In fact, China is so interested in our biomedical and information technology, we will be looking for opportunities to develop more technical tours to Minnesota. China represents HUGE potential. It is now the state's third largest export destination, up from fifth place in 1998, and all the way up from 11th in 1990. China is the second largest market for medical devices in Asia, and it's expected to grow by 10 percent over the next three years. Eighty percent of Minnesota's exports to China are related to high-tech products.
China has a gross domestic product of more than one trillion dollars.
I've learned a lot about the value of trade missions since going to Japan, Canada, and Mexico. Our missions have allowed deals to be done. In Japan, Ellison Meat Company from Pipestone signed a deal that helped them cement a relationship in Japan for what we hope will be a long time to come. And THAT's why we're going to China. We're going to forge NEW relationships and strengthen the connections we already have - culturally and educationally.