Office of International Trade
The Office of International Trade was created by the legislature within the New Mexico Economic Development Department to support job creation, retention, and expansion by assisting New Mexico companies to capitalize on opportunities in the competitive global marketplace.
Success in the export market is critical for small and mid-size companies since it is estimated that 96 percent of consumers are located outside the U.S. By recent estimates companies that export pay higher salaries on average and have reported a 32 percent increase in revenue as opposed to a 19 percent decrease among those companies who only pursue the domestic market.
2014-2015 SBA STEP Grant Funding Forms
Services provided to small and mid-size businesses in New Mexico:
- Offer one-on-one business consultations designed to help companies navigate through the often complex language, cultural, and structural barriers that might impede their efforts to penetrate the international marketplace. Establish effective overseas distribution channels for their goods and services.
- Operate a network of foreign trade offices to generate qualified trade leads, locate buyers and distribution partners for companies, and support the recruitment of foreign direct investment (FDI) to New Mexico. The foreign trade offices also assist companies with any questions regarding regulatory approvals that might be needed in some countries in order to market their products successfully. The offices are located in Taipei, Taiwan for the Greater China market and in Jerusalem, Israel for the Middle East market.
- Coordinate state export promotion programs in partnership with the federal government through the US Department of Commerce Export Assistance Center office which is co-located within the offices of the New Mexico Economic Development Department. This enables us to leverage the state’s resources with those of the federal government for the benefit of New Mexico exporters.
- Conduct a series of workshops and seminars designed to create an awareness of international market opportunities and educate companies on the export process. This includes establishing overseas distribution channels; export finance and letters of credit; international shipping and logistics; global pricing strategies; cross-cultural communications; and the fundamentals of doing business in a specific country or region.
- Organize and recruit New Mexico companies to participate in international trade events such as state organized international trade missions and international trade shows designed to have companies meet and gain firsthand information from foreign consumers, distributors, and buyers about their specific market needs and also assess their competitors.
- Organize reverse trade missions designed to bring visiting foreign trade and investment delegations to New Mexico with an interest in sourcing products produced in the state or invest in New Mexico.
For more information or to schedule an international trade consult for your business, please contact Edward Herrera at 505-827-0315 or Edward.Herrera@state.nm.us