Creating a foothold in the Far East is critical to securing investment opportunities. To that end, in April 2013, City staff officially opened the Sacramento Office of Trade and Education. This move now allows the City to be a serious player in the global economy and also positions the Capital City of a state with one of the world’s largest economies a chance to be a relevant player in trade and export.
This office, uniquely positioned in the heart of the bustling and growing Chongqing, China, will serve as a destination and a place to encourage direct investment that will ultimately spur job creation, trade and investment opportunities, and further the goals of creating international relationships that generate new economic development for Sacramento.
Through this partnership, the City hopes to bolster its growing industry clusters found in Sacramento region and even throughout the state of California, including clean-energy technology, agriculture and food safety and education.
Partnership for global investment
In August 14, 2012, Sacramento City Council passed a resolution ratifying a Memorandum of Understanding with the Chongqing Foreign Trade and Economic Relations Commission (COFTEC). The purpose of the MOU is to memorialize the mutual desire of the City of Sacramento and COFTEC to seek a strategic-cooperation partnership leading to a mutually beneficially collaboration.
The MOU establishes a framework for suggested projects and fields of collaboration. In addition to establishing a trade office in Chongqing, the City will also explore opportunities to development a clean technology center and plan information and educational delegations exchanges.
Read a recent article in the Sacramento Business Journal on the latest happenings regarding our work in trade and export with China.