Trade agreements with Peru, Colombia bring possible new jobs

3 years 9 months 2 weeks ago Friday, February 05 2016 Feb 5, 2016 Friday, February 05, 2016 6:27:00 PM CST February 05, 2016 in News
By: Kaitlin Rounds, KOMU 8 Reporter
loading

COLUMBIA - Trade deals between Missouri and Colombia and Peru could bring more than 6,000 jobs to the state in the next five years. 

This week, Gov. Jay Nixon visited the South American countries. He signed trade deals guaranteeing $750 million worth of exports from Missouri to Colombia and $300 million worth of exports from Missouri to Peru. 

The total of nearly a billion dollars over five years, could bring thousands of jobs to the state, according to the Missouri Department of Economic Development. 

Steve Wyatt, the vice provost for economic development at the University of Missouri, said the trade agreements are positive for Missouri.

"We are selling a specific good or service to another country. In exchange for that product, they transfer the cash from the sale back to us. The sale and the cash is ended up being spent here. That money then goes into Missouri's economy," Wyatt said. 

He said the trade agreement is particularly good for businesses that make seasonal products, since Colombia and Peru are in a different hemisphere and therefore experience seasons opposite to Missouri. 

"Some businesses are seasonal, so they sell their products in the winter or when it's warm, so geographically, selling their products in other countries can be very beneficial," Wyatt said. 

In general, Wyatt said to think of export agreements as a good idea for the United States. 

"When you think about exports, it's important for the United States to export," Wyatt said. "When you look at customers around the world, 96 percent are outside of the United States. So anytime we can sell products outside of the United States, it's an excellent opportunity for our businesses to get a diversified revenue stream." 

Amy Susan, with the Missouri Department of Economic Development, said businesses are encouraged to work with Peru and Colombia. 

"They can reach out to DED’s International Trade Office and have a search conducted to identify distributors and buyers," Susan said. "Through the relationships we’ve established, we would be able to identify buyers of grain or other commodities, including manufactured goods."

More News

Grid
List
NEW BLOOMFIELD — The New Bloomfield School District said it is thinking of moving to a four-day school week after... More >>
11 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 9:16:00 PM CST November 21, 2019 in News
COLUMBIA - Christian Fellowship School will start the giving season a bit early as it launches it's first-ever Serve-a-Thon event... More >>
12 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 8:16:00 PM CST November 21, 2019 in News
JEFFERSON CITY - Lincoln University faculty members are voicing their concerns to university officials after it raised their health care... More >>
13 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 7:07:00 PM CST November 21, 2019 in News
COLUMBIA - Another MU fraternity has been suspended just two weeks after the suspension of Sigma Chi. This time, the... More >>
15 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 5:04:00 PM CST November 21, 2019 in News
JEFFERSON CITY, Mo. (AP) — Missouri residents could soon find it easier to update their addresses for voter registration... More >>
16 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 4:31:00 PM CST November 21, 2019 in News
JEFFERSON CITY - The Missouri Department of Conservation (MDC) and the Missouri Department of Natural Resources (DNR) are asking Missourians... More >>
17 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 3:30:00 PM CST November 21, 2019 in News
JEFFERSON CITY- The Missouri Department of Health and Senior Services released its latest report on rural health on Friday, detailing... More >>
18 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 2:51:00 PM CST November 21, 2019 in News
ST. LOUIS (AP) — The 81-year-old mayor of a St. Louis suburb was charged Thursday with submitting fraudulent absentee... More >>
18 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 2:19:00 PM CST November 21, 2019 in News
JEFFERSON CITY - The Cole County SWAT team and the MUSTANG Drug Task Force conducted a drug search Tuesday, arresting... More >>
19 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 1:46:00 PM CST November 21, 2019 in News
FULTON - Deputies arrested a man Wednesday afternoon while conducting a drug search, according to Callaway County Sheriff's Office. ... More >>
19 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 1:36:00 PM CST November 21, 2019 in News
JEFFERSON CITY - Wednesday's fire at the Missouri State Penitentiary started as a result of a training burn by the... More >>
19 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 1:03:00 PM CST November 21, 2019 in News
JEFFERSON CITY - A Columbia man pleaded guilty Thursday to setting a fire at the Planned Parenthood clinic in Columbia... More >>
20 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 12:02:00 PM CST November 21, 2019 in News
JEFFERSON CITY - The first annual Dementia Caregiver Retreat is helping the loved ones of dementia patients prepare for the... More >>
1 day ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 3:24:00 AM CST November 21, 2019 in News
COLUMBIA - A scooter rental pilot program in Columbia is soon to expire. Now, the scooter company is seeking a... More >>
1 day ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 12:34:00 AM CST November 21, 2019 in News
COLUMBIA - A pedestrian was hit by a vehicle Wednesday night, according to MU Police spokeswoman Sara Diedrich. It... More >>
1 day ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 9:53:00 PM CST November 20, 2019 in News
FULTON - The only hospital in Callaway County could be in its final days of serving the community. Fulton Medical... More >>
1 day ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 9:19:00 PM CST November 20, 2019 in News
COLUMBIA - Columbia Regional Airport is one step closer to getting a new terminal. The city Airport Advisory Board... More >>
1 day ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 6:51:00 PM CST November 20, 2019 in News
COLUMBIA - In its first season of competition, the University of Missouri Esports team were crowned champions after winning the... More >>
1 day ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 6:08:00 PM CST November 20, 2019 in News
Columbia, MO
Broken Clouds 36°
9am 35°
10am 37°
11am 39°
12pm 40°