Global Trade Venture to East Africa
Presented by: Wisconsin Economic Development Corporation, Council of Great Lakes Governors
Location: Nairobi, Kenya, and Dar es Salaam, Tanzania Time: May 11 - May 16
The Wisconsin Economic Development Corporation (WEDC) is seeking companies to take part in a Global Trade Venture to East Africa in May.
Offered in partnership with the Council of Great Lakes Governors, the program includes stops in Nairobi, Kenya, and Dar es Salaam, Tanzania. Participants depart the U.S. on May 9 or 10 and return on May 16. A webinar with more information will be offered on February 5, and the program registration deadline is March 11.
WEDC and CGLG chose Kenya and Tanzania as a Global Trade Venture destination because these are East Africa’s two largest economies, with GDP growth rates of 5.1 percent and 7 percent in 2013, respectively. They have favorable business climates; a wide range of resource-based and manufacturing sectors that are expanding to meet the needs of a young, growing population; a strong rule of law and improving democratic traditions. With trade ties to markets in Asia and the Middle East, these countries can serve as stepping stones in a broader global strategy.
Although infrastructure in these markets is relatively well-developed compared to neighboring countries, opportunities abound to assist in further developing and fleshing out their transportation, telecommunications and power infrastructure. Agriculture, food processing and packaging and food safety—established sectors of strength for Wisconsin—are also large and growing industries in these markets.
Other sizable industries include mining, oil and gas extraction and refining equipment, and health care equipment and medical devices—in particular, innovative technologies that deliver solutions in the context of limited infrastructure. In addition, hospitality and tourism are significant drivers of both economies.
An individualized agenda of one-on-one meetings in each city will be created for each participant, pairing participants with companies whose needs or capabilities align with their own companies’ export objectives. Participants are welcome to request meetings with specific parties or to let WEDC do the research and recommend potential partners. WEDC’s international business development staff will work with interested participants to ensure that the firms’ export strategy and goals are a good fit for East African markets.
The fee for this program is $3,745, which covers market research and one-on-one appointments; pre-trip and in-country staff support; group transportation between airport and hotel in each city; country briefings and networking events; and some group meals. Wisconsin participants may be eligible for a WEDC International Market Access Grant that would cover all or part of the venture fee, and may cover some other costs as well.