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Panel advances bill to update California's international trade and investment strategy
Summary
The subcommittee advanced AB2745 to modernize California's international trade and investment strategy, add regional trade hubs and public advisory processes; business and civic groups testified in support and the item was reported to appropriations.
The committee voted to advance AB2745, which supporters said modernizes California's international trade and investment strategy and aims to connect local businesses to global markets through regional trade hubs and advisory bodies.
The bill's presenter said the measure updates the five-year planning process, requires consultation with a global partnership advisory body and reviews in public hearing, and authorizes designation of regional trade hubs to help local businesses access foreign markets.
Pat Fungashida, president and CEO of the California Asian Pacific Chamber of Commerce, testified the chamber represents over 722,000 Asian Pacific Islander-owned businesses and urged the subcommittee to support the bill to help California businesses "compete internationally." Kate Gordon, CEO of California Forward, said the bill's regional focus would help regions tailor strategies for aerospace, bioeconomy, battery supply chains and ag tech and attract foreign direct investment.
The committee placed the item on the consent calendar for further referral. Clerks later recorded the recommendation to pass AB2745 and to refer it to appropriations; the clerk's roll calls recorded members voting in favor where noted in the transcript.
