BUSINESS + ECONOMY

Utah leaders back from trade mission to Europe. What was accomplished?

Jun 28, 2023, 9:40 PM

Next Thursday, Gov. Spenser Cox will deliver the 2023 State of the State Address to the Utah Legis...

Gov. Spencer J. Cox speaks the Capitol in Salt Lake City on Monday, Feb. 28, 2022. Gov. Cox and state business leaders recently returned from a trade mission to Europe. (Mengshin Lin/Deseret News)

(Mengshin Lin/Deseret News)

SALT LAKE CITY — Utah Gov. Spencer Cox and state business leaders just recently returned from a trade mission to England and France. 

“These trade missions are an interesting opportunity to highlight the best of what we have to offer in Utah,” said KSL NewsRadio’s Marty Carpenter. “And to expand our economy.”

Tiffeny Yen-Louie, the chief marketing officer for World Trade Center Utah, joined KSL NewsRadio to discuss what was accomplished with the trade mission.

“The purpose is to take Utah business leaders abroad to meet and build relationships,” Yen-Louie said. “And help businesses to find new buyers and investors and partners and new markets.”

Yen-Louie says the decision on where to travel for these trade missions is based on what can assist businesses the most.

“We look at it from a standpoint of what is going to help businesses. And where are their needs specifically,” she said.

Trade mission back after pandemic

After the pandemic, Yen-Louie says Utah leaders selected London and Paris as good places to resume international business because they are multi-billion-dollar markets.

During the trip, Utah leaders agreed to a couple of new trade pacts with the two European nations.

“Both pacts are a culmination of years of working together in partnership,” Yen-Louie said. 

With France, Yen-Louie says the state established a partnership to exchange the best practices in tourism of national parks. 

Additionally, she says this is an opportunity for France and Utah to explore collaboration in other areas. Those areas are technology innovation and healthcare.

With England, the two regions committed to increasing trade and investments with each other. Yen-Louie says 10,700 Utahns have jobs that are connected to the United Kingdom or United Kingdom subsidiaries. Furthermore, 3,800 Utah jobs are supported by exports to the UK. 

“So, they are really important trade pacts to sign,” Yen-Louie said. “And make a commitment to continue working together.”

Listen to the entire segment.

 

Inside Sources with Boyd Matheson can be heard weekdays from 1 p.m. to 3 p.m. on KSL NewsRadio. Users can find the show on the KSL NewsRadio website and app. 

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Utah leaders back from trade mission to Europe. What was accomplished?