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.
U.S. Small Business Administration
State of New Mexico
State Trade Expansion Program (STEP)
“Funded in part through a Grant with the U.S. Small Business Administration.”
The State Trade Expansion Program (STEP) is an export initiative to make matching-fund grants for states to assist “eligible small business concerns,” or ESBCs to enter and succeed in the international marketplace. Services under the STEP Program are funded in part by SBA, but are provided to eligible small business concerns – or “STEP Clients” - by STEP grant recipients located in most US states and territories.
The State of New Mexico was awarded an award of $200,000 by the U.S. Small Business Administration (SBA) to assist eligible small business concerns in New Mexico to export their products abroad. The program offers assistance with booth space, interpreters, export training programs and US Department of Commerce, Gold Key matchmaking services in major markets abroad.
About the Program
The program’s objectives are to increase the number of small businesses that are exporting, and to increase the value of exports for those small businesses that are currently exporting.
STEP services are managed and provided at the local level by the New Mexico Economic Development Department, Office of International Trade. The program is managed at the national level by the U.S. Small Business Administration’s Office of International Trade. At the state level, the New Mexico STEP Program has total Federal funding of $200,000, for use over a one-year period beginning on September 30, 2016 to September 29, 2017.
The State of New Mexico is utilizing funding under the 2016 STEP Grant to assist New Mexico companies with booth fees and assistance for all the trade show, trade mission and Gold Key service activities as listed below with the specific dates and industries covered by the event. New Mexico companies must request assistance prior to submission of a new STEP grant proposal in order to be on the list for future trade events and activities. Eligible small business concerns that did not submit a request might still be eligible for assistance with Gold Key service arrangements or trade shows subject to cancellation by companies included in the original proposal.
Eligible small business concerns from the State of New Mexico must complete and submit an SBA Certification Form and a Sales Survey which are utilized to determine eligibility for the program and to track sales.
2016 SBA STEP Grant Funding Forms
Services provided to small 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 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 Mexico and in Jerusalem, Israel for the Middle East market.
- Coordinate State Trade Expansion Program 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
New Mexico Foreign Direct Investment Recruitment Outreach to Tokyo and Osaka, Japan
Japan External Trade Organization
Tokyo - Conrad Hotel
Osaka - JETRO Business Support Center
June 8-15, 2019
Hong Kong Food Show, Hong Kong, PRC
Hong Kong Trade Convention and Exhibition Centre
Promote NM food and beverage products
August 05-10, 2019
Access Asia Trade Mission, Singapore, Indonesia
Singapore and Jakarta
Gold Key Service Matchmaking for NM companies
Promote environmental, laser-optics and high technology products
August 10-15, 2019
Access Asia Trade Mission, Taiwan
TUSA Technology Development Cooperation Meeting
Investment recruitment of Taiwan companies
Trade matchmaking prospects for NM companies participating
September 12-15, 2019
Access Latin America Trade Mission - Lima, Peru / Santiago, Chile
October 21-23, 2019 Lima, Peru
October 24-26, 2019 Santiago, Chile
Matchmaking meetings for NM companies in the two fastest growing Latin American economies