Trade Chat: Kentucky & China -Jiangxi Province Trade and Business
Overview: Covid-19 has brought major disruptions to international trade and businesses. In addition, recent tensions between the US and China have worsened the fear of businesses worldwide that the two biggest economies are on to road to decouple. There is no better timing to connect local governments and businesses on both sides to navigate the current landscape.
Despite the harsh narrative in the media, China is gradually opening up its market to foreign businesses and investment. Hearing directly from Chinese government and business leaders will enable Kentucky businesses to better position themselves and take advantage of China’s growing market when the bilateral relationship stabilizes. The program will also inform Kentucky businesses and local economic development agencies of future investment plans from Chinese enterprises who are currently operating in the United States.
Currently, nine Chinese-owned companies operate facilities in Ky. employing about 9,000 people with another six businesses planned and 350 jobs announced. Ky.'s export industry supports more than 143,000 jobs statewide. China was Ky.'s sixth-largest export destination in 2018 behind Canada, France, the United Kingdom, Brazil, and Mexico, with a total trade amount exceeding $10 billion in goods and services.
Event Date September 15, 2020 8:00 am— 9 am EST *** PROGRAM SUBJECT TO CHANGE ***
Jiangxi Provincial Office of Foreign Affairs
Jiangxi Provincial People's Association for Friendship with Foreign Countries
Jiangxi Provincial Department of Commerce
Jiangxi Council for Promotion of International Trade
Representative of Jiangxi businesses
Shanghai Suyab Commerce and Trade Associates
Kentucky Cabinet for Economic Development
World Trade Center Kentucky
Kentucky Department of Agriculture
Representatives of Kentucky businesses (Valvoline China)
Opening remarks from Zhao Hui, Director General, Jiangxi Provincial Office of Foreign Affairs
Address from Craig McKinney, Director of International Affairs Kentucky Cabinet for Economic Development (BIO)
“International Trade Opportunities and Procedures”— Jiangxi Council for Promotion of International Trade
“Investing and Doing Business in China”—Walter Sopp, General Manager, Albemarle Corporation
Closing remarks from World Trade Center Kentucky Board Member, Parashar D. Joshi, Vice President, Supply Chain & Operations, Valvoline
2020 marks the 35th anniversary of Kentucky and Jiangxi's sister state and province relationship. We shall utilize such historic opportunity to launch a program with a focus on agricultural trade, business investment opportunities, and addressing the concerns over compliance as well as regulations by inviting business and government leaders on an interexchange forum.
Intergovernmental Exchange Program: The program aims to connect Kentucky state trade agencies, chamber of commerce as well as various associations with their counterparts of Kentucky sister provinces and cities in China. These are organized panels to feature key state officials as well as community leaders to address the subnational engagement to enlarge business collaboration channels.
ABOUT TRADE CHATS: Whether a specific topic like importing PPE, working within the EU, or mitigating risk, or an open ended talk about whatever is an issue your company is currently facing, our Trade Chat is a chance to come together with experts and industry professionals in an informal setting to get the answers you are looking for. These Chats are free for members!
*This seminar is an approved STEP Grant reimbursement. If you have not applied for the STEP (State Trade and Export Promotion), please visit the Kentucky Export Initiative website for more information: Click here to learn more about the STEP Grant.