Lake Elsinore Picked To Host World Trade and International Summit

It’s probably the biggest lineup of international business leaders Southwest Riverside County has ever seen.

On June 6, from 9 to 11:30 a.m., Lake Elsinore will host the World Trade and International Summit at The Diamond Club. The no-cost event open to the public includes an impressive list of guest speakers including keynote Leocadia Zak, director of the U.S. Trade & Development Agency. 

Other speakers include Philippines Ambassador Hellen De La Vega; Lee Fraser, executive director of Finance & Budgeting for Warner Bros. Worldwide Television Marketing and president of the Canada California Business Council; Abraham Kim, vice president of the Korea Economic Institute; David Josephson, regional director of U.S. Export Import Bank; and Subrina Chow, director of the Hong Kong Economic & Trade Office in Singapore.

“This is like no other,” said Tom Freeman, Riverside County Foreign Trade Commissioner. “We’re really excited about this conference.”

In addition to the guest speakers, Freeman said state representatives and local elected officials are expected to attend.

The event is also open to local business owners looking for a leg up on foreign trade. Freeman said Lake Elsinore was the right place to hold the summit because the city is a “targeted employment area,” meaning it needs jobs. According to Freeman, when companies export they create more higher paying jobs.

“This is a great place to showcase,” Freeman said of Lake Elsinore, and he’s hoping local business owners will take advantage of the opportunity to turn out and learn how to tap into foreign markets.

Riverside County is a Mecca of foreign trade, and the Riverside County Foreign Trade Office is boosting it by offering local business owners services such as loan underwriting and contacts in foreign markets, Freeman explained.

Fifty-two percent of the county's agricultural products are exported, and more than 50 percent of all products made here are shipped abroad, Freeman said.

“We have relationships with 62 countries,” he explained.

Additionally, a host of international companies are located in the county.

“They employ 13,000 workers here. It’s all around you,” Freeman continued.

To further compete, Riverside County supervisors signed off Tuesday on plans for a compact with the U.S. Trade & Development Agency that is intended to bolster area businesses' efforts to expand their goods and services into overseas markets.

First District Supervisor Kevin Jeffries sought approval of the proposed USTDA agreement, which is slated to be formalized during a ceremonial signing at the World Trade and International Summit.

Jeffries represents, among others, the city of Lake Elsinore and he lives in Lakeland Village.

Jeffries wrote in his submission to the board that the USTDA was interested in a "strategic partnership with the county ... to increase exports and global awareness of the county ... and open new markets for products produced or grown in the county."

Freeman characterized the partnership as a potential "force multiplier" in terms of drawing more international investors to the region.

The USTDA offers several programs designed to support American businesses trying to access emerging and established foreign markets, according to the agency's website.

In many cases, the agency supplies U.S. taxpayer-funded grants to overseas companies for business ventures that could potentially lead to the use of American firms for products and expertise.

For more information on attending the upcoming World Trade and International Summit and to reserve at seat, call 951-955-9812. --City News Service contributed to this report.