Why does Florida have the 15th largest economy in the world? Governor Ron DeSantis stated it is “because our state has worked to create partnerships with other countries to create jobs and boost the economy.” That is why Governor DeSantis is leading a team on an international trade mission to Japan, South Korea, Israel, and the United Kingdom.
Florida’s delegation will meet with each country’s government leaders and business executives to discuss expanded economic partnerships with Florida. The meetings will also strengthen our economic relations with the four countries and exemplify Florida’s position as a world economic leader. Florida has worked hard over the past few years funding and providing seaport and airport expansions and improvements to enhance the transport of imports and exports of goods. These infrastructure expansions and improvements strengthens and secures our international economic partnerships.
On Monday, Governor DeSantis and First Lady Casey DeSantis met with Prime Minister Fumio Kishida of Japan. They discussed their trade relationship and their strategic partnership which is based upon the shared values of democracy, human rights, and a free market economy. Japan is Florida’s third largest bilateral trade partner surpassing $7.7 billion and a home base of over 200 Japanese companies which employ over 22,000 Florida residents. Japan’s holdings in Florida total more than $5.2 billion and Japan imported approximately $626 million in good from Florida’s seaports and airports. Governor DeSantis all proposed to expand Florida’s partnership with Japan by providing direct flights between Florida and Japan. This direct connection would support and grow tourism and entrepreneurship. Governor Ron DeSantis stated, “Japan has been a strong trade partner with Florida and I believe that we can work together to create even more opportunities for the future.”
Following the Japan visit, the team will travel to South Korea and meet with Gyeonggi Province, Governor Kim Dong-yeon and Prime Minister Han Duck-soo. Florida is the 7th largest bilateral trade partner in this region. The merchandise trade between Florida and South Korea, exceeds $1.4 billion. South Korea’s imports from Florida exceed $341 million and Florida’s imports from South Korea exceeded $951 million.
After South Korea, the delegation will travel to Israel where they will met with government officials and companies which have invested in Florida and are interested in investing in Florida. One such company is INSIGHTEC which has partnered with a Florida Universities to use their technologies to study Alzheimer’s disease. There are more than 50 Israeli companies in Florida which provide approximately 2,400 jobs. Israel is the 19th largest foreign investor in Florida with estimated holdings of $647 million. Bilateral trade between Florida and Israel exceeds $651 million and has grown over 65% the last five years. Florida currently offers non-stop flights from Miami International Airport to Tel Aviv which helps increase tourism from Israel and provides invaluable business relationships.
The final stop will be the United Kingdom where the team will meet with Foreign Minister of the United Kingdom. British investment holdings exceed $18 billion in Florida, with 350 companies and 67,000 employees. It is considered one of Florida’s most signification partners due to Florida being the most visited American State by British businesses and tourists. Florida also provides nine direct flights to England and Scotland from three Florida airports.
International trade and business are very important to Florida’s economy. Finding ways to strengthen our current partnerships and introducing new and inventive ways to attract new partners will keep Florida at the top of the world leadership and world trade. That concludes this week’s issue of The Straight Truth.