(1) There is hereby created within the office of the governor the Colorado international trade office, the head of which shall be the director of the Colorado international trade office, which office is hereby created. The director shall be assisted by an associate director and a staff assistant, which offices are hereby created.

(2) The Colorado international trade office shall:

(a) Encourage, promote, and assist in the expansion of Colorado exports, including both goods and services, to international markets;

(b) Develop the ability and resources to deal effectively with and encourage foreign investment in this state;

(c) Endeavor to attract and assist reputable international companies which are interested in establishing facilities in this state which provide jobs for Colorado residents;

(d) Utilize traditionally effective international promotion techniques which are designed to create new channels of distribution for Colorado firms which have no export market, which techniques shall include, but need not be limited to, state-sponsored international trade shows and trade missions where many companies may participate at low cost and guidance in the mechanics of exporting through major seminars, identification of target markets, export troubleshooting, and important trade leads;

(e) Review and analyze proposed international trade agreements to assess their impact on goods and services produced by Colorado businesses and the possibility that Colorado statutes could be determined to be an impermissible barrier to free trade or market access;

(f) Provide input to the office of the United States trade representative in the development of international trade, commodity, and direct investment policies and agreements that reflect the needs of the state of Colorado;

(g) Inform the general assembly about ongoing trade negotiations, trade development, and the possible impacts on Colorado's economy and laws. The director or the director's designee shall submit a report on such matters by November 1 of each year to the finance committees, or their successor committees, of the senate and house of representatives and shall make available to all members of the general assembly a copy of all materials provided to those committees by the state trade representative.

(h) Coordinate with other state and local government economic development entities.

(3) The Colorado international trade office may establish official trading relationships among the state and other international trading nations.

(4) It is the intent of this section that the cost-effective assistance given by the Colorado international trade office result in a broadened state economy with a quantifiable increase in Colorado commodities which are exported, a quantifiable increase in Colorado firms entering the international export market, a quantifiable increase in export-related jobs in Colorado, and such other measurable increases related to international trade as are the result of the efforts of said office.