The Daily Advertiser - China a Top Export Market for Louisiana

Op-Ed

By Charles Boustany

The U.S.-China relationship is important and evolving. It will define the world's economic trajectory in the 21st century. The U.S. and China are the dominant powers in the Asia-Pacific region and the two largest economies in the world. The security in the region is vital for an area accounting for 40 percent of the world economic growth. Our interactions with China are of major strategic importance.

So why is this important to Louisiana? Louisiana is a maritime state. One in five jobs is linked to trade. Louisiana ranks sixth among the states in total U.S. exports. Our Louisiana economy depends on open markets and freedom of navigation in shipping lanes. Companies in Louisiana exported $63.1 billion in goods to world markets in 2013. Exports to China totaled $8.23 billion. Trade continues to serve as a primary driver of economic growth and job creation in our state.

China has just enacted major economic reforms intended to shift its economy from export driven growth to growth driven by domestic consumption. If fully implemented, the reforms will further open China's market to American goods and services. China is Louisiana's top export market. Businesses in Louisiana stand to gain significantly whether they are selling chemicals, processed food, agricultural commodities and metals or providing engineering, energy, financial and healthcare services to meet this growth in demand.

Source