FTZ SPAWNING VENTURE WITH CHINESE BUSINESS April Amadon Record Staff Writer
A luncheon at the Roswell Country Club Tuesday celebrated a new kind of business relationship, introducing business leaders from China to those in Roswell.
ROSWELL, NM (PRWEB) August 20, 2004
The Jade Gate Co. Ltd., a Chinese company, has been doing business with Lunsford Companies Inc. in Carlsbad for 10 years, according to a written statement from the Roswell Chamber of Commerce. Now, these two companies have become the first to utilize RoswellÂs Foreign Trade Zone to ship their goods.
The FTZ, which the U.S. Foreign Trade Zones Board approved in December 2002, is meant to stimulate international trade and help the local economy, according to the statement. A 524-acre area at the Roswell International Air Center is to be utilized for the FTZ. Items shipped to this area can remain duty-free, and the zone allows for storage, manufacture, repair and re-export of these goods.
If merchandise leaves the zone for sale in the United States, it can be taxed as usual.
Ai Fu Zeng, president of Jade Gate, and Li Xiofeng, an economic development planner, traveled from China for the luncheon. Both men met with Roswell business owners, many of whom said they see this new relationship as the first step toward bringing more jobs and business to the city.
"This is a huge effort," said Bill Armstrong, president of the Chaves County Development Foundation. Armstrong said the Chinese have expressed interest in other business ventures in Roswell.
Ai and Li brought with them a letter from Sun Yuanliang, mayor of Liaoyang Liaoning, China, for Roswell Mayor Bill Owen, requesting that the two cities forge a relationship as sister cities.
"ItÂs an honor on our part for a city in China to request to be sister cities," Owen said. "To have the opportunity to have a sister city program with a city so physically far from here. ... ItÂs an educational opportunity for everyone."
Yuanliang has also extended an invitation for Owen to visit China, along with CCDF Executive Director Bob Donnell and Chaves County Commission Chairman Harold Hobson, according to the statement from the Chamber of Commerce. The proposed visit would be used to discuss further business opportunities between the two cities.
William Lunsford, president of Lunsford Companies, said he expects the FTZ to help his business.
The company brought two containers of glassware to Carlsbad from Jade Gate in October 2003, and plans to begin importing jade items in the future. Jade Gate has leased property at the RIAC to store its goods, with plans for more operations in the future.
Lunsford expects the process to create 10 to 20 jobs for Roswell.
Through an interpreter, Ai said he is glad to further his relationship with business partners in Roswell.
"Roswell is a nice city," he said. "We believe it has a lot of investment opportunities."
Ai said he is looking forward to the future and more possible investments.
"We are aiming at doing more business with more American businesses," he said. "That helps the economy both on your side and on our side."
CONTACT INFORMATION
The Chaves County Development Foundation
Bob Donnell, Executive Director
P.O. BOX 849
Roswell, NM 88202
http://www.chavescounty.net
LUNSFORD COMPANIES, INC.
William B. Lunsford, President
509 W Mermod Suite E
Carlsbad, NM 88220
Tel: 505-885-0991 Fax: 505-885-0992
lunsfordcg@yahoo.com
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