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News Room

Zions Bank to Host Utah Trade Mission to Hong Kong, South China

September 14 2015 - 11:31 am

Press Release
For Immediate Release
September 14, 2015

Zions Bank Contacts:
Mark Garfield, International Banking Manager
(801) 844-7688 (office) | Mark.Garfield@zionsbank.com

Heidi Prokop, Public Relations Manager
(801) 844-7915 (office) | Heidi.Prokop@zionsbank.com

Utah GOED Contact:
Michael Sullivan, Communications Director
(801) 538-8811 (office) | mgsullivan@utah.gov

Zions Bank to Host Utah Trade Mission to Hong Kong, South China
Utah Business Leaders and Government Officials to Build Key Relations in Asia Sept. 14-18

SALT LAKE CITY, Utah; Sept. 14, 2015 — Zions Bank will lead a group of local business and community leaders in a Utah trade mission to Hong Kong and Guangzhou, South China, from Sept. 14-18. The Zions Bank State of Utah Trade Mission provides an opportunity for Utah companies across a variety of sectors to connect overseas with potential agents, distributors, buyers and joint-venture partners.

“Hong Kong and Greater China are major trading partners with whom we have longstanding relationships of trust,” Governor Gary R. Herbert said. “Maintaining that trust is critical for Utah businesses to compete and win in the global economy.”

“We are leading a unified effort in building and expanding Utah’s commercial activities in these two dynamic international markets,” said Mark Garfield, senior vice president and manager of International Banking at Zions Bank. “Zions Bank is committed to supporting local companies as they strive to increase their competitiveness through overseas expansion.”

The trade mission is supported by World Trade Center Utah, the Governor’s Office of Economic Development, U.S. Commercial Service and Sundance Institute. A key component of the visit is the one-on-one meetings set up by U.S. Commercial Service for participants to discuss opportunities with successful business leaders in Hong Kong and Guangzhou.

The group of approximately 60 participants, including Utah Governor Gary Herbert and Zions Bank President and CEO Scott Anderson, will attend a networking reception hosted by the U.S. Consulate in Guangzhou, various business meetings, and will participate in Sundance Film Festival: Hong Kong, which features 11 films from the 2015 Sundance Film Festival in Utah. Zions Bank is the presenting sponsor of the Sundance Film Festival: Hong Kong, which is in its second year showcasing highlights from Utah’s annual cultural event to Asian audiences.

Business leaders participating in the trade mission include local companies from a variety of industries: from retail clothing and home décor to business consulting, energy, software development and real estate.

“Through site visits, panels and networking events, the Utah delegation will learn what it means to do business in China and Hong Kong and what rules and regulations they need to be aware of,” said Derek B. Miller, president and CEO of World Trade Center Utah. “Education is a huge component of this trade mission, because a thorough understanding of the market is essential for success.”

Hong Kong was selected as a trade mission destination for its role as a global financial powerhouse. It is known as one of the world’s most services-oriented economies, with services sectors accounting for more than 90 percent of its GDP. Hong Kong’s economy expanded by 2.8 percent from last year and unemployment was 3.3 percent, close to the lowest level in 17 years, according to an economic report by HKTDC Research.

Hong Kong’s neighboring city, Guangzhou, was also selected as a site for the trade mission as it is China’s third largest city and serves as an important national transportation hub and trading port. When combined with Hong Kong, the area has the most populous metropolitan agglomeration in the world, at 54 million.

Zions Bank has previously hosted the Mountain States Trade Missions in countries including United Arab Emirates, Turkey, Columbia, Panama and Vietnam.

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About Zions Bank
Zions Bank is Utah’s oldest financial institution and is the only local bank with a statewide distribution of branches, operating 100 full-service branches throughout Utah. Zions Bank also operates 24 full-service branches in Idaho. In addition to offering a wide range of traditional banking services, Zions Bank is also a leader in small business lending and has ranked as the No. 1 lender of U.S. Small Business Administration 7(a) loans in Utah for the past 21 consecutive years. Founded in 1873, Zions has been serving the communities of Utah for more than 140 years. Additional information is available at www.zionsbank.com.

About the Utah Governor’s Office of Economic Development (GOED)
The Governor’s Office of Economic Development (GOED) charter is based on Governor Gary Herbert’s commitment to economic development statewide. Utah’s economic development vision is that Utah will lead the nation as the best performing economy and be recognized as a premier global business environment and tourist destination. The mandate for this office is to provide rich business resources for the creation, growth and recruitment of companies to Utah and to increase tourism and film production in the state. GOED accomplishes this mission through the administration of programs that are based around targeted industries or “economic clusters” that demonstrate the best potential for development. GOED utilizes state resources and private sector contracts to fulfill its mission. For more information, visit business.utah.gov.

About World Trade Center Utah
The mission of World Trade Center Utah (WTC Utah) is to help Utah companies think, act and succeed globally. WTC Utah accomplishes this mission through three key objectives. First is to motivate and educate Utah businesses to expand their global presence through training seminars, regional forums and newsletters focused on international business development, trade issues and export opportunities. Second is to build capacity of Utah businesses for international trade through B2B consultations to identify expansion goals, assess current capabilities, determine overseas opportunities and connect companies with market experts and potential partners. Third is to expand global network of Utah businesses through trade missions and networking with foreign trade officials. To learn more, visit wtcutah.com