iblv editorial:

Potential partner

South Korea reaches out to Nevada

Fri, Jul 3, 2009 (3 a.m.)

In a visit last week with the editorial board of the Las Vegas Sun, a sister publication of In Business Las Vegas, South Korea’s ambassador to the United States expressed his nation’s desire to expand trade with Nevada.

The offer from Han Duk-soo, as reported by Richard N. Velotta, should be embraced by the state’s elected officials and business leaders.

Las Vegas has long enjoyed the benefits of tourism from Asia. But the ambassador’s overture holds out hope that the city can also benefit from the increased exchange of other types of goods and services with his country.

South Korea represents Nevada’s 18th largest international trading partner, according to the Nevada Economic Development Commission. As Velotta reported, Nevada’s exports typically include minerals, clothing and prepared food.

It could be beneficial to explore the potential for South Korean-backed companies to locate in Southern Nevada. That might not only create jobs, but it could also give valley businesses new opportunities to sell goods and services.

As the economy becomes increasingly globalized, Nevada should position itself to take advantage of new or expanded relationships with foreign trading partners. South Korea’s offer to do just that with Nevada is an opportunity this state should not pass up.