VIDEO: Governor Snyder Begins Trade Mission to Asia

By Mike Brownfield | September 04, 2013

 

Governor Rick Snyder is traveling to Asia today to begin a 10-day trade mission trip to China and Japan to strengthen Michigan’s trade relationships, attract new job-creating business investments and to show that Michigan, in particularly Detroit, is open for business.

“This is an important trip and builds on trips of the past,” Governor Snyder said in a video message prior to his departure. “We continue to build strong relationships with our Asian partners.”

Governor Snyder explained that 20 companies will be accompanying him on the trip and that the mission will seek to promote Pure Michigan tourism and find opportunities to export Michigan products and increase the state's value-added processing industries.

Michigan's economy already benefits from a strong relationship with Asia, as these facts show:

  • Michigan companies exported nearly $3.3 billion in goods and materials to China in 2012, up 22 percent from $2.7 billion in 2011.
  • Transportation and auto-related equipment was the largest export item, at more than $1.6 billion in 2012.
  • Chinese foreign direct investment in Michigan reached the $1 billion mark in 2012, and Michigan is one of the top 10 states for direct investment from China. At least 100 Chinese companies have established a significant presence in Michigan.
  • Agriculture exports from Michigan generate nearly $2.8 billion in economic activity, and both China and Japan are part of Michigan's top five export markets.

Governor Snyder says this trip is all about expanding that trade, opening doors to new markets for Michigan businesses, and attracting job-creating business investments.

"I'm looking for to this trip," Governor Snyder said. "We're gonna be really busy, but that's how we're going to continue to bring more and better jobs to Michigan."