Marketplace to Rhode Island The International Business Development series at the Rhode Island Export Assistance Center (RIEAC) located at the John H. Chafee Center for International Business at Bryant College is bringing the power of the global marketplace to Rhode Island. “Think globally and act locally” has taken on new meaning as interactive videoconferencing and progressive training programs are expanding and reaching new audiences, due in part to a recent grant from the Small Business Administration (SBA). Despite the large trade deficit, the United States leads the world in exports and imports and Rhode Island is ranked 21st in terms of foreign direct investment and 29th for export focus in manufacturing according to the Rhode Island Economic Policy Council. Since 1965, U.S. international trade has increased in volume and more than doubled as a percentage of GDP (gross domestic product). Since World War II, improved transportation, better communication, and a reduction in tariffs (in part through free trade agreements and relative world peace among industrialized nations) have all played important roles in developing the global marketplace. With this trend showing no sign of slowing down RI businesses are looking for new ways to increase their percentage of international sales.
Through a strong partnership with the Small Business Administration (SBA), the RIEAC has been better able to serve the RI area business community by running an ongoing series of International Business Development programs. During the past several months the Rhode Island Export Assistance Center at Bryant College ran a series of videoconference seminars that sparked local participation from RI, as well as out of state businesses. This new and innovative technology medium has brought the world closer, literally, with video seminars to such locations as Nova Scotia, France, Brazil, and India.
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One of the more popular recent videoconference seminars was titled “Big Emerging Markets-The ASEAN Region.” The Big Emerging Markets (BEM’s) are the ten markets identified by the U.S. Department of Commerce that will generate over fifty percent of the world’s economic growth over the next decade. At this program the RIEAC brought in specialists to discuss opportunities in Asia and answer questions including; a private consultant who specializes in the Southeast Asia market, the Managing Director for the World Trade Center Rhode Island, as well as the Asia Trade Representative for Massport.
Often the format consists of an exchange of ideas, questions and answers that last about 90 minutes each and are headed up by the Global Link Manager Dennis McCarthy. Dennis McCarthy spoke of the power of videoconferencing saying, “Business opportunities come from strong relationships and these videoconferences strengthen our ties with leading trade advocates in selected markets.” One business person who has attended many of the video calls is Fred Mason of Federal Products. He described the program in this way; “The best part of videoconferencing is seeing and hearing the speaker. It was possible to establish a rapport and gain confidence by meeting people in this way, you would recognize them at the airport!” Gus Marsalla from Lee’s Manufacturing who has attended several video calls remarked, “This is an invaluable tool for bringing the international world to one conference table!”
The RIEAC also has an ongoing breakfast forum series, will host World Trade Day on June 14th, consulting services, and unique access to trade information through the International Trade Data Network (www.itdn.net) as well as other services and programs.
For more information on the Rhode Island Export Assistance Center located at the John H. Chafee Center For International Business at Bryant College or any upcoming programs please call, (401) 232-6407 or visit the web site at www.rieac.org.
