By Andi Anderson
Iowa Secretary of Agriculture Mike Naig is expressing optimism about the potential for increased agricultural trade between Iowa and the United Kingdom (U.K.) as the U.S. and U.K. continue negotiations on a free trade agreement (FTA).
The U.K. was Iowa's fifth-largest export market in 2019, with approximately $11 million in grain sales and $50 million in exports of Iowa-made machinery. Naig believes that an FTA would provide even greater opportunities for Iowa farmers and agribusinesses to export their products to this significant market.
In addition to traditional agricultural products, Naig sees potential for increased trade in ag tech, an area where the U.K. has a strong presence. He suggests that Iowa could benefit from partnering with or investing in U.K.-based ag tech companies, highlighting the potential for mutually beneficial partnerships and investments.
Naig also pointed to the U.S.'s position as a major supplier of ethanol to the U.K., suggesting that the increased use of ethanol as a blending agent for gasoline could further boost Iowa's exports to the U.K. He emphasized the role of ethanol in helping the U.K. achieve its carbon emission reduction goals and Iowa's potential to continue being a leading supplier of ethanol to the U.K.
Naig encouraged Iowa businesses to explore export opportunities with the U.K., emphasizing the growing demand for high-quality agricultural products and services in the U.K. market. He advised businesses to learn more about the opportunities in the U.K. and to take advantage of available resources to succeed in this important market.
Photo Credit: istock-fangxianuo
Categories: Iowa, Business, Government & Policy