Trade Program Results in $3.3m New Trade Between U.S. – Guatemala

The Trade Capacity Building Institute in New Orleans, in conjunction with the American Chamber of Commerce Guatemala and the Hispanic Chamber of Louisiana, reported a recent trade mission resulted in more than $3.3 million in new business for four Guatemalan small- and medium-sized businesses and Louisiana trading partners. Several other companies represented on the mission are currently negotiating new business contracts, as well.

Marcia Sergent, director of the institute, said a result of the mission included training for more than 35 businesses in the Central American country, in which U.S. business owners helped teach their counterparts international trade laws.

“This Trade Certificate Program highlights the necessity and value of this program, as well as the positive results from trade between Central America and the United States,” Sergent said. “Additional programs are being planned throughout Central America and the Caribbean, which will continue to link small and medium-sized businesses from Louisiana to trading partners throughout the region.”

Oil-and-Gas Industry has $70 billion impact to La, group says Oil and gas-related industries have a $70 billion economic impact on the Louisiana economy, according to a new study released by the Louisiana Mid-Continent Oil and Gas Association. Loren Scott, an economist at Louisiana State University, conducted the study, and came to the figure by taking the direct financial impact made by oil and gas extraction, pipelines and refining and calculating the “ripple effect” those dollars have in terms of jobs supported and taxes paid.

“This study quantifies the fact that the oil and gas industry is a growing industry and one that has a tremendous impact on the state,” said Chris John, President of Louisiana Mid-Continent. The energy sector employed about 58,000 in 2006, with total wages of $4.2 billion.