As the U.S.’ neighbors in North America, Canada and Mexico are the logical first steps for Wisconsin companies that are new to exporting. The countries share geographic proximity, cultural ties and a long history of doing business together, the North American Free Trade Agreement means little to no duties are applied to Wisconsin’s exports into these countries. Customers in these markets have a high level of trust of U.S. made products, and then high volume of trading among these countries means potential local partners in these markets are likely to be well versed in handling logistical and regulatory issues that may arise. Scroll down for more information about these markets.
Canada and the United States share the world’s longest border—$1.9 billion of goods and services cross it each day. Canada is Wisconsin’s #1 export market, with the total Canada-Wisconsin bilateral trade valued at approximately $12 billion, and with a trade surplus for Wisconsin. Canada’s assets also include stable economic performance, a mature and sophisticated market and a solid integrated supply chain.
Mexico was the destination for $240 billion in U.S. exports in 2014, and is the #2 destination for exports from Wisconsin. The cost of doing business is low, and reforms in the energy and communications laws have opened up these sectors. Mexico is the seventh-largest car maker in the world, and major automotive manufacturers are increasing their investments, creating opportunities in the second- and third-tier supplier markets. Mexico’s growing economy offers opportunities for Wisconsin companies in these and many other sectors.
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