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give high priority to those areas during 1988.,
But despite the good economic times, Gov. Baliles warned that as yet unspecified federal budget cuts could hurt Virginia and that the state must be creative in minimizing the consequences of such reductions.
To some extent the state’s economic development will depend on the “strength and viability of [its] markets,” he said.
He spoke of the “struggle for markets” and the need for the commonwealth to “get ahead of the curve” in this internationally competitive area.
He added: “Internationalization of markets will affect us for a long time.”
Recognizing the importance of international trade, Gov. Baliles tagged 1987 “The Year of Trade” for Virginia and this year embarked on far-flung trade missions that took him and a small retinue to Japan, China and Scandanavia, among other places.
Of his plan to develop international markets for Virginia’s goods and services, the governor remarked: “The Year of Trade exceeded my expectations. I wanted people — particularly business people — to perceive their enterprises in global terms. And I think we’ve done that.”
Explaining the purpose of the missions, he said: “It’s not a question of making the trip and coming back with orders as much as laying the groundwork for the contacts that may result in the opening of markets.”
Travel and expenses for the three trips totaled $248,000, including a $24,000 trip to China and Japan in the spring, a $52,000 trip to the United Kingdom and Scandanavia in the summer, and a 17-day trip to Japan, Taiwan, Hong Kong and Korea that cost $170,000.
He said that contracts for timber sales and
92.2%