Trade mission tops Iowans’ expectations

DES MOINES – State economic development director Debi Durham said Thursday her first trade mission to China has exceeded her expectations.

Durham said she was impressed by China's robust economy and surprised by the level of openness in her discussions with officials in the Communist nation. She also said she found a high level of interest both among companies wanting to establish trading ties with Iowa or bring investments to America's heartland.

“They really do see us as a strong trading partner,” Durham told Iowa reporters during a teleconference before the 41-member delegation packed up for its return trip to Iowa.

“I was pleasantly surprised with what I saw. They see us as a very valuable trading partner. They do expect us to come back, they want to come to Iowa,” she said.

Durham said Chinese companies are especially interested in wind energy production, biochemicals and biosciences, as well as crop seed development, technology and improving the productivity of their crop production. She noted that China already ranks as Iowa's fourth-largest trade partner “and that's only going to grow in the future.”

Durham, Lt. Gov. Kim Reynolds, and Iowa Agriculture Secretary Bill Northey left on June 6 with a delegation of Iowans for stops in South Korea and China with an itinerary of Iowa receptions, meetings with trade officials and various leaders, site visits at Iowa companies with operations in China, and discussing prospects for investments or business ventures in Iowa by Chinese interests.

“We've had a great trade mission,” said Reynolds, who also was marking her first trip to the Asian nations. “I have to admit I'm ready to come home.”

“There are some real opportunities for existing companies that have great strength over here for us to build on,” Reynolds said. “They're ready to invest. They have money and they want to invest.”

Durham said she was struck by the economic activity in China, and noted the five-year plan that is closely followed by Chinese leaders points to continued boom in infrastructure upgrades, manufacturing and construction that could provide a number of opportunities for Iowa companies interested in establishing ties with China.

“I just think we all have been so impressed with their unprecedented growth and development of the infrastructure, the economy and the quality of life,” Reynolds said.

During his town hall forums in Iowa this week, Gov. Terry Branstad – who was unable to make the Asian trip due to stalled budget talks with the split-control Legislature over a state budget – stressed the need for Congress and the Obama administration to ratify a free trade agreement with South Korea soon. He told a Perry crowd that PMX, which has a location in Cedar Rapids, likely would “add a significant number of jobs” and “there's another Korean company that we're talking to that we hope to get to locate in Iowa” if the U.S.-Korea agreement goes through.