Above: Ben Wu, Assistant Secretary of Commerce for Technology Policy, discusses recent strides Maryland has made in the business sector. Photo by Winyan Soo Hoo.
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Above: Participants at the conference. Photo courtesy of Tang Wei
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Big changes may be in store for Maryland’s economy. With a new office in India and growing exports, the state has parlayed efforts on the international realm – particularly in Asia. The Conference of America-China Women Business Leaders in October gave a pat on the back for policy makers and business leaders responsible for the state’s current fiscal health.  

“Maryland and India are leaders in many of the same key industries,” said Aris Melissaratros, of the Maryland Department of Business and Economic Development. “Opening the Maryland India Center presents a golden opportunity for Maryland to tap into the tremendous potential for partnerships with Indian companies, as well as encourage Indian companies to take a closer look at Maryland.”

The DBED opened its 11^th foreign office in Bangalore, India, to focus on industries such as biotechnology. The department also has offices in Shanghai, Taipei and Singapore. Deputy Secretary Chris Foster continued to highlight the state’s expanding science research abroad.

“We now have physical programs in Beijing and Delhi, and there’s a John’s Hopkins Institute in Singapore,” said Chris Foster, Maryland Department of Business and Economic Development (DBED) deputy secretary. “We must take advantage of our language capabilities to do international business.”

In March, Gov. Ehrlich publicly recognized the record high number of exports in Maryland as it reached $7.1 billion, a considerable jump from $5.7 billion in 2004. The state provides exports to 200 countries, with Canada topping the list at $1.4 billion.

“In exports, we rank 32^nd in the nation, but we still have a long way to go,” Foster said.

To improve trade, the DBED plans on focusing on infrastructure services in China and India and defense-related services in Taiwan. Lockheed Martin has struck a deal to provide more aerospace technology for defense.  

On academic side, South Korea signed a partnership with Johns Hopkins University School of Medicine in September to explore adult stem cells for treatment of human disease. The join venture, led by RNL Bio Company, will establish its headquarters and research unit near the Maryland site.

“It is critical that Maryland fosters a supportive environment for companies like RNL Bio, whose work with adult stem cells offers hope to millions of Americans suffering from debilitating conditions,” Gov. Ehrlich said.

The Maryland Stem Cell Fund aims at advancing the use of adult stem cell therapies in bone, spinal cord and hepatic diseases, and the regeneration of heart tissue.

A majority of Chinese female executives and entrepreneurs attended the conference held in Bethesda, Md., participating in one-on-one mentorship workshops and panel discussions related to the theme, “New Economy, New Women, New Beginning, New Mission -- Women and Innovation.”

“(We) will give companies opportunities to form global strategic relationships,” said Jade Zhou, executive director of the conference. “It is innovative and novel because no one has successfully brought such a large delegation from China. Sharing information on the convergence of technology and events, along with understanding the global supply chain, will lead businesses to success in globalization.”

An estimated 20 million women hold business executive positions in China, making up a large portion of all Chinese companies. With that detail in mind, Zhou said she may possibly move the conference to China next year.