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Tennessee Economic Chief Visiting China
2006-09-20
NASHVILLE, Tenn. -- Tennessee Department of Economic and Community Development Commissioner Matthew Kisber is in Hong Kong and Beijing to participate in a trade show and meetings aimed at building economic ties between Tennessee and China, state officials said Wednesday.Kisber is representing the state at the American Real Estate and Services Show in Hong Kong this month. He'll also be meeting with business and government leaders about ways to increase trade between the state and one of the world's fastest growing economies. The state's announcement comes as high-level U.S. and Chinese leaders on Wednesday announced efforts to repair the countries' relations, which have soured as China's trade surplus has increased and critics in Washington accuse Beijing of keeping its currency undervalued to make Chinese exports cheaper. Washington also wants China's help in restarting suspended world trade talks. Tennessee companies last year exported more than $19 billion in goods and services to customers in other countries. Business with China accounted for 7.4 percent of that total, ranking third among Tennessee's trading partners behind Canada and Mexico. Gov. Phil Bredesen said he's asked Kisber to help expand that market even more for Tennessee companies and to mimic efforts the state has made in growing its trade relationship with Japan. Japanese companies such as Nissan Motor Co., Bridgestone Corp., DENSO Corp. and Toshiba Corp. have had a presence in Tennessee for decades, making them the largest international business group in the state with more than 40,000 employees. Tennessee businesses in Japan, however, don't come close to matching the impact of 160 Japanese-owned operations in the Volunteer State, and state and local officials have tried to change that by focusing on how and why companies are entering Japanese markets. "We've seen the fruits of Tennessee's effort to grow its trade relationship with Japan over the past two decades. The potential for our China trade relationship is just as great," Bredesen said. The governor earlier this year joined the city of Memphis in hosting a visit from Chinese Vice Premier Wu Yi and also met with Chinese Ambassador to the U.S. Zheng Zeguang in 2006. Chinese customers purchased more than $1 billion in Tennessee goods and services last year, up from less than $200 million five years ago, Kisber said. "Our state's trade with China has shown a remarkable upward trajectory and Governor Bredesen believes the groundwork we're laying now will result in more jobs for Tennesseans in the future," he said. Transportation equipment, computer and electronic parts and chemicals are the three largest export categories for the state, ECD officials said. Tennessee will have a booth at the American Real Estate and Services Show and Kisber will be hosting a reception for conference attendees. He will also meet with students participating in a University of Tennessee Executive MBA program visiting China and a number of U.S. consular officials.
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