Nominations Being Accepted for State Global Trade Awards; Arkansas Exports Up

Nominations are being sought for the third-annual Arkansas Governor’s Awards for Excellence in Global Trade, which recognize the state’s best exporters.

The 2012 program is scheduled for May 23 over lunch at the Governor’s Mansion. In addition to recognizing Arkansas’ top exporting firms of various sizes, the awards are intended to focus attention on the importance of international trade to Arkansas’ economy, a message that appears to be hitting its target.

Arkansas exports are up 7 percent, according to data released Friday by the U.S. Export Assistance Center Arkansas. The state’s 2011 merchandise exports topped out at $5.6 billion, according to U.S. Census Bureau data. That represents an increase of roughly 40 percent over a five-year span and a 7 percent jump from 2010.

Francisco Sanchez, under secretary for international trade with the U.S. Commerce Department, said in a news release that Arkansas exporters continue to sell some of the "most innovative products and services" to countries across the globe. The state’s 2011 export sales increased drastically in several countries: Australia (92 percent), France (81 percent), Singapore (63 percent), Korea (35 percent) and Mexico (25 percent).

"Companies of all sizes across Arkansas are finding export opportunities, and many more have the potential to do so," said Patricia Gonzalez, director of the U.S. Export Assistance Center Arkansas, in the release.

Nominations for the awards program can be made at ArkansasExport.com or by calling Gonzalez at 501-324-5794.

Arkansas’ largest international trade partners in 2011 were:

• Canada ($1.3B)
• Mexico ($680M)
• China ($413M)
• Japan ($213M)
• South Korea ($195M)

Gonzalez said the annual growth rate of U.S. firms that export is 2 to 4 percentage points higher than non-exporting firms. The number of exporting Arkansas firms in 2008 was 1,583. Of those, roughly 1,200 were small- to medium-sized businesses with less than 500 employees.

Gonzales said these companies stand to benefit the most from engaging the international market, which represents 95 percent of the world’s customers.

"If you can do business in the U.S., one of the world’s most open and competitive markets, you’re a likely candidate for doing business overseas. We’d like to help you relaize that potential," she said.

Past Governor’s Awards winners include AmerCable of El Dorado; Cobb-Vantress, Siloam Springs; Weldon, Williams & Lick, Fort Smith; Keith Smith Co., Hot Springs; Allen Engineering, Paragould; Power Technology, Alexander; Pernod Ricard USA, Fort Smith and Keo Fish Farm, Keo.

In addition to nominations, Gonzalez said Arkansas companies are encouraged to sign up as event sponsors. Current sponsors include the Arkansas District Export Council, the Arkansas Economic Development Commission, the U.S. Export Assistance Center Arkansas, and the Arkansas World Trade Center.