NEW GLOBAL TRADE PARTNERSHIP ANNOUNCED
Partners to Collaborate in Providing Trade Assistance
A new public/private partnership will provide international trade assistance to Vermont businesses, according to Kevin Dorn, Secretary of the Agency of Commerce and Community Development.
"The Vermont Global Trade Partnership, consisting of a broadly based group of organizations and institutions that provide international trade programs and services has been formed under the leadership of the Vermont Department of Economic Development," said Dorn. "As more and more Vermont businesses seek to expand markets, it is critical that seamless and coordinated assistance be readily available."
The partnership includes representatives from the twelve Regional Development Corporations, Vermont Chamber of Commerce, Lake Champlain Regional Chamber of Commerce, Champlain College, the U.S. Department of Commerce, and the Vermont Congressional delegation. The Vermont World Trade Office Board of Directors will serve as advisors to the partnership.
"This new model leverages the strength of a variety of international trade players," said Mike Quinn, Commissioner of the Department of Economic Development. "This partnership is in the same tradition as so many of the programs and services the department provides in areas including business expansion and recruitment, permit process assistance, workforce training and government contracting."
Dorn stated that one of the primary reasons for formalizing this new collaboration is the expectation of declining federal funding for the Vermont World Trade Office. VWTO has received approximately $900,000 in the last ten years, and funding will likely run out by January, 2005.
"We need a new and sustainable model to make sure businesses get the help they need," added Dorn. "As federal grants wind down, the governor has directed that we continue to invest state funds in support of international trade. We will do that by building capacity within the Department of Economic Development and work in a collaborative fashion with members of this partnership."