In November of 2014 City of LA Mayor Eric Garcetti led an 80 member delegation including LAEDC president Bill Allen to China, Korea and Japan on a 10 day trade mission, to increase opportunities for LA County businesses, and to attract potential foreign direct investment (FDI) into the LA region. This builds a tradition of trade missions that the LAEDC and affiliate World Trade Center – Los Angeles participate in, with the knowledge that these trips lead to job creation for the residents of LA County.
The delegation visited Guangzhou, Shenzhen, Beijing, Shanghai, Seoul, and Tokyo. Participants included elected officials, businesses, hospitals, and many local leaders and stewards of our economy who are helping increase our trade relationships and set a foundation for economic growth in the coming years.
One of the major announcements of the trip was the Discover LA Medical Care initiative, designed to make it easier for Chinese residents to seek medical treatment at the centers of excellence for medical care in the Los Angeles region. Pictured at the right are some of the executives who traveled to China to sign the MOU and raise awareness of the initiative. This fits with LAEDC’s mission of promoting our economy, especially those parts of the economy that are “export oriented” and bring investment and revenue to our region from elsewhere.
LA County is the top international trade center in the nation, with Customs District trade values in excess of $400 billion annually and over 160,000 workers directly involved in international trade. These trade missions support that economic activity and set a foundation for growth and prosperity for our region, and in truth hundreds of thousands of jobs in our region benefit from this dynamic international trade economy, from manufacturers, to hospitals, to tourism and hospitality businesses, and beyond.