The Jan. 22, 2020 executive order by Gov. Chris Sununu establishing the nation’s first state-level trade council widens New Hampshire’s trade doors for businesses, manufacturers, tourism and more.
Following U.S. Senate ratification of the United States-Mexico-Canada Agreement, the new trade council will leverage growth and opportunity with industry leaders experienced in North American trade. It will also serve as a clearinghouse of information for state businesses, a forum focused on accessing and understanding USMCA provision details, develop resources and training for companies exploring or expanding into markets in Canada and Mexico, and help facilitate investments by companies in those countries in the New Hampshire economy.
“The new trade council will allow us to quickly help New Hampshire exporters take full advantage of the new agreement and navigate the new rules,” said Taylor Caswell, commissioner of the Department Business and Economic Affairs, and chairman of the new state trade council. “New Hampshire has grown its export value by over $1 billion over the past four years, and we expect 2019 to be another record setting year.
“The trade council,” Caswell continued, “will bring together industries, state, provincial, and federal resources in all three countries, academia, and will reaffirm our strong trade relationships with Canada and Mexico.”
The three countries historically have been New Hampshire’s top trading partners. As of November 2019, trade with Canada is up 30 percent over 2018, while it has dipped with Mexico by 3.4 percent. The top commodities exported to both countries include aircraft and spacecraft parts, industrial and electric machinery, and medical and surgical optics, which are key economic drivers of the state’s economy.
“New Hampshire companies are more competitive than ever in the global marketplace and it is vital that we take full advantage of the new USCMA environment,” Caswell said. “International trade helps our companies diversify their customer base and create jobs, and provides new opportunities for research and partnerships in life sciences, education exchanges, and so much more in terms of economic development all over the state.”
Alberto Fierro Garza, the Consulate General of Mexico in Boston, said his agency is “very much looking forward to being part of the USMCA Trade Council in New Hampshire. It is a pioneer initiative in the field and will certainly promote closer ties and enhance trade opportunities between New Hampshire, Canada and Mexico.”
Tags: international trade, Office of International Commerce, trade council, USMCA