By Kristen Rupert 

Nearly 100 executives from companies doing international business participated in AIM’s recent Global Symposium held at TripAdvisor.  Sara Wilshaw, Chief Trade Commissioner for Canada, offered keynote remarks about the strength, longevity and strategic importance of the US-Canada relationship.  More than $2.5 Billion in trade crosses the border between the US and Canada every day.  Continent-wide supply chains, bolstered by the USMCA free trade agreement, help US and Canadian companies thrive.   

Panelist Jessica Jacoby-Lemos, Head of Government Affairs at AIM member Ocean Spray, explained that her company is a co-operative owned by its 235 farmer-growers in Massachusetts, six other US states, Chile, and Canada.  Global markets are critical to Ocean Spray’s growth, with the Middle East, Latin America, and Southeast Asia offering great promise.  The company is working to introduce cranberries to new international customers who are not familiar with this fruit that is native to North America. 

Panelist Lauren Gleason, Chief Administrative Officer for the Port of Boston, Massport, also an AIM member, shared that the port has benefited from $850 million of recent investment thanks to advocacy from federal, state, and local partners, which includes a brand-new berth, three new ship-to-shore cranes, and the Boston Harbor Dredging Project.  The Port now handles larger container ships, offers additional support to the trucking community, and provides cargo service to more than 30 ports worldwide, including new service to Vietnam, India, Thailand, the Middle East, and the Mediterranean. 

The AIM Symposium speakers agreed on common themes regarding global business success: 

• Companies—and governments—need strong, trustworthy, like-minded partners. 
• Face-to-face meetings matter.  People do business with people.  In the post-pandemic era, in-person meetings are critical. 
• International markets should be a vital component of a company’s growth strategy.  Domestic demand alone is not sufficient for significant growth. 
• Geographic areas with increasing populations, a growing middle class, and many young people are particularly attractive.  This includes India, Southeast Asia, and the Middle East. 
• Supply chain resiliency is vital.  Critical supply chains of products that are essential for citizens’ health and for national security need to be protected.   
• Technology can help solve some supply chain transport issues.  Systems that provide visibility and transparency into the location of containers, similar to how consumers can easily see where their Lyft or Uber driver/delivery is, are under development at the federal level. 
• Artificial intelligence will enable companies to effectively mine their own data and partners’ large data sets. 
• Diversification—where you trade, what you trade, how you trade, and who trades—is important.  Ensure that businesses large and small, with diverse owners (women, under-represented minorities, start-ups), are part of your consideration set. 
• Geopolitical events create uncertainty, make mitigation planning difficult, and ultimately affect US jobs.  Whether it’s the limited availability of key inputs from Ukraine, or the risk that ships transiting to the Suez Canal through the Red Sea will be attacked, or the potential closure of key Middle Eastern ports, global conflicts have a tangible impact on trade.