Maryland Commerce Launches New International Trade Initiative
The Maryland Department of Commerce has launched a new international initiative aimed at boosting exporting by Maryland companies.
The Maryland Partners in International Trade program, or MAPIT, will bring together key partners from local, state and federal government and academia to raise awareness of existing export promotion programs, facilitate greater access and usage of the state’s ExportMD grant and FlexEx programs, and build new collaborative globally-focused programs.
“Last year, Maryland had record exports totaling $12.2 billion and this new program will only help to grow the state’s international footprint,” said Governor Larry Hogan. “This means more jobs and more opportunities for Marylanders and Maryland businesses.”
“As our economy becomes more competitive, it is critical to connect our businesses with every opportunity to engage in global trade,” said Commerce Secretary Mike Gill. “Between the programs offered at the local, state and federal level, as well as those offered by key stakeholders, Maryland has a wealth of international trade resources. This program will bring all those resources together and help ease of process for businesses who want to market products and services overseas.”
As part of the initiative, Maryland Commerce will provide training on existing export promotion programs to county economic development agencies and strategic partners, assist with developing marketing campaigns and host at least one export resource seminar in each county to connect with potential exporters. The initiative also seeks to link Maryland companies with export opportunities they may not be aware of and work to increase participation in overseas trade shows.
Among the initial partners in this initiative is the Center for International Business Education and Research (CIBER) at the Robert H. Smith School of Business at the University of Maryland College Park, which will offer Maryland companies access to research, student talent and executive training to help them succeed in the global marketplace. Through the Smith School MBA Global Consulting Practicum, Maryland exporters can work with a team of the school’s MBA students to discuss challenges their company is facing in international business. The businesses will receive customized consulting assistance, and the students will have an opportunity to apply the skills and knowledge learned in the classroom to real world challenges.
“One of the main goals of CIBER is to promote the capacity of U.S. businesses to succeed in the global marketplace. For us at the Smith School, this means Maryland businesses,” said Managing Director of CIBER at the Smith School Rebecca Bellinger. “This partnership with Maryland Commerce will not only benefit the students and companies that will work together, but ultimately the Maryland economy as well. Our student talent is prepared to support local businesses with their plans to expand in international markets and ready to make an impact.”