Friday, March 23, 2012 2:43:08 PM
FOR IMMEDIATE RELEASE:
Friday, March 23, 2012
Montana Department of Commerce
Montana Department of Commerce Opens New Trade Offices in Asia
(HELENA) – The Montana Department of Commerce today announced the opening of three new international Montana-Asia trade offices in Taipei, Taiwan, Hong Kong, China and Seoul, Republic of Korea.
The new operations are part of a move to expand trade and tourism in valuable markets across Asia.
Korea, China and Taiwan are among Montana’s top five trading partners along with Canada and Mexico. The new “virtual” offices will replace the recently closed Taiwan office at a cost savings of approximately $155,000 a year.
“This improvement will ensure the state is up to speed in the rapidly changing global marketplace – for significantly less taxpayer money,” said Governor Brian Schweitzer. “A presence in these marketplaces will grow the demand for Montana products, Montana business and raise our profile as a power player in international trade and tourism.”
Montana’s export reached an all time record high in 2011. Montana companies sold a historic $1.6 billion in manufactured products internationally, a 13.4% increase over the state’s last record set in 2008. Montana sold over $413 million in manufactured exports to Korea and China alone.
“We are excited about the new possibilities for business expansion across Asia,” said Dore Schwinden, Director of the Montana Department of Commerce. “In 1988, my father, Governor Ted Schwinden opened the first trade office in Taiwan. Since then, Montana trade has thrived. I look forward to expanding our opportunities in these already successful markets.”
By contracting with virtual office companies, the new virtual offices will allow Montana to establish a business presence with a physical address, on site staff and translated communication by phone and email. The offices will create a full service professional environment and reduce the costs of operating a traditional office abroad.