Posted: Saturday, August 20, 2005 7:00 pm
The success of the Nebraska trade mission to Cuba led by Gov. Dave Heineman attracted deserved attention.
Selling $17 million worth of corn, wheat, soybeans and beef over the next 18 months will provide an appreciated boost to the state economy. Biggest winners in the agreement were growers of Great Northern beans, who sold 10 percent of their annual production.
The new trade agreement underscores the importance of export markets to Nebraska's economy.
As significant as it was for state officials to pry open a new market for agricultural products, the $17 million in export revenue will be only a minor slice of Nebraska's annual sales throughout the world.
Last year Nebraska exported about $2.3 billion worth of goods throughout the world, according to the U.S. Department of Commerce. The deal with Cuba would not even place the island nation among the top 20 countries in terms of annual sales.
How many Nebraskans would be surprised to know that their state exported $19.7 million worth of goods to New Zealand in 2004? Or that Thailand bought $25.9 million? Or that Singapore purchased $32.4 million?
A story in the business section of last Sunday's Journal Star focused on the importance of China's booming economy to Nebraska. Soaring trade with the world's most populous nation in recent years has helped make up for the loss of beef sales to Japan because of concerns about Mad Cow disease.
Last year Nebraska sold $87.7 million worth of goods to China. Most of that $49.3 million was processed foods. But other firms like Lincoln's Teledyne Isco are enjoying increased sales of products like wastewater measuring instruments and equipment used in oil exploration.
Prospects for increased international trade were boosted earlier this summer when Congress approved the Central American Free Trade Pact with Costa Rica, El Salvador, Honduras, Guatemala, Nicaragua and the Dominican Republic.
When CAFTA is fully implemented Nebraska's 3rd House District will gain an estimated $25 million to $44 million in trade, according to an estimate from the American Farm Bureau. Beef exports to Central American are projected to rise from $12.5 million to $41 million, according to the National Cattlemen's Association.
Those figures drive home the point how important it is to Nebraska's farmers, ranchers, business owners and wage earners to support efforts to lower trade barriers around the world.
Gov. Dave Heineman and Nebraska's trade delegation endured some criticism most notably from Florida's congressional delegation for their recent mission to Cuba, but when it comes to promoting international trade Nebraska cannot afford to be timid.