CITD Director Anthony Cambas served as a panelist at Tulsa’s Export Trade Matters seminar March 27
Untapped markets: Panel encourages Oklahoma companies to get more involved in exporting
About 95 percent of the global population lives outside the United States, and roughly 74 percent of the world’s buying power is outside this country, banker Drew Felling said Tuesday.
“But it’s a very small fraction of U.S. companies that are actually exporting,” said Felling, vice president of international trade at Commerce Bank in Kansas City, Missouri.
“I would say there are 7:1 importers to exporters in the United States. If we want to grow as an economy, we need to be thinking more about exporting. China is the new middle class, and India is the new middle class. They’re building and becoming consumer societies. If you’re not thinking about exporting, you should be.” The new cost for doing business in Tulsa.
That was the primary message Tuesday at Export Trade Matters, a seminar sponsored by the Tulsa Global Alliance and Commerce Bank at the Renaissance Tulsa Hotel & Convention Center.