Business First of Louisville
Indiana Secretary of Commerce Mitch Roob Friday joined Zhang Yingxin, deputy director general of the China Investment Promotion Agency of the Ministry of Commerce, to sign a memorandum of understanding that outlines an economic development partnership between Indiana and the Chinese government.
The agreement outlines ways Indiana and China can strengthen trade and economic development opportunities, according to a news release from the Indiana Economic Development Corp.
According to information provided by the Indiana Economic Development Corp. for 2008, the most recent data available, Indiana exported $930 million worth of goods to China, making it the state’s sixth-largest export destination. Indiana exported $759 million worth of goods to China in 2007 and $559 million in 2006.
“As Chinese companies look to expand into the U.S., Indiana has the manufacturing and life science capabilities to attract a significant portion of this new investment,” Yingxin said in a release.
The agreement was signed at the U.S.-China Advanced Technology Vehicle Summit, which is being held this week in Indianapolis. The event brought a delegation of more than 70 Chinese automakers to Indiana to meet with Indiana companies that make components for hybrid and plug-in electric vehicles.
The event is being presented by the Energy Systems Network, a nonprofit organization that is focused on the growth and commercialization of Indiana’s clean-technology and energy sectors.