Iowa firms sign trade deals with Chinese companies

DES MOINES, Iowa (AP) — Iowa companies and organizations have signed 20 cooperative trade agreements with their counterparts from the Chinese province of Hebei solidifying a 30-year sister city relationship between Iowa and the province.

The Des Moines Register reports (http://dmreg.co/19v1I0A ) the value of business investment involved in each cooperative agreement was not disclosed by the Iowa Economic Development Authority, but the agency’s officials estimated the total at $1 billion.

Executives from Iowa-based companies including Principal Financial Group and grain bin manufacturer Sukup Manufacturing say the trade deals will mean jobs and significant business investment for Iowa and the Chinese province.

China is one of Iowa’s largest trading partners. The state exported $751 million worth of products to the growing nation last year including machinery, vehicles, processed meat, cereal, and animal feed.

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Information from: The Des Moines Register, http://www.desmoinesregister.com

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