TBO.com - TBO is Tampa Bay Online

Tampa's Global Future Arrives From Latin America

ADVERTISEMENT

The Tampa Tribune

Published: December 1, 2008

By its very nature as a port city, Tampa has long profited from the global economy. The question for city leaders today is how best to take advantage of the evolving world marketplace.

A glimpse of what could be came recently when Tampa hosted the International Retailers of the Americas Conference. It was the first time the convention of business leaders from throughout Latin America was held on U.S. soil - a coup for Tampa and a sign of the city's good standing throughout Central and South America.

The convention brought together thousands of businesspeople from the United States and abroad to explore greater trade opportunities. Nothing beats doing business face to face and sealing deals with a handshake.

In hosting this gathering, Tampa is wisely building on its Hispanic heritage, its cultural ties to South and Central America, and its position as a centrally located transportation hub. Tampa has a growing roster of small businesses owned by Hispanics, who are becoming major if often unrecognized players in international trade.

They would be well advised to begin making more noise about the national and local support they need.

The Hispanic Chamber of Commerce is right to stand solidly in the corner of free trade agreements, including the politically fragile Colombia Free Trade Agreement. The pending deal could use more public support from its members.

The trade agreement would give a big boost to Tampa's economy and deserves stronger local support. If Congress approves the agreement, tariffs on U.S. products shipped to the South American country would fall sharply.

Now, the wholesale price of many of the U.S. products Colombia buys are increased by about a third by tariffs while most Colombian goods enter U.S. ports tax free.

Trade agreements do raise concerns about possible job losses for U.S. workers. But trade also creates jobs and enhances political stability in areas where democracy and freedom need all the support they can get.

Augustine Martinez, president and chief executive officer of the U.S. Hispanic Chamber of Commerce, said at least 80 percent of the U.S. companies exporting to Peru, Panama and Colombia are small businesses - a market worth more than $3 billion a year.

Last year, based on container volumes, Mexico was the largest trading partner for goods flowing through the Port of Tampa. But Brazil and Colombia also were high on the list.

"I see more and more business in Tampa going global," said Mark Huey, Tampa's manager of economic development. "We are a gateway to Latin American customers."

The European Union and Canada are moving forward with their own free trade agreements with Colombia as Congress stalls on a vote.

One thing is certain, the longer the United States takes to figure out how it wants to trade with Latin America, the more it stands to lose ground in opening up these key markets. The eager, friendly faces of the business people gathered in Tampa are a timely reminder that increasing trade with Latin American is a great way to grow local businesses.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT