Caribbean trade mission is a success for Tampa Bay businesses

Global Tampa Bay business leaders and five local companies have concluded a successful four-day trade mission to the Dominican Republic, as announced in a news release this Friday.

The Dominican Republic ranks as Florida's fourth-largest destination for merchandise exports, following Brazil, Colombia, and Chile.

Over $15.79 Million in Sales Expected

The trade mission facilitated over 50 one-on-one matchmaking meetings between Tampa Bay and Dominican Republic businesses. This led to an expected merchandise and service sales exceeding $15.79 million in the upcoming 12 months.

“You know it is a successful mission when businesses report concrete sales and new contracts, immediately following an international trade mission,” remarked Bill Cronin, Chairman of Global Tampa Bay and CEO of Pasco County Economic Development Council.

Supporting New and Experienced Exporters

Cronin highlighted the importance of assisting both newcomer and veteran exporters, as they strengthen resilient companies vital for the regional economy. Trade missions like these are crucial for Tampa Bay-based firms interested in discovering and engaging with potential clients in foreign markets.

Effective Coordination and Support

Global Tampa Bay coordinated the mission in collaboration with Port Tampa Bay and Tampa International Airport. Participants, on average, had nine meetings each with prospective Dominican Republic clients arranged through the U.S. Commercial Service Gold Key program.

Cynthia Johnson, a board member at Global Tampa Bay and Director of Economic Development for Pinellas County, acknowledged the U.S. Commercial Service team's crucial role. She expressed gratitude to Isiah Parnell, the United States Embassy’s Charge’ d’Affaires in Santo Domingo, for supporting Global Tampa Bay's international business development objectives.

Future International Engagements

In the upcoming months, Global Tampa Bay plans to organize foreign direct investment missions to Medica in Germany and to the United Kingdom. Medica is one of the world's largest B2B medical trade fairs.

Craig Richard, the incoming chairman of Global Tampa Bay and current CEO of the Tampa Bay Economic Development Council, observed a significant uptick in international companies looking to expand into the Tampa Bay region. He noted, "we're able to leverage Florida’s global business strengths to set our region apart as a leader in both export trade and foreign direct investment."