Maine-Asia exchange nets results Revenues from trade mission expected to reach $3 million

AUGUSTA – Maine businesses participating in the Gubernatorial Trade Mission to South Korea and Japan in October are already reporting sales and projecting increased revenues in 2008.

Revenues resulting from the more than 100 meetings that took place between Maine businesses and potential product distributors are expected to reach $3 million in the next 12 months, according to a poll conducted by the Maine International Trade Center.

The weeklong trip, organized by MITC in cooperation with the U.S. Foreign Commercial Service Offices in Tokyo and Seoul and the Foreign Agricultural Service’s FoodExport USA program, gathered Maine businesses representing a wide range of industries, including education, seafood, tourism, agriculture, wood and wood pulp, landscaping machinery, information technology, law, consumer goods and building products.

In Asia, industry experts in each sector worked for weeks to prescreen potential customers for the Maine businesses and organizations.

On Tuesday, the participating businesses gathered at the Blaine House for a luncheon and took turns relating lessons and results of the trip.

Chris Frank, CEO of Intelligent Spatial Technologies in Orono, said the trip was worthwhile and the interest Asian companies have shown in his product – a software device for cell phones – has prompted him to redesign his business plan and consequently attract more capital investment in the U.S.

Chris Dowe, head distiller at Cold River Vodka in Freeport, said he chose to collaborate with small distributors in South Korea and Japan. Come April or May, residents of Tokyo will be spotted sipping the vodka made from Maine potatoes, and the drink should appear in Seoul next summer.

Mark Eichenbaum, CEO of The Baggler Co. in Augusta, which makes a device of the same name that allows users to carry multiple shopping bags on a single handle, said the trip yielded contracts with two distributors in Japan and one in South Korea.

“For a small company, [Gov. John Baldacci’s] and the U.S. Embassy’s involvement brings incredible opportunities. It opened many doors that I would not have had access to just traveling alone and provides an important support system,” Eichenbaum said. “I have had three communications with Japan just today.”

Japan and South Korea are the fourth- and fifth-largest export markets for Maine products. In 2006, $128.6 million in Maine products were sold to Japan and $112 million in Maine products were sold to South Korea. Maine has seen double-digit growth in exports to these markets in the last year.

“I think that this has definitely been our most successful gubernatorial mission to Asia. The timing was right in terms of the exchange rate, the growth in both markets and the maturity of our companies to venture out into what can be more challenging markets,” said MITC President Janine Bisaillon-Cary. “The U.S. ambassadors in South Korea and Japan and the Korean International Trade Association all indicated that they would be interested in coming to Maine.”

Anne Ravana may be reached at aravana@bangordailynews.net or 990-8133.