High Point Market gains IBP designation
Move expected to draw more foreign buyers
By Furniture Today Staff -- Furniture Today, March 24, 2008
HIGH POINT — This spring’s show will be the first High Point Market that has been designated a U.S. Commercial Service International Buyer Program (IBP) event, a move that market organizers expect will draw more foreign buyers.
Officials said they’ve also just learned that the spring 2009 market will be awarded IBP status as well.
Because the Commercial Service, part of the U.S. Department of Commerce, generally works with industry shows that only occur once a year, the October markets don’t have the designation. But market organizers say they expect some residual benefit for the fall shows.
“With the Internet, ease of transportation, and free trade agreements, there’s never been a better time to be selling internationally, and we’re delighted to have the High Point Market Authority as part of the IBP program due to the market exhibitors’ great export potential,” said Eugene Quinn, international trade specialist with Commerce’s U.S. Commercial Service.
Because of the designation, High Point is one of the events that Commercial Service promotes to potential marketgoers worldwide.
“Throughout the past year, we have worked closely with the (Market Authority) to undertake promotion of the market through our Commercial Service offices around the globe. The level of cooperation and commitment we have experienced from throughout the team has been nothing less than outstanding,” said Quinn.
Market Authority President and CEO Brian Casey said the International Buyer Program is designed to connect U.S. companies with foreign customers, and to raise global awareness of a designated event.
“We are pleased to report that our involvement in the program is already paying off with a number of major delegations bound for High Point Market this spring,” he said. “To date, these delegations include the West African nations of Senegal, Mali, Burkina Faso, Guinea Conakry and Cameroon, as well as Spain, Mexico, Uruguay and Canada. These delegations are, of course, in addition to the significant numbers of international buyers that regularly attend our market.”
The Market Authority and U.S. Commercial Service will host foreign visitors in the new International Buyer Center at Wrenn and High Streets, on the first floor of Showplace West.
A reception has been set for 5 p.m. to 7 p.m. Tuesday, April 8, in the String & Splinter Club. All international guests at market are invited.
Meanwhile, Department of Commerce personnel will be at market to conduct matchmaking activities between delegates, foreign buyers and exhibitors.
“Our commercial officers, who are on the ground in markets around the world, will be on hand to present conference sessions and country-specific briefings to exhibitors seeking assistance,” said Quinn. “While we’re here to assist companies of all sizes, we particularly want to help small- to mid-size businesses that may never have considered exporting.”
Casey said that more than 70% of the world’s purchasing power is beyond U.S. borders.
“And if you’re not thinking globally, it’s a safe bet that your competitors are, or they soon will be,” he said. “More importantly, many companies find diversifying their customer base abroad can help buffer difficult economic cycles at home. There’s really never been a better time to take the plunge.”
