N.J.S.A. 52:27H-22 — Division of international trade; duties; director

52:27H-22. Division of international trade; duties; director There is established in the department a Division of International Trade. The Division of International Trade shall: a. Encourage and promote foreign investment in New Jersey by establishing and maintaining contact with representatives of foreign governments and businesses, and providing information on the benefits of investing in New Jersey; b. Encourage and promote the expansion and development of foreign export markets for products and services of New Jersey businesses and industries by providing information and assistance to those New Jersey companies wishing to penetrate foreign markets; c. The Division of International Trade shall be under the immediate supervision of a director, who prior to appointment shall be qualified by responsible work in economic development and international trade activities or its equivalent in training and experience. The director of such division shall be appointed by the commissioner and shall serve during the term of office of the appointing commissioner and until such time a successor is appointed. L.1981, c. 122, s. 23, eff. April 16, 1981. 52:27H-22.1. Findings, determinations The Legislature finds and determines that: a. The expansion of international trade is vital to the maintenance and continued growth of a healthy New Jersey economy; b. An increase in exports from New Jersey would benefit the State and ultimately the nation by improving the United States balance of trade; c. The State of New Jersey boasts a comprehensive and efficient transportation system, including a major international airport, an inter- and intrastate railway and extensive port facilities in both the northern and southern New Jersey regions; d. As a major northeastern industrial state, New Jersey has a skilled labor force whose members produce manufactured and agricultural goods, high technology and services, all of which are marketable to foreign consumers; e. The Legislature established the Division of International Trade in the Department of Commerce and Economic Development for the express purpose of promoting New Jersey in international commerce and encouraging firms with foreign trade potential to locate in New Jersey; f. In order to realize New Jersey's export potential and effectively promote the State in international trade, it is necessary to augment certain functions of the Division of International Trade, thus confirming it as the leading State agency in the field of international commerce, and to establish a bipartisan commission of trade experts. L. 1985, c. 160, s. 1, eff. April 26, 1985. 52:27H-22.2. Duties of Division of International Trade In addition to duties otherwise prescribed by law, the Division of International Trade shall: a. Conduct research and analysis of international markets, international business practices, specific business skills necessary to engage in international commerce and methods of stimulating reinvestment in New Jersey; b. Establish a data center which provides information on commercial opportunities in international trade, resources for technical and financial trade assistance, and employment opportunities in international business, in cooperation with the Department of Education through the State Library and various agencies involved in international trade; c. Regularly represent or assist in representing the interests of New Jersey-based firms in foreign market transactions through regularly scheduled trade delegations, missions and seminars; d. Provide New Jersey-based firms with customized technical and other needed assistance in international trade; e. Utilize sufficient funds for international travel by appropriate members of the division staff in order to promote New Jersey exports and publicize the advantages of the State of New Jersey as a location from which to engage in export trade; and f. Recruit foreign capital investment in New Jersey to be applied toward economic development and job creation. L. 1985, c. 160, s. 2, eff. April 26, 1985.

This is the verbatim text of N.J.S.A. 52:27H-22, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.