Gov. Jim Doyle announced Friday that he will accompany a state business delegation to China in March 2004 to encourage the recent increase in trade between China and Wisconsin-based companies.
Spurred by the success of Wisconsin’s growing economic partnership with China, the delegation of Wisconsin business representatives will visit Beijing and Shanghai and offer the opportunity for many companies to tap into one of the world’s budding economies.
China is Wisconsin’s sixth-largest export market and its fastest growing one. In 2002, Wisconsin exports to China grew 12.3 percent from the previous year to $359 million. Wisconsin saw an even larger increase this year with exports swelling to $281 million through July 2003, a 31 percent increase from this time last year.
Doyle’s spokesman Dan Leistikow explained that the trip is a way to further explore the economic relationship between Wisconsin and China.
“Wisconsin buys many products from China, and it’s time that this become a two-way street and China buy more products from Wisconsin,” Leistikow said.
He indicated that Wisconsin companies would find great opportunity in China.
“China is already a major trading partner with Wisconsin and there is vast potential there to increase trade,” Leistikow added.
Many Wisconsin companies currently engaged in business partnerships in China have seen a dramatic rise in profits since China began to loosen its formerly stringent trade restrictions.
Wisconsin exports of scientific instruments have reached $104 million this year, 136 percent higher than 2002. Electrical-machinery exports rose 49 percent to $21 million. Other products Wisconsin companies export to China include medical equipment, processing machinery and plastics.
Stanley Pfrang, an international consultant with the Wisconsin Department of Commerce, said the trip is emblematic of the relationship Wisconsin companies hope to continue to cultivate with China.
In 1997 China was the No. 19 destination for Wisconsin products. Last year it rose to No. 6.
“It is a significant growing market, and we’d like to see it grow even more and have more Wisconsin companies take part,” Pfrang said.
Pfrang added that the state Department of Commerce would be opening an office in China in order to serve as a resource for Wisconsin businesses. This will expand Wisconsin’s international trade network of offices, which include locations in Canada, Mexico and Brazil.
The Metropolitan Milwaukee Association of Commerce is helping to sponsor the trip, which first extended the invitation to Doyle. The trade mission will be coordinated by the Department of Commerce and Department of Agriculture, Trade and Consumer Protection and will include meetings with U.S. Consulate and Embassy officials.
The mission follows Tommy Thompson’s 1999 visit to China and will be Doyle’s first trip out of the country since being elected last November.