Gov. Rick Snyder in Beijing today — as part of his fifth trade mission to China — joined the Chinese Ministry of Commerce Deputy Minister Zhang Xiangchen in a pledge to expand economic activity between Michigan and China to boost trade and investment and therefore create more jobs.
“Today’s memorandum of understanding is an important accomplishment and we will see its value in coming years,” Snyder says. “We can take pride in our state’s legacy as one of the first in the nation to formalize relations with China. We build upon that with today’s agreement and mutual commitment to continue our friendship and further promote the economic and cultural development of the state of Michigan and these regions of China.”
Snyder and Xiangchen presided over the signing of a memorandum of understanding between Michigan and representatives of four of China’s provinces and one of its major cities, including Guangdong, Sichuan, Hubei, and Zhejiang, along with the city of Chongqing.
Michigan is one of five states and cities to have reached an agreement with five industrial regions of China. Snyder says the agreement enables the areas to carry out exchanges in agriculture, science, technology, and education, among other fields.
Snyder also met with several automotive organizations including the Chinese Association of Automotive Manufacturers and China Council for the Promotion of International Trade Auto Committee. The events were part of Snyder’s eight-day investment mission to China, where he’s promoting tourism and business investment opportunities in Michigan.
IN RELATED ECONOMIC NEWS, Automation Alley, a Troy-based technology business association, today announced the total amount of export sales made by local companies as a result of participation in the association’s trade missions is now more than $507 million.
“Our goal is to demystify the exporting process for small and medium-sized companies,” says Noel Nevshehir, director of international business services at Automation Alley. “We’ve experienced great success in that area to date, and we expect similar success in the years to come.”
Nevshehir says as a result of the export sales, more than 2,800 American jobs have been created or supported. The association has led 24 trade missions to Latin America, Europe, the Middle East, and Asia. Representatives from 170 local companies have participated in the missions.