We are on the threshold of the most exciting period of business development the world has ever known. Worldwide political and economic changes have brought opportunities that were impossible to imagine a few short years ago. 

Let us take a look at what has already happened in the world economy, within the United States, and within Wisconsin. 

•The Canadian Free Trade Agreement has already lowered trade barriers between the U.S. and Canada, and Wisconsin sold more than $2 billion in goods to Canada in both 1992 and 1993.
 

•The North American Free Trade Agreement, if enacted, will create a $6 trillion Free Trade Zone with more than 360 million customers.
 

As countries develop their industrial capacity, they need educated workers. In many formerly third‑world countries, 98 percent of the population is now literate. These countries are producing quality products. This means we must continue to improve our industrial capacity and our workforce if we are to remain the world's manufacturing leader. 

International business means jobs. In 1992, we were the world's largest exporter, selling more than $446 billion worth of goods and services. Over nine million U.S. jobs are directly related to exports. 

If Wisconsin were a country, we would rank in the top 30 nations of the world. Our state has a $93 billion economy. Our total exports translate to 154,000 jobs. These jobs pay, on average, 17 percent more than comparable jobs in the domestic sector. The gap in manufacturing is 10 percent and in services an average of 20 percent. In fact, service sector jobs involved in exports made more than the average hourly wage for manufacturing as a whole. 

These past few years, Wisconsin's economy has continued to grow despite a national recession, in large part, because we have steadily increased our share of foreign markets. Our total direct exports reached $6.9 billion last year ‑ an all time record, and a 73 percent increase since 1987.

Last year's growth rate was 13.4 percent, which was twice the national average. Nationally, exports totaled $447 billion. Wisconsin ranked 17th among the states, up from 18th a year ago. 

Exports of transportation equipment increased 57 percent to nearly $1 billion: electronic equipment increased 23 percent to $460 million; exports of forestry products were up 84 percent to $75 million. Another big gainer was chemical products, which experienced a 22 percent increase, to $240 million last year. 

Canada remains our number one customer, buying $2.05 billion worth of goods in 1992. The United Kingdom is second with $414 million in purchases, and Japan is third with $400 million. 

Exports to the Middle East took a major leap in 1992. Saudi Arabia increased its purchase of Wisconsin goods by 189 percent to $356 million, moving up to the number four spot. Exports to Kuwait jumped 160 percent to $63 million.
 

A big reason for the Mideast increases, and a significant factor in the state's overall export growth was General Motors Corporation's automobile plant in Janesville. Last year, the plant shipped nearly 13,000 Suburbans, Blazers, Yukons and Crew Cabs to countries outside of North America.
 

Keep in mind that the figures mentioned relate to direct exports only ‑‑ the products that are manufactured and loaded up in Wisconsin for destinations abroad.
 

Wisconsin's indirect exports include products exported as components of another product manufactured in another state. Wisconsin's indirect exports also include finished products that are sold to wholesalers in other states who then export.

The direct export figures also do not take into account the export of services supplied by engineering firms, computer software developers, and educational institutions.
 

Export data is not readily available by county; however, from the Department of Development's data base, we estimate that there are at least 100 Central Wisconsin companies involved in exporting. They are selling all kinds of products, including: ginseng, mushrooms, snowmobiles, window • frames, venetian blinds, lawn and garden supplies, hardwood lumber, agricultural and materials handling equipment, and many others.
 

Wisconsin firms are proud of their marketing expertise. We identify customer's needs, profitably manufactured a product that satisfies those needs, and deliver the product to the consumer in a timely and dependable fashion. Remember, since you have proved that you can succeed in the United States, you can succeed in other countries as well.
 

If overseas companies can learn to produce and sell products that American consumers want, then certainly we can successfully market our product# overseas.

Many workers and executives do not realize how important the world market is to their companies. Trade and foreign markets are essential to Wisconsin's economy. 

Companies still willing to dismiss the 95 percent of the world's market that lives outside of the United States are letting sales opportunities slip away. They are also exposing themselves to being broadsided by foreign competitors. That is why this administration wants to support international trade, and the businesses that help Wisconsin gain an ever‑greater market share. 

Both the Department of Development and the Department of Agriculture, Trade and Consumer Protection, have staff that can counsel beginning exporters. We both sponsor Wisconsin booths at trade shows around the world ‑‑ exhibitions that can introduce your company's products to a completely new group of customers. 

The Department of Development has overseas trade offices located in Canada, Germany, Hong Kong, Japan, and Korea We hope to open a Mexico office in early 1994. 

The Bureau of International Development has offices in Madison, Middleton, DePere, and Milwaukee. The staff is experienced in everything from the basics of "How to Export" to country‑specific issues. 

Business people in Wisconsin can also share ideas through organizations such as the trade associations in Milwaukee, Northeast Wisconsin, Central Wisconsin, Southeast Wisconsin, and Madison; and the World Trade Centers in Madison and Milwaukee. These organizations provide a valuable means of disseminating information about international business. 

Exports are expected to grow at least as strongly in the 1990's as they did in the last decade. Opportunities are excellent for exporting Wisconsin products and services to Asia, Latin America, and other parts of the world. 

China, Taiwan, and Hong Kong comprise a marketplace that will expand astronomically in the coming years. China's economy is growing about 10 percent per year. In addition, there will be excellent opportunities in Latin American countries such as Chile and Argentina. 

In conclusion, the global economy will reward your efforts if you have the vision and determination to enter and steadily expand your penetration of these markets.