Date: 05/02/2012
Final
Presentation by the Office of International Trade
HOUSE COMMITTEE ON FINANCE
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01:54 PM -- Presentation by the Office of International Trade
Representative DelGrosso welcomed the Office of International Trade and noted that state law requires the office to inform the finance committees and General Assembly about ongoing trade negotiations, developments, and impacts on Colorado's economy and laws.
Ms. Sandi Moilanen, representing the Colorado International Trade Office (ITO), began by distributing a handout to the committee on international trade developments (Attachment C) and level of economic activity tied to Colorado's trade with other countries. Ms. Moilanen noted that trade volume in 2011 grew by 5.0 percent which was a decline from 13.8 percent growth in the prior year.
Ms. Moilanen continued by saying that U.S. exports of merchandise goods, commodities, and agricultural products increased 16.0 percent in 2011 while Colorado's exports grew by 9.0 percent in the same time period.
The committee discussed export statistics for 2011 by trade sector. Ms. Moilanen noted that Canada was the largest trading partner in 2011 and that over 44,000 jobs in Colorado contributed to state exports. The discussion continued on beef exports and closed with statistics on foreign destinations. Ms. Moilanen closed by saying that the state exported products to 194 destinations in 2010 totaling over $7.3 billion in commodity activity.