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Global Connections
Spring 2024 Interns: Guiding Global Expansion
Sixteen MU and Trulaske College of Business students interning with the MU International Trade Center shared findings from the semester-long global market research projects on April 26, 2024, with four Missouri companies each seeking to expand their sales internationally. Students completed extensive research to identify and evaluate international markets with sales potential for each of the participating companies: J. Rieger & Co. (Kansas City, MO); Show-Me Bar-B-Q Sauce (Rocheport, MO); Spoor Farms Popcorn (Martinsburg, MO); and Sunnen Products (St. Louis, MO).
What in the World? MU ITC Company Spotlight: Sunnen Products Company
Sunnen Products Company, a manufacturer of precision metal removal machinery and consumables based in St. Louis, Missouri, has had a long and beneficial relationship with MU International Trade Center faculty, staff and student interns. Over the past nine years, Sunnen has worked with MU to complete six projects that were customized to focus on an industry sector of interest and yield results designed to positively impact the international sales and marketing activities of the company. Projects completed:
- Honing industry insights (Fall 2015)
- Specialized sector analysis (Spring & Fall 2016)
- Electric vehicle industry insights (Fall 2019)
- Grinding industry insights (Fall 2022)
- Aerospace industry sector analysis (Spring 2024)
The MU International Trade Center is proud to work alongside Sunnen Products to support the company's continued growth and success as it celebrates its 100th year in 2024.
Recognizing Client Success
Congratulations to long-time client and MU ITC advocate and supporter Tom Dustman, international sales manager with Sunnen Products Co., for receiving the 2024 Advancing International Trade Award from NASBITE International. This award recognizes the dedication and service of those who are advancing international trade at a state and national level and recognizes leadership and contributions made. For more than 40 years, Dustman has provided leadership, mentorship and advocacy to support improving the global trade environment and representation for businesses in Missouri and across the United States. He is a true servant-leader with a rich spirit for volunteerism and giving back to the community. The MU International Trade Center was proud to support his nomination for this distinguished award.
Spring 2024 MU ITC Graduate Spotlight: Lucas Hayes
With strong interests in all things international, Spring 2024 graduate Lucas Hayes interned with the MU International Trade Center during the spring of 2023. He honed his global market research skills, completing analysis and sharing recommendations with a small Missouri-based craft distiller interested in guiding the strategic growth of their business.
Hayes also took the opportunity to say yes to forming an undergraduate team to participate in the 2024 NASBITE International Student Case Competition, where all three team members were successfully able to leverage their MU ITC internship learning and database mastery to win the undergraduate section of that national event.
Recognizing Student Success: 2024 Student Case Competition’s Undergraduate Team Winners
As a first in MU and Trulaske College of Business history, undergraduate students and former MU ITC interns Lucas Hayes, Aisling Kerr and Frank Pantoni competed in and won the 2024 NASBITE International Student Case Competition – Undergraduate Team Division on April 11, 2024. Annually, this case competition provides students from across the U.S. and around the globe with the chance to solve a real-world international business challenge posed by a U.S.-based company seeking to expand sales internationally. This year’s participating company was NEVCO Sports – the largest privately owned scoring and display manufacturer in the world, founded in 1934 and headquartered in Edwardsville, Illinois.
As shared by Lucas, Aisling and Frank: “Participating in the NABITE International Student Case Competition was a great experience. We were able to take the knowledge and skills that we previously learned during the internship and displayed them on the stage in this competition. We are excited that the skills that we have learned are tangible and applicable to real world professions.”
Where in the World? MU ITC Alumni Spotlight: John Farrell
John Farrell interned with the MU ITC during the Summer 2018 semester, completing a five-week internship based in Prague, Czech Republic. He graduated from the Trulaske College of Business in May 2019 with a BS BA with an emphasis in marketing. Having fallen in love with Prague and its people, Farrell followed his heart, relocating there following graduation, seeking to leverage his marketing skills in an international setting.
Where in the World? MU ITC Alumni Spotlight: Ben Scheiber
With a passion for service and a desire to explore, Ben Scheiber is living his dreams working as a Peace Corps community economic development volunteer in rural Costa Rica. He served as a student intern with the MU ITC during the Fall 2022 semester. He graduated from the Trulaske College of Business in May 2023 with a BS BA with an emphasis in management. Putting himself out there and drinking from a firehose of new things, Scheiber shares encouragement: “When you find yourself in a new environment, do your best to seek out opportunities and say yes as much as possible to speed up the integration process.”
New Program Spotlight: Trulaske Trade Trek
The MU International Trade Center provided a group of 18 Trulaske College of Business undergraduate students with an opportunity to travel to Kansas City in March as part of a new experiential learning opportunity called Trulaske Trade Trek. Students experienced global trade in action by visiting with exporters, importers, government and local trade resource professionals, local trade assets, and trade service organizations based in the Kansas City region.
GLOBAL DEVELOPMENT
Recognizing Success - MU International Trade Center: 2024 Program Excellence Award Winner
On April 11, 2024, NASBITE International recognized six individuals and organizations for their excellence in developing innovative programs and practices that improve international trade and education during its annual conference event in Las Vegas, Nevada. The International Trade Center was the recipient of the 2024 Program Excellence Award, which recognizes a leading edge program developed by an institution/organization that has a demonstrated history of success and that represents a best-practice model that can potentially be replicated by others to support global trade education and/or practice.
Building Competencies
Register Now! 2024 CGBP Training
August 6-9, 2024
If you are interested in international trade and seeking to better position yourself, your employees and your company for export success, you should make plans to attend the Certified Global Business Professional (CGBP) exam prep training offered by the MU International Trade Center August 6-9, 2024. Conveniently delivered via Zoom, participants have access to four hours of instruction each day (10:00 a.m.-12:15 p.m. and 1:30-3:45 p.m. CDT).
Join trade professionals from across the country by saying yes to this training and registering NOW!
Connecting Exporters
SAVE THE DATE: 2024 Mid-America Trade Summit
October 2, 2024
Each fall, the MU International Trade Center, along with trade assistance partners from across the region, hosts the Mid-America Trade Summit. Save Wednesday, October 2, as the date for the 2024 Trade Summit and plan to join us from 9 a.m.-3 p.m. CDT that day!
The summit brings together top exporters, global trade leaders and trade assistance providers from across Mid-America. Outstanding exporters are invited to share their export stories, highlighting best practices and lessons learned that have contributed to their export success.
Topics will include:
- Using e-commerce to grow your export sales and brand
- Incorporating AI to enhance your global business operations and market knowledge
- The importance of integrating sustainability into your global business strategy
- Ask the experts/exporter panel
Watch for registration for the 2024 Mid-America Trade Summit to open this summer.
GLOBAL INSIGHTS
Market Spotlight: Mexico
Mexico is the world’s 12th largest economy with a GDP of USD 1.8 trillion in 2023. The economy is forecasted for continued slow but steady growth through 2024, with an estimated 2.7% growth rate. In 2023, Mexico was the second largest trading partner to the U.S., with USD 323.2 billion, representing 16% of total U.S. exports. Mexico is the first, second or third largest destination for merchandise exports in more than 30 U.S. states, including Missouri. Its large, diverse market provides ample opportunities for U.S. products. Top U.S. goods exports include electronics, vehicles, fuels, minerals, plastics, machinery and agricultural products. The United States-Mexico-Canada Agreement (USMCA) provides additional trade-related benefits for U.S. companies. Close cultural, social and economic relations make Mexico an ideal market for U.S. products and services.
Trade Resource Spotlight: globalEDGE
globalEDGE connects global trade professionals to a wealth of information, insights and learning resources on international business activities. Created by the International Business Center and the Eli Broad College of Business at Michigan State University, and partially funded by U.S. Department of Education Title VI B grant (CIBE Program), globalEDGE is an essential trade tool for academics, students and business professionals. globalEDGE is your gateway to customized international business research on countries, trade blocs, states, industries, economic classification, business and economic indicators, statistics, and global management.
At a starting point for your exploration of this site, click on the “Global Insights” tab and then the “By Country” link. This will provide you with access to statistical data and insights for nearly every country in the world. Access economic, statistical, cultural, risk and indices that can provide you with valuable market insights to support business travel, development of business relationships or the evaluation of new market opportunities.
Trade Indicator Spotlight: Corruption Perception Index
The Corruption Perception Index (CPI) ranks 180 countries and territories around the globe by their perceived levels of corruption, scoring on a scale of 0 (highly corrupt) to 100 (very clean). More than two-thirds of countries evaluated scored below 50 out of 100, indicating serious corruption problems around the world. The overall average is only 43, leaving room for improvement for a vast majority of countries. Denmark is the least corrupt country in the world with an overall score of 90, followed by Finland at a very close second with a score of 87. The United States has a score of 69, ranking it 24th out of the 180 countries. Countries with the greatest corruption concerns include South Sudan, Syria, Venezuela and Somalia.