News

WTC Arkansas to Host Veteran for Export Series

August 12, 2022 - ROGERS — The World Trade Center Arkansas’ Get Ready to Be Ready series, which is designed to help small businesses prepare for export, will return this fall with a series of webinars from Dr. Michele Pfannenstiel, a veteran, and entrepreneur who specializes in regulatory medicine. “These sessions will be vibrant, fun and most importantly, educational for all those Arkansas companies interested in tackling issues suppliers face,” said Denise Thomas, chief executive officer of WTC Arkansas. The webinars will be on Tuesdays from August to November, with workshops to follow on Thursday. Each session should be about 30-45 minutes, followed by 15-30 minutes for Q&A. All of the events will be held at 1 p.m. CST. Dr. Pfannenstiel has worked in regulatory medicine as an enterprise since leaving her post in the U.S. Army, where she worked as a veterinarian responsible for food safety for the Department of Defense, spanning from military bases to the White House. Today she is the CEO of Dirigo Food Safety in Ohio, where she lives with her family. Dr. Pfannenstiel earned her bachelor’s degree at Wellesley College and her doctorate of veterinary medicine at the University of Georgia. Dr. Pfannenstiel said she was thrilled to bring leadership coaching on supply chain issues to the diverse WTC Arkansas membership “These webinars and workshops are packed with great insight, and we look forward to supporting regional leaders and food businesses,” she said. Approved Supplier Programs Aug. 30, Webinar This webinar is going to help you determine who should be a supplier. Very often, when we make a decision to work with someone, we don’t look at the whole picture of working with them. We pick them for price or convenience. Those aren’t bad reasons…but are they the ones that are going to help you build a strong and profitable relationship that nourishes your community? Sept. 1, Workshop Now that you’ve developed your supplier list based on something more sustainable than price and convenience, let’s look at all the ways you need to go about actually approving them…AND keeping them approved. Learn how to have the hard conversations that are going to save your company money and time Foreign Supplier Verification Sept. 6, Webinar Several years ago the FDA started enforcing a rule on Foreign Supplier Verification. It’s part of the Food Safety Modernization Act (AKA FSMA). Have you been ignoring this rule? Trying to skirt in and hope Customs and Border Patrol is going to not notice your products? Let’s fix that together. This webinar will explain what the FSVP rule is (and what it isn’t) and help you understand if you need to be compliant Sept. 13, Workshop Developing a foreign supplier program is not as hard as it seems. Mostly it is a matter of good Google skills and a tolerance for paperwork. In this workshop you will learn what you need to know to either write your own FSVP and/or learn how to know if the person writing it for you is doing a good job. Having paperwork you don’t understand is arguably as bad as not having the right paperwork. Let’s fix both of those issues. Recall and Business Disruption Sept. 27, Webinar Recall…a word to strike fear into the heart of any food business. Truth is, a recall is awful, but not even close to the sum total of things that can shut down a business. How do you protect yourself? By building systems that let you know as much as you can about your supply chain, work process and how your product is treated after it leaves your possession. Avoiding risk up and down the chain is what is going to let you sleep at night. This webinar will teach you to evaluate your risks and put in appropriate measures to mitigate them. Sept. 29, Workshop Do you know what to do when disaster strikes? This workshop is going to be a tabletop exercise for your business. In the Army we have a saying…how you practice is how you perform. In this workshop we will run a simulation on a business disruption exercise and you are going to get feedback in real time about your performance. CA Prop 65 and Product Testing Nov. 1, Webinar Do you sell a product in California? Because if you do, then you have to know about Prop 65. You must THINK about what you are selling, what the ingredients are and what risk they are for action by someone who sues for a living. We will cover what the Prop 65 law is, who is at risk for it, why selling on Amazon isn’t going to give you cover. Further, even if you are compliant, or not selling in California, you need to test your food for other things that can go wrong with it. But for what? How often? Nov. 3, Workshop You’ve determined that you need a Prop 65 testing plan. Let’s figure out one together. This plan depends on a lot of factors, like your ingredients and how they are prepared. This workshop is going to help you act on the knowledge you gained in the webinar to develop a testing plan that makes sense for your company. Then I’ll teach you how to read the COAs (certificate of analysis) that you get back from the lab, and make decisions about next steps based on the information we find out. The mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The center is part of the University of Arkansas and serves as the trade promotion arm for the Arkansas Economic Development Commission. To apply for funds, contact Trish Watkins, our STEP Grant director. For more information and valuable updates, please follow the center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter. Read More

WTC Arkansas Celebrates NWA Salvadoran Consulate

August 10, 2022 - SPRINGDALE — The first Salvadoran consulate in Arkansas co-hosted a community celebration on Aug. 6, marking the event with vendors from the community, civic groups and local business leaders. The World Trade Center Arkansas was honored to open the event alongside Mercedes Argueta, the Vice Consul of the consulate, and Terri Trotter, CEO of the Jones Center. “What an honor to speak at such a wonderful event dedicated to showcasing the diverse culture of Northwest Arkansas,” said Denise Thomas, WTC Arkansas CEO. The consulate opened in June and will provide administrative services to Salvadorian nationals, according to KFSM-TV. Before the NWA location opened, the closest consulate for Salvadorans was in Dallas, Texas. The high-energy celebration drew a large crowd to the Jones Center, and featured food and entertainment. The WTC Arkansas also attended the festival to show its support for El Salvadoran businesses in the areas and to open more trade opportunities with the Latin American nation. El Salvador was among the top 30 export destinations for Arkansas products last year. In 2021, the country accounted for $33.3 million in trade, according to the Arkansas Economic Development Commission. The mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The center is part of the University of Arkansas and serves as the trade promotion arm for the Arkansas Economic Development Commission. To apply for funds, contact Trish Watkins, our STEP Grant director. For more information and valuable updates, please follow the center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter . Read More

WTC Arkansas Joins Trade Mission to Farnborough

July 25, 2022 - HAMPSHIRE, England — The World Trade Center Arkansas hopped across the pond to showcase the Natural State’s burgeoning aerospace industry at the Farnborough International Airshow as part of a trade mission led by Gov. Asa Hutchinson. The aerospace industry in Arkansas is a vital part of the state’s economy. It was Arkansas’ No. 1 export sector in 2020, accounting for $1 billion in trade — nearly 20% of the state’s total exports. The industry also employs more than 4,000 Arkansans. “This was an incredible event that linked up several vital economic partnerships between Arkansas and the international aerospace industry,” said Denise Thomas, WTC Arkansas CEO. The delegation was joined by Jorden Bearden, who handles community and corporate affairs at the NWA investment firm the Runway Group , and Paige Jernigan, director of development with Heartland Forward , a “think and do tank” focused on improving the Heartland economy. Established in the 1940s, Farnborough has been a leading exhibition for executive and government leaders to learn about industry trends and networks, according to the Arkansas Economic Development Commission (AEDC). The four-day event generates an estimated $192 billion in business deals. Major aerospace companies with Arkansas ties — Lockheed Martin, Aerojet Rocketdyne, and Dassault Falcon Jet — were among the 1,500 exhibitors and 96 countries attending the event, according to AEDC. “We are proud to say that the aerospace industry thrives in Arkansas,” said Clint O’Neal, deputy director and executive vice president of global business at AEDC. “The state’s business-friendly climate and strong workforce have contributed to making Arkansas an aerospace industry hub." Read More

Trish Watkins Promoted to Chief of Staff at WTCAR

July 18, 2022 - Trish Watkins, the longtime director of grants and finances at the World Trade Center Arkansas, has been promoted to the center’s chief of staff. “I’m looking forward to continuing the mission of WTC Arkansas, which is to grow bilateral trade and promote economic development for Arkansas,” Watkins said. Since joining WTC Arkansas in 2016, Watkins has also overseen human resources and the center’s participation in the State Trade Expansion Program Grant. Provided by the U.S. Small Business Administration, WTC Arkansas secures funding for Arkansas companies and awards it to eligible small businesses to fund export initiatives. “What I enjoy most about working for WTC Arkansas is helping Arkansas small businesses enter and expand into international markets,” Watkins said. “Being able to apply and be awarded grants that directly benefit eligible small businesses in the state is very rewarding for me.” Watkins’ efforts have helped secure more than $1 million in funding for WTC Arkansas, which is being reinvested into Arkansas businesses. Denise Thomas, chief executive officer of WTC Arkansas, has worked with Watkins for nearly a decade. “Trish has been a dedicated and invaluable asset to the World Trade Center Arkansas,” Thomas said. “Trish will excel in her new role thanks to her hard work ethic, eye for detail and dedication to help small businesses across the Natural State.” Watkins has nearly 40 years of experience working for the U of A. She has worked in the U of A Division of Agriculture Research and Extension, the Arkansas Small Business and Technology Development Center and the University Development office. She currently serves as chair of the U of A Staff Senate, a role which she has previously held for three years. Watkins was also the Division of Agriculture Employee of the Year in 2012 and U of A Employee of the Year in 2009. The mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The center is part of the University of Arkansas and serves as the trade promotion arm for the Arkansas Economic Development Commission. For more information and valuable updates, please follow the center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter. Read More

WTC Arkansas, NWA Council Host Former Ambassadors

April 29, 2022 - ROGERS — The crisis in Ukraine is bringing an end to the economic recovery anticipated after the COVID-19 pandemic abated, according to former U.S. Ambassador Frank Wisner, who served under four presidents and is now an international affairs advisor with the law firm Squire Patton Boggs. “We’re seeing disrupted energy markets … we’re seeing a breakdown in food and fertilizer markets that will put populations across the globe at risk of malnutrition … and we’re seeing disruptions in financial sectors,” said Wisner. Ambassador Wisner made the comments Tuesday, April 26, during a webinar co-hosted by the World Trade Center Arkansas and the Northwest Arkansas Council in partnership with Squire Patton Boggs. Wisner also noted the crisis in Ukraine could result in a “frozen conflict.” “One that could last literally months if not years, with huge disruptive effects on our lives, our businesses, the overall economy, and the global order,” Wisner said. The panel included dignitaries and global trade experts with Squire Patton Boggs: Rodney Slater, former U.S. Secretary of Transportation (moderator) Matthew Kirk, former U.K. ambassador, international affairs advisor, Squire Patton Boggs (panelist) Frank Wisner, former U.S. ambassador, international affairs advisor Squire Patton Boggs (panelist) Frank Samolis, partner, Squire Patton Boggs (panelist) Ludmilla Kasulke, partner, Squire Patton Boggs (panelist) Rodney Emery, principal, Squire Patton Boggs (panelist) In an effort for companies to streamline their exports with sanctions in place against Russia, Ambassador Kirk said companies who are complying with U.S. export controls need to ensure they are also complying with regulations laid out by the U.K. and the European Union. “While there is close coordination between those three countries … the way in which the sanction regimes operate is significantly different in some respects,” Kirk said. He warned that companies should be wary about assuming they are in the clear by just complying with U.S. sanction protocols. “You need to look at exactly how all three of the major sanctions regimes work, in order to be sure that you are properly compliant,” Kirk said. This was the second annual symposium held by the WTC Arkansas and Squire Patton Boggs to kick off World Trade Month focusing on global issues in trade. The mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The center is part of the University of Arkansas and serves as the trade promotion arm for the Arkansas Economic Development Commission. For more information and valuable updates, please follow the center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter. Read More

WTC Arkansas Announces New Hires

April 11, 2022 - ROGERS — The World Trade Center Arkansas is pleased to announce the hiring of three new team members to assist in growing exports from the Natural State and breaking down international barriers through free trade. “This group brings a global perspective and nearly a century’s worth of experience in several international fields: business, trade, diplomacy, art and culture,” said Denise Thomas, the Center’s CEO. “They’ve already hit the ground running and are connecting Arkansas small businesses with the tools they need to grow their global footprint. The WTC Arkansas is proud to welcome this amazing group of people.” Jana Carter — Global Trade Director and Foreign Trade Policy Advisor Jana is an accomplished senior executive and attorney with broad and successful domestic and international experience advising large corporate clients and federal agencies regarding public and government relations, reputational issues, and business development including new market entry and market exits. She has a well-established network of business and professional relationships with multiple U.S. and international markets including Europe, Asia, Africa, and Latin America. Before joining World Trade Center Arkansas, Jana was a consulting general counsel and external relations advisor for a start-up headquartered in Los Angeles, California. Ed Mabry — Global Trade Director for Aerospace, Agriculture and Forestry Ed brings over 40 years of experience in global business development. Raised around agriculture, Ed applied that knowledge to help John Deere expand its agricultural presence worldwide. He served as an expat advancing the business in China, India, and Turkey. After his work with John Deere, Ed served as a development director for Independence County, Arkansas. Ed is interested in aerospace and established aviation schools in Turkey and was instrumental in setting up an aerospace business incubator for Arkansas. Before joining World Trade Center Arkansas, Ed worked for the University of Arkansas Cooperative Extension Service. Lisa Parmeter — Global Project Manager Lisa Parmeter has vast experience across a variety of businesses with a focus on operations and human resources. She is an entrepreneur, establishing Call Sign, a coffee roasting e-commerce company that provides financial and in-kind support to a range of nonprofits that support veterans and military families. An accomplished artist with artwork in two museums, Lisa also runs an art and design business through both print and on-line platforms. The mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The center is part of the University of Arkansas and serves as the trade promotion arm for the Arkansas Economic Development Commission. For more information and valuable updates, please follow the center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter. Read More

OWIT Re-Launches Chapter in Arkansas

March 17, 2022 - ROGERS — The Arkansas chapter of the Organization of Women in International Trade (OWIT) relaunched last week with a special program from Angela Marshall Hofman and Nicole Bivens Collinson, two trade advisors with Sandler, Travis & Rosenberg, P.A. an international trade firm. Navigating 2022 will bring unique challenges, Hofman and Bivens said, as President Biden’s priorities will need to overcome hurdles like countering China and growing trade with a focus on sustainability and ethical sourcing. “Angela and Nicole provided a wide-ranging, deep-dive into the issues the world faces as it moves on from the COVID-19 pandemic,” said Denise Thomas, CEO at the World Trade Center Arkansas. “Our audience is better informed thanks to their presentation about what to expect in the coming year.” Trade leaders will continue to try and tackle supply chain issues as well, with the U.S. Department of Transportation opening a $450 million grant to support the movement of goods to, through, and around ports. There are also plans for the Biden administration to host a summit devoted to global supply chain resilience in an effort to address bottlenecks while tackling long-term solutions. Established in 1989, the Organization of Women In International Trade (OWIT) is a global association for women working in international trade and business. The association boasts more than 2,000 members that share an annual economic impact of hundreds of millions of dollars in trade and business transactions. OWIT Arkansas is in a unique position to serve as a launching pad for women who want exposure and premier access to international trade. As partners with the World Trade Center Arkansas and the University of Arkansas. The mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The center is part of the University of Arkansas and serves as the trade promotion arm for the Arkansas Economic Development Commission. For more information and valuable updates, please follow the center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter . Read More

WTCAR Hosts Arkansas-India Virtual Business Summit

March 7, 2022 - ROGERS — India is working with several chambers of commerce in the southern United States, including Arkansas, to highlight immense opportunities for investment, according to the Aseem R. Mahajan, who leads India’s consulate in Houston. On Feb. 22, Mahajan joined state and local business leaders from Walmart, the governor’s office, the Arkansas Department of Commerce and Arvest Bank for the Arkansas-India Virtual Business Summit, which was organized by the World Trade Center Arkansas. “Trade between India and Arkansas continues to grow,” Mahajan said. “We have a diverse mix of goods, including engineering goods, agricultural products, textiles (and) other food processing products, pharmaceuticals, electrical equipment and farm equipment. India was among Arkansas’ top 20 trade partners, accounting for $42 million in exports, according to U.S. trade data. Moreover, Arkansas was among India’s top 10 customers, tallying $204 million in imports that same year. Walmart also has a strong history with India, dating back to when the company began sourcing from Indian companies in the 1990s, said Scott Gutche, Walmart’s senior director of U.S. manufacturing and sourcing. The Bentonville-based retailer has continued to invest in India, making it a “key growth country,” Gutche said. “What’s good for Arkansas can be good for India,” said Arthur Emmanuel, a retired Walmart advisor. “I’m convinced India can provide quality products at competitive prices and can become a global player by investing in manufacturing facilities in Arkansas.” Denise Thomas, the Center’s CEO served as moderator. She also noted that World Trade Center Arkansas is here to help companies reach the global market. “We’re here to help you identify opportunities to export those products from Arkansas,” she said. “And once you’re ready, we will help you look for other potential buyers for your product.” The mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The center is part of the University of Arkansas and serves as the trade promotion arm for the Arkansas Economic Development Commission. For more information and valuable updates, please follow the center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter . Read More

“Critical juncture”: China in the Heartland

February 14, 2022 - ROGERS — World Trade Center Arkansas CEO Denise Thomas joined national business executives and trade experts from the United States Heartland Challenge Association’s in January for a seminar on why China matters to the future success of Heartland states.. The USCHA hosted the event in an effort to allow the Heartland states to showcase their relationship with China economically, educationally and culturally. The Heartland includes much of the Midwest and the central southern states. China is one of Arkansas’ largest trade partners, and the nation consistently ranks among the state’s top five partners going back to 2017. In 2020, Arkansas exported $900 million in goods to China. Moreover, Arkansas exports to China supported more than 5,000 jobs in 2019, while foreign direct investment from China has totaled $125 million since 1990, according to data compiled by USHCA. “Arkansas’ top employers, such as Walmart and Tyson, count China as their major markets,” according to a report from USCHA. “Arkansas exports to China continue to expand, with new crops such as rice added in 2021.” The USCHA describes Arkansas as having a “healthy, two-way business ties with China” that is enriched culturally by a dual degree program between the University of Arkansas and Soochow University. Finding a positive way to do business in China will be vital for Arkansas to be competitive in this new decade, Thomas said. “Trading with China is crucial to building our state and national economy. We can’t not do business with them,” Thomas said. “But we need to find more creative ways for what we do and do it better.” Bob Holden, USCHA’s chairman and CEO, added that the U.S. and China could find “hope and optimism” by forging a strong and productive bond. “Events like this allow us to identify areas of mutual interest where we can collaborate while also respecting our differences,” Holden said. “At this critical juncture in US-Chinese relations, the need to build bridges and not barriers is greater than ever. It is in this spirit that the US Heartland China Association intends to play a leadership role in forging and nurturing bridges to the future.” The mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The center is part of the University of Arkansas and serves as the trade promotion arm for the Arkansas Economic Development Commission. To apply for funds, contact Trish Watkins , our STEP Grant director. For more information and valuable updates, please follow the center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter . Read More

2021 Governor’s Awards Highlight WTCAR Clients

October 19, 2021 - LITTLE ROCK — Five of the six recipients of the 2021 Governor’s Award for Excellence in Global Trade are World Trade Center Arkansas clients, according to a news release from the Arkansas District Export Council . Arkansas DEC’s award traditionally recognizes the exporting excellence and successes among Arkansas’ small, medium, and large enterprises. Winners of the award are Arkansas manufacturing or agriculture companies actively selling in international markets, according to the release . “Without the STEP grant, companies would have been unable to attend trade shows,” said Tris Watkins, WTCAR’s STEP grant director . “Their attendance at these shows translated to sales.” The WTCAR clients honored include: Alliance Rubber, Hot Springs (category: medium company) Alliance Rubber Company has been manufacturing some of the world’s best banding products at their manufacturing facility in Hot Springs, Arkansas since 1923. Their products are designed to be used in industrial, office, medical and agricultural applications and they sell in over 55 different countries. ECOJOHN, North Little Rock (category: small company) ECOJOHN is a manufacturing company that specializes in offering waste management solutions for off-grid, remote, and mobile applications. Their products include efficient waterless incinerating toilets and wastewater incinerators that eliminate the need for a septic tank or dumping black water tanks. Leather Brothers Inc, Conway (category: rising star) Leather Brothers are third generation leather workers who supply their products, bearing the OmniPet® brand name, to an ever-growing network of dealers and distributors worldwide. Lycus Ltd., El Dorado (category: resilience in manufacturing) Lycus Ltd. is the only domestic manufacturer of certain UV absorbers currently used on the market today. This Arkansas chemical plant is a wholesaler and contract manufacturer serving the world’s leading chemical companies with their ultraviolet (UV) light absorbers for use in plastics, coatings, and personal care applications. Chandler Equipment Inc., Springdale (category: innovation and impact in manufacturing) Manufacturer of truck accessories to a variety of customer groups in the agriculture, food, oil and gas, and transportation industries. The Chandler family operates within 5 specific companies that have grown into manufacturing accessories and supplies for the energy industry and providing liquid transportation parts all over the world. The companies this year were selected on a more challenging basis than years past. In 2021, we are recognizing exporters who through the innovative and thoughtful development of the export market were able to successfully overcome the economic impacts of the 2020 pandemic and retain at least 95% of their workforce, according to the release. Arkansas DEC is a non-profit organization composed of experienced exporters and businesspeople who regularly provide support services to exporting companies, one of over 60 DECs that exist throughout the country to support the U.S. Government’s export promotion efforts. The mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The center is part of the University of Arkansas and serves as the trade promotion arm for the Arkansas Economic Development Commission. To apply for funds, contact Trish Watkins , our STEP Grant director. For more information and valuable updates, please follow the center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter . Read More

Rogers aerospace manufacturer celebrates expansion

September 20, 2021 - ROGERS — Mundo-Tech, an aerospace manufacturing company in Rogers, celebrated the expansion of its facility, which now includes 12,000 square feet of new office and production space. The company, a World Trade Center Arkansas client, is an award-winning manufacturer of fabricated tube assembles for aerospace, defense, and commercial markets. Mundo-Tech is also a supplier for Lockheed Martin, making components for its F-35 Lighting II fighter jet. Mundo Harbaugh, president and CEO of Mundo-Tech, told KNWA that the company’s partnership with Lockheed Martin has helped it grow. “ The F-35 Lightning 2 is probably one of our most exciting programs we’re working with. We’ve been working with Lockheed for five years now and it continues to increase our growth.” Over the past three years, the Center has helped Mundo-Tech acquire STEP funds to assist them with attending trade shows. More recently, the Center has been helping them take advantage of other services like marketing media. The Center secures funding for Arkansas companies through the State Trade Expansion Program (STEP) Grant provided by the United States Small Business Administration . We then award it to eligible Arkansas small businesses to fund export initiatives such as trade shows and exhibitions, inbound and outbound trade missions, consulting, website translations, marketing media, and other export initiatives. The STEP grant program has helped thousands of small businesses obtain grants and find customers in the international marketplace since 2011. For more information on applying for funds, contact Trish Watkins , our STEP Grant director. The mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The center is part of the University of Arkansas and serves as the trade promotion arm for the Arkansas Economic Development Commission. For more information and valuable updates, please follow the center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter . Read More

Panamanian Delegation Visits WTCAR

July 28, 2021 - ROGERS — Panama, which currently handles 5% of global shipping, is primed to be “part of the solution” for cheaply and efficiently shipping products to and from the United States, according to Melvin Torres, director of Western Hemisphere trade at the World Trade Center Arkansas. “Imagine products getting to your local Walmart from Latin America at low prices in three or four days versus over 45 days from China at the same price or maybe even higher,” Torres said. Torres hosted a delegation of Panamanian officials earlier this month at the Center for a in-bound trade mission. The Panamanians met with several Arkansas business executives from Tyson Foods, Walmart, and J.B. Hunt. Panama has become the “crossroads of global shipping” largely due to its proximity to major international ports. But the country has also invested heavily in shipping infrastructure. Those investments have helped Panamanian ports reach rankings of No. 1 and No. 3 for container throughput in Latin America and the Caribbean, according to a 2020 report from the Economic Commission of Latin America and the Caribbean. Moreover, Panama has port terminals on the Atlantic and Pacific coasts that access over 1,700 maritime destinations. “Infrastructure, trained labor force, and low costs can be matched if not beaten by Latin American countries compared with China,” Torres said. “Panama can be part of the solution to move products to and from Latin America.” Beyond international shipping, however, Panama also offers opportunities for nearshoring. Citing increased labor costs in China, Torres said Panama can be a “catalyst for moving items to and from Latin America to and from the U.S.” The mission of the World Trade Center Arkansas is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services. The center is part of the University of Arkansas and serves as the trade promotion arm for the Arkansas Economic Development Commission. For more information and valuable updates, please follow the center on Facebook and Twitter or subscribe to the World Trade Center Arkansas newsletter. Read More