Posted at 9:33 AM
Created on June 14, 2013
Nestled on the banks of the Motor City’s Detroit River where approximately one mile of water separates America with Canada, the Detroit MBDA Center uses the city’s international urban flair to expand its clients’ business reach across the globe, including to South Korea and Myanmar (formerly Burma).
To facilitate exporting opportunities with our free-trade partner South Korea, the Detroit MBDA Business Center is drafting a Memorandum of Understanding (MOU) with the Korea Importers Association (KOIMA). According to KOIMA, an organization comprised of 8,000 business members, Korea imported over $600 billion worth of goods and services in 2012 and expects to import close to $1 trillion dollars of goods and services in 2013. In partnership with KOIMA, the Detroit MBDA Business Center will pursue reverse trade missions with Korean companies to showcase U.S. minority-owned firms and promote business partnerships.
Unlike the well-established market of South Korea, Myanmar is an emerging market. A country rich in natural resources, it is geographically bordered by five countries including India and China. Acknowledging the recently signed United States and Myanmar bilateral trade and investment framework agreement, the Detroit Center secured meetings with the Ministers of Commerce, Construction, and senior officials of the Myanmar Chamber of Commerce. These meetings led to a MOU with the Myanmar Minister of Commerce that will be used to inform the MBDA Business Center network of the numerous export opportunities.
MBDA Business Centers are committed to providing heightened visibility and access for minority-owned firms by partnering with corporations, industry coalitions, and government agencies throughout the world. “We recognize firsthand the importance of expanding business networks and partnering to leverage unique capabilities,” said Diane Lee, Project Director of the Detroit MBDA Business Center. “As we continue to pursue opportunities that help our clients grow their business and create jobs, we are excited to partner with KOIMA and the Myanmar Minister of Commerce.”