is and with foreign buyers looking for bargains here in America, an important part of Project 60 is tapping those opportunities for Idaho businesses throughout Asia.”
The Department of Commerce says companies on the trip will have meetings scheduled to foster direct sales and partnerships as well as an investment meeting to connect them with potential investors.
A report released last month by the technology trade association AeA, “Cyberstates 2008: A State-by-State Overview of High-Tech International Trade,” shows that most of Idaho’s high-tech exports are now heading to East and Southeast Asia. Singapore topped the list at $1.05 billion worth in 2007, followed by China ($658 million), the Philippines ($299 million), Taiwan ($261 million) and Japan ($184 million).
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