Each Year NEWTRAC sponsors the annual World Trade Day event in late May to bring information to its members and the community on global trade issues that effect their lives and businesses. We also conduct various educational seminars and programs, in conjunction with our partner organizations, in Northern Nevada for the benefit of our members and the community.
Every year, NEWTRAC awards outstanding students a scholarship to study abroad. This annual service of NEWTRAC shines a light on the future of Nevada’s international business community. Wealso annually present the “Excellence in International Business” award.
Nevada Leads the Nation in Adapting to World Trade Demands
According to the Center for Business and Economic Research at Indiana’s
Ball State University, Nevada ranks No. 1 in export adaptability. Ball State’s
“U.S. Export Adaptability at the State Level,” released in May 2011,
examined export adaptability of individual states to the changing demands from
Organisation for Economic Co-operation and Development (OECD) countries during
the period of 1999 to 2001.
Nevada increased exports in demand-dynamic sectors such as pharmaceuticals,
chemicals, machinery, electrical and medical products, while overall U.S.
exports declined during the time frame. Even large volume export states such as
Texas and California (ranked 9th and 28th respectively) haven’t responded as
quickly to global demand.
Also during this period, Nevada saw an almost 400 percent increase in
agricultural exports of food and related products to developing countries, like
China, that are demanding Western products with high food safety regulations.
(Source: Nevada Commission on Economic Development)