Arkansas World Trade Center Established

Photo Submitted

World Trade Center Association

FAYETTEVILLE, Ark. — The University of Arkansas has entered into an agreement to become a member of the World Trade Center Association, one of the few universities to enter into such an agreement. University officials believe the trade center will bring together businesses and government agencies involved in foreign trade to enhance the economic outlook for the state of Arkansas and the region. It will also offer practical experience to UA students interested in global economics.

The World Trade Centers Association is a not-for-profit, nonpolitical association dedicated to the promotion and facilitation of world trade. The association connects its members to the global trade community in almost 300 cities and 90 countries through a powerful array of information and services. More than 750,000 companies are affiliated with the World Trade Center Association worldwide. The mission of the association is to support the establishment and successful operation of individual world trade centers, which enhances stability, peace, world trade and development, leading to economic growth.

Dan Hendrix, director of corporate and foundation relations at the University of Arkansas, said the planning for the Arkansas World Trade Center began last April when Congressman John Boozman convened a group of community business leaders, UA officials and area chamber executives to discuss the feasibility of such a center. Based on that discussion, it was determined that the University of Arkansas would play the lead role in the project.

In its application for membership in the World Trade Centers Association, the University of Arkansas wrote that its mission is to encourage stability, peace and world trade development on the global level. The Arkansas World Trade Center will provide a variety of services to international executives, business support services and government agencies. The center will support export and import trade initiatives and will be a source of information and services for businesses in the region to traverse the sometimes daunting cross into international trade. It will offer a trade specialist program and facilitate the education of undergraduates, graduate students and faculty in international trade through the Sam M. Walton College of Business.

“I am delighted that we have entered into this partnership with the World Trade Centers Association,” said Chancellor John White. “It’s a win-win situation for our state and is a valuable education outreach tool for the university. We expect the Arkansas World Trade Center to have a positive impact on businesses and corporations throughout Arkansas.”

U.S. Sens. Mark Pryor and Blanche Lincoln, U.S. Rep. John Boozman, Gov. Mike Huckabee, the Arkansas Department of Economic Development and the U.S. Department of Commerce have all endorsed the creation of the center.

“All Arkansans can be proud such a trade environment is being established for Arkansas to move forward,” said Larry Walther, director of the Arkansas Department of Economic Development. “As we work with companies around the world considering Arkansas as a business destination, this trade center will be a great resource to the international business community.”

“The establishment of this World Trade Center in Northwest Arkansas will have a great impact on businesses of all sizes throughout the state,” said Gov. Mike Huckabee. “In addition to the economic possibilities, the center will be a place where leaders from around the world can discuss opportunities and strengthen relationships. I look forward to the many benefits Arkansans will experience as a result of this announcement.”

The nonprofit Arkansas World Trade Center will initially be located on the fourth floor of the Pinnacle Building Center at the Shoppes at Pinnacle Hills in southwest Rogers. The organizational structure is still in the process of being determined. State and federal funding will go toward the center as well as program revenue from private memberships of statewide businesses. The center will also serve eastern Oklahoma and southwest Missouri.