Italy and Spain provide a wealth of business opportunities for U.S. companies. Italy is the world's fifth largest industrial economy, with a GDP of more than $1.2 trillion. And, Spain has a GDP of $592 billion. The United States is a major trading partner of both countries -- American companies supply nearly $12 billion of Italy's $222 billion in imported goods, and over $8 billion of Spain's $130 billion imports.
Italy and Spain offer American companies promising niche markets in their well developed industrial and consumer sectors as well as in business and social services. Business prospects are especially promising in computers and software, telecommunications, environmental technologies, instrumentation, medical devices, electrical power, airport development, and franchising.
The goals of Women In Trade Business Development Missions support the Clinton Administration objective of serving a broad range of exporters and promoting the role of women business owners -- as well as Secretary Daley's priority of encouraging small and mid-sized American companies to explore trade openings and gain potentially lucrative markets. The principal commercial aim is to introduce American companies to new export markets and business opportunities -- to have WIT Mission members assess sales prospects and business partners first hand.
WIT Mission executives will have two days of one-on-one meetings with prequalified sales prospects, potential agents, distributors, licensees, joint venture, and other business partners in each city. Mission members receive comprehensive briefings from local business executives and other experts on how to do business in Italy and Spain, attend business networking receptions, and receive market reports. Meetings with potential business partners may be in a central location or at the potential partner's location.
Sunday May 10 Mission members gather in Madrid Monday May 11 Business meetings in Madrid Tuesday May 12 Business meetings in Madrid Wednesday May 13 Transfer to Milan Thursday May 14 Business meetings in Milan Friday May 15 Business meetings in Milan - Mission concludes
Company recruitment will begin immediately and conclude by April 1, 1998.
Recruitment of WIT Mission members will be conducted in an open and public manner, including publication in the Federal Register, direct mailing, broadcast fax, press release to appropriate media, posting on the Internet, promotion at domestic exhibitions and conferences, and publicized through a network of women's business organizations.
Company applications will be reviewed by the Commercial Service staff in Italy and Spain for market potential, as they are received -- then accepted on a "first come, first served" basis until April 1, 1998 -- and need to include a signed Participation Agreement and the participation fee. This WIT Mission will be limited to 20 firms. A company's products or services should have market potential in Italy and Spain, and the product or service must either be produced in the United States or, if not, be marketed under the name of a U.S. firm and have at least 51 percent U.S. content of the value of the finished product or service.
Any partisan political activities (including political contributions) of an applicant are entirely irrelevant to the selection process.
Ms. Loretta Allison Women In Trade Business Development Missions U.S. Department of Commerce, Room 2003 Washington, DC 20230 Telephone: 202-482-5479 Facsimile: 202-482-1999