Utah business delegation to forge connections with Israel and the UAE
SALT LAKE CITY, UT (Sep. 7, 2022) — Gov. Spencer J. Cox is leading a trade mission to Israel and the United Arab Emirates (UAE) from Sept. 8 to 17, 2022, to help Utah businesses capitalize on emerging opportunities and build economic bridges.
The 2020 Abraham Accords that normalized diplomatic and trade relations between Israel, the UAE, and other countries in the Middle East and North Africa has unlocked tremendous economic opportunities in the region.
Israel and the UAE share important similarities with Utah — from their dynamic innovation ecosystems to their expertise in navigating familiar challenges, such as water management — making them excellent partners for Utah companies looking to grow in the Middle East.
The Israel/UAE trade mission is the second international trip for Gov. Cox this year. In April 2022, he led a highly-successful business delegation to Mexico, which resulted in $6.1 million in new projected manufacturing and sourcing from Mexico and $26.3 million in new trade opportunities for Utah companies.*
Following the governor-led business trip to Mexico, Romaric Corporation’s Director of Global Channels, Bernardo Ospina, shared, “There are two ways to attempt to penetrate a new market for the first time. One is expensive, very time-consuming, and high risk, and the other is to partner with the state and WTC Utah. We accomplished more in one week than we could have achieved in months of market research and business development activities. The effectiveness was five times what we could have achieved using our resources, and the cost was significantly lower.”
*New Trade Opportunities (NTO) = Actual Sales + Prospective Sales + Actual Investments resulting from trade and/or investment activity and as reported to WTC Utah by Utah companies.
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