Country brands influence trade agreements
Country brands are a twenty year old marketing trend for countries seeking to increase tourism, foreign investments and encourage foreign procurement to increase exports. This hit trend is moving like a wave over countries like Costa Rica, Switzerland, Mexico, etc.. For example, three years ago, Costa Rica implemented a brand image to expand the vision of Costa Rica as more than great beaches and green, lush forests but as producers of preen products and excellent qualities and educate the works The strategic use of branding as a nation supports mid to large sized companies by promoting local goods and services. Organizations that qualify for the use of the Esencial Costa Rica have successfully completed a rigorous application process with a promise to maintain the quality and standards required by the governing body. This brand recognition can dramatically impact an international perception of economic, political and social status of the country in question.
Countries that brand are more likely to increase foreign investors, consumers, businesses, tourists and exports. Trade agreements are crucial to sustaining the growth and development in modern economies. Stakeholders are considered while negotiating for trade agreements, like my personal favorite the environment, as well as, consumers, labor, and business. Country branding is critical in negotiating said trade agreements because it provides leverage for the country that is attempting to increase exports and ultimately profits. Treaties that are put in place are mandated to profit both parties. The US and CAFTA-DE have been developing in the following ways, labor, manufacturing and opportunity for growth.
Ultimately, branding ones country is imperative to successfully negotiate trade agreements that will benefit both parties entering the treaty. Lets say, Louisiana wanted to brand their state to boost their economy through domestic tourism as well as foreign tourism, business growth and investment, they would need to perform market research to find all the attractive reasons that tourists, businesses and investors would consider Louisiana. Though the music and food might change from one city to the next, the fun-filled lifestyle of Louisiana people is consistent. Louisiana is ready to embrace you the minute you set foot in the state. The plentiful land available to growing businesses is appealing to growing organizations looking for operations that are centrally located in he United States. Louisiana is the most friendly and welcoming state. Louisiana, "Welcome home!"