‘Matchmakers’ : The Arkansas World Trade Center is quietly opening doors to substantial investment opportunities around the globe.
Posted on Thursday, August 28, 2008
ROGERS - The Arkansas World Trade Center.
Let those five words sink in for a second.
Many residents have no idea such a facility exists in northwest Arkansas - assuming World Trade Centers are reserved for metropolises such as New York, Los Angeles and Chicago. Others have heard such an organization occupies the fourth floor at 3300 Market St., one of the largest buildings in the bustling Pinnacle Hills area. But even a significant number of those figure the operation exists for the sole purpose of serving Wal-Mart and its international interests.
Dan Hendrix, president and CEO of the Arkansas World Trade Center, has heard it all since the organization opened its doors on Jan. 15, 2007. And while he works to spread the Arkansas World Trade Center's wings, the organization has - without a considerable section of the population even knowing it's here - spread Arkansas' name across the globe. It's opened doors to opportunities that simply had not been here for companies of all shapes and sizes in the past.
The Arkansas World Trade Center is part of the World Trade Centers Association, comprised of more than 300 World Trade Centers in more than 90 countries, representing more than 1 million companies worldwide. While the Arkansas branch has established deep ties with such prominent northwest Arkansas companies as Wal-Mart and Tyson Foods, Hendrix will be the first to tell you the most significant impact has been felt in the small- and mediumsize business arenas.
"It's incredible - the doors the Arkansas World Trade Center has opened for us," said L. Kent Langum, vice president of international sales and marketing for Assembled Products Corp.
Assembled Products Corp. opened in 1982 and produces three lines of products - most notably Mart Carts, the electric shopping carts found in many grocery stores in the United States and abroad. In fact, Assembled Products Corp. has approximately 70 percent of the world market in electric shopping carts. What may surprise you is that the company calls 115 E. Linden in Rogers home.
Even with the success Assembled Products Corp. has enjoyed and a reputation as an innovator in its field, Langum said the creation of the Arkansas World Trade Center allowed the company to tap into markets it was unable to penetrate before.
"I obviously traveled before, but traveling with the Arkansas World Trade Center and using their connections, it's increased the productivity of those trips and made so much more possible," Langum said. "I've been to Peru, Nicaragua and Brazil (with the AWTC ), and they've had everything pre-set for me. They have key contacts ready to meet, appointments scheduled - people I wouldn't have been able to get to without their help."
According to the Arkansas World Trade Center Web site, its mission is to connect Arkansas to the world by providing international trade services to companies and individuals and by educating students in global commerce. The center brings together businesses and governmental agencies involved in foreign trade to further the economic outlook for the state as a whole and encourage stability, peace and world trade development on the global level, the site states.
"We're matchmakers," Hendrix explained. "We work with the other World Trade Centers, the United States Department of Commerce, and we've been on congressional trade missions all over the world. Several startup companies have been able to connect globally. There are some tremendous import and export opportunities."
Since opening its doors, Hendrix and Arkansas World Trade Center staff have flown 69, 350 miles around the world. A significant chunk of those miles have been trips to Central America. On Tuesday, a milestone was achieved when ProNicaragua - a not-for-profit institution whose mission is to generate economic growth and job creation in Nicaragua - opened an office at the Arkansas World Trade Center. The organization provides free support services to qualified investors seeking opportunities in Nicaragua, which boasts a population of 5. 6 million in the heart of Central America.
"Nicaragua is an agriculturally driven country, and we saw similarities and opportunities here in Arkansas," said Javier Chamorro, executive director of ProNicaragua. "We're trying to add value to our agricultural sector and Arkansas' agricultural sector. There are already investments both ways, but there are opportunities to strengthen those ties."
Earlier this year, ProNicaragua opened its first U. S. office at the Nicaraguan Embassy in Washington, D. C. Chamorro said Nicaragua is exploring options to open similar offices in such states as New York, California, Florida, North Carolina and South Carolina. But relationships created between the Arkansas World Trade Center and ProNicaragua paved the way for the organization opening an office in northwest Arkansas first.
"There's been talk of this day from the beginning - from the day we opened our doors," Hendrix said. "There's been constant communication, and now, here we are today. I believe this will serve as a springboard for more Central American countries."
Chamorro believes the United States and Nicaragua stand to benefit equally.
"We're creating a network to compliment each other," Chamorro said. "We're making information about opportunities available, and that's so important. The most successful way to do that is to tear down the walls that exist and meet each other."
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