Governor Dayton Departs On Trade Mission To Europe
Photo of Stortinget, the parliamentary building in Oslo, Norway. Photo Credit: Flicker user, Chris Brown.
Governor Dayton along with a delegation of 35 business executives, government officials and higher education leaders landed in Europe this morning, kicking-off their nine-day trade mission to Germany, Sweden and Norway from June 12 to 21.
The goal is to build relationships on this mission that will attract new export opportunities for Minnesota businesses and encourage companies in those countries to expand their operations in the state.
Delegates sign up for the trade mission because it offers them a unique opportunity to:
Explore new trade opportunities;
Gather market insights;
Acquire business contacts and potential partners and distributors; and
Work to attract investment to Minnesota.
The group will visit key business centers in Berlin, Dusseldorf/Cologne, Oslo and Stockholm, meet with business leaders and government officials, and participate in networking events and other activities.
Past trade missions have proved highly successful. During the governor’s last trade mission to China in June, several Minnesota companies and their Chinese partners closed deals. For example, Carlson Rezidor signed a deal for three new Radisson Hotels in Chinese cities; Nova-Tech Engineering, an agricultural robotics developer and manufacturer, closed a collaborative deal with a major poultry company.
Germany was the state’s fifth-largest export market last year and the largest in Europe, with $728 million in sales. Minnesota exports to Sweden in 2012 totaled $142 million, and Norway accounted for $46 million worth of Minnesota exports.
Companies in those countries are also looking for foreign direct investment opportunities in Minnesota, especially in the agricultural manufacturing, renewable energy and medtech sectors. Geringhoff, a Germany-based farm implement manufacturer, is investing $20 million in its first North American factory in St. Cloud. Germany’s $1.4 billion in total foreign direct investment in Minnesota ranks first among European countries.
To learn more about services to businesses interested in exporting goods and services, click here.
Recognizing that exports are an extremely important part of Minnesota’s economy, DEED also produces trade and export statistics. See the latest export report here.