Blog Archives

Recent visit by KITA and WTC Seoul highlights commercial and cultural opportunities with Philadelphia

7/28/2016

Identifying Markets with South Korea
South Korea is an important Free Trade Agreement (FTA) market for companies in the Greater Philadelphia Region. As a fellow world trade center, World Trade Center of Greater Philadelphia is particularly pleased to work with the Korea International Trade Association (KITA) and World Trade Center Seoul in identifying best strategies to grow business for the companies collectively being served and expanding overall trade and investment for the Greater Philadelphia Region.

Opportunities for Cooperation

Developing a program to connect the extensive health and health services/medical devices/life science sectors in the Greater Philadelphia Region with companies and organizations in South Korea. (This includes best strategies for connections and business matchmaking, including a potential business mission to South Korea - to align, possibly with the June visit of the Orchestra or October World Heritage Convention in Gyeongju - and encouraging companies to consider participating in medical and bio trade shows in South Korea.
Exploring collaboration and cooperation in technology – connecting with Ben Franklin Technology Partners and the University City Science Center.
September 20 -27 South Korea Mission to Washington, DC and Virginia: identifying potential meetings between area companies and trade mission participants.
Utilizing KITA’s electronic matchmaking system for the region’s importers.
Visit of Philadelphia Orchestra to Seoul June 6-9, 2017 – fostering connection among and between KITA and Philadelphia's cultural talents.
The Philadelphia Regional Port Authority (PRPA) – exploring ways in which to increase awareness of the ease of moving goods through the Port for South Korean companies (and the easy access to large East Coast metropolitan populations), building on the successful record of Hyundai and Kia imports.

Wednesday, July 27, 2016. World Trade Center of Greater Philadelphia and representatives from the Korea International Trade Association (KITA), Philadelphia Regional Port Authority (PRPA) and the Philadelphia Department of Commerce convene for an exchange on market opportunities.

Regional Numbers
New Jersey and Pennsylvania each rank in the top 12 for total U.S. exports to South Korea.
#5 New Jersey, $1.2B+
#11 Pennsylvania, $915M+
(Source: 2015 NAICS Total All Merchandise Exports to South Korea)

U.S. - Korea Free Trade Agreement
The United States and the Republic of Korea signed the United States-Korea Free Trade Agreement (KORUS FTA) on June 30, 2007. On December 3, 2010, the United States and Korea concluded new agreements, reflected in letters signed on February 10, 2011, that provide new market access and level the playing field for U.S. auto manufacturers and workers. Congress approved the agreement on October 12, 2011, and Korea’s National Assembly approved it on November 22, 2011. The United States and Korea completed their review of the measures both sides had taken to implement the FTA and exchanged diplomatic notes on February 21 agreeing to bring the agreement into force on March 15, 2012. Full Background (via ustr.gov)

2016 China International Fair for Investment & Trade

7/28/2016

Join World Trade Centers Association (WTCA) as they welcome all World Trade Centers and members to its 2016 Access China program, a core component of participation in the 2016 China International Fair for Investment and Trade (CIFIT). CIFIT is the top Chinese international investment and trade facilitation platform, taking place in Xiamen on September 8-11, 2016.

WHY YOU SHOULD ATTEND

Promote your projects, products and services in the top international investment and trade exposition in China
Explore business opportunities through post-CIFIT visit to Chinese cities with the assistance of local WTC
Create leads and contacts through matchmaking sessions, meetings and networking events
Learn the latest Chinese market and investment intelligence through seminars, forums, briefings in CIFIT and onsite tour through visit to Chinese cities

CIFIT BY THE NUMBERS

Senior government officials from central, provincial and 300 city governments in China.
Over 15,000 overseas visitors (mainly companies/investors) from 650 trade missions from 105 countries and regions.
16,000 matchmaking sessions on nearly 9,000 projects.
1,500 exhibitors with the total exhibition area of over 1 million square feet.
Over 300 domestic and international media organizations and over 1500 reporters.

The deadline for registration is Friday, August 5, 2016.

Click here for additional information or contact World Trade Center of Greater Philadelphia at 215-586-4240.

VideoRay makes public $1M award by Indian Navy

7/28/2016

Customized Mission Specialist Systems to be used to underwater security teams
VideoRay announced a contract was awarded in the first quarter of 2016 with the Indian Navy. This contract was the result of a highly competitive procurement process for a fully upgradable Military Configured Remote Operated Vehicle (ROV) to the Indian Navy to meet the requirements of underwater inspection and repairs, underwater bottom surveys, hydrographic reconnaissance, and the defense of Indian Navy maritime assets, as well as conduct underwater victim rescue and recovery, defend territorial seas, deter underwater swimmer intrusive or aggressive acts, conduct maritime Intelligence, Surveillance, Reconnaissance (ISR), and ensure safe rite of passage and protection of maritime assets. The vehicles VideoRay will provide represent state of the art for these tasks, and will be based on VideoRay's new Mission Specialist platforms.

EXIM Bank Quarter in Review - Summer 2016

7/27/2016

Export-Import Bank of the United States sent this bulletin at 07/21/2016 10:30 AM EST

Message from the Chairman Fred P. Hochberg:

At the end of June—amid continued global market uncertainty and Brexit--EXIM Bank released its annual Competitiveness Report. Mandated by Congress, the 2015 report illustrates the global competitive landscape of government-supported export finance, and places EXIM’s performance in a global context.

This year, the report reveals that EXIM medium- and long-term financing for American exporters declined more than 50 percent. This was largely due to the lapse in authority that EXIM experienced from June 30-December 4, 2015.

Today, with global competition increasing and growth rates slowing, the report found that there was a slight decline in overall export credit support by governments. The response: EXIM’s competitors became more and more versatile and aggressive in support of their exporters, while EXIM support for American exporters declined, largely due to the lapse.

In the first three quarters of this year, EXIM authorized more than $4 billion in financing that supported American exports and more than 37,000 jobs that depend on them. . .

Read More (via EXIM Bank)

World Trade Center of Greater Philadelphia is an EXIM Regional Export Promotion Program Partner

Next Export Finance Workshop: October 27, 2016 - MIDJersey Chamber of Commerce
Check back for workshop details here.

USTDA Trade Leads

7/27/2016

Trade Leads from the U.S. Trade and Development Agency

Ethiopian Procurement of Reach Stackers
The Ethiopian Shipping and Logistics Service Enterprise (ESLSE), representing the Government of the Federal Democratic Republic of Ethiopia, released an international tender for the procurement of eight reach stacker machines and related services. ESLSE provides coastal and international marine transport services between the port of Djibouti and ports throughout the Gulf, the Indian sub-continent and Asia. ESLSE also offers other shipping, logistics and dry port services in Ethiopia.

Proposal Deadline: July 28, 2016
Click Here for More Info

Brazil: Metro-DF Data Transmission System Modernization

Brazil's Metro Company of the Federal District of Brasilia (Companhia do Metropolitano do Distrito Federal - 'Metrô-DF') has announced the reopening of a tender for the provision of equipment to support modernizing the data transmission system of Line 1 of the Federal District Metro. This tender will also include assembly and installation.

Proposal Deadline: August 4, 2016
Click Here for More Info

Mexico: International Competitive Tender: Shared Network (Red Compartida) for Telecommunications Services
The Government of Mexico, through the Ministry of Communications and Transportation (SCT), has published an international competitive tender for the design, installation, operation and commercialization of a nationwide 4G mobile wholesale Shared Network (Red Compartida).

Proposal Deadline: August 8, 2016
Click Here for More Info

South Africa: Global Logistics Service Provider for Container Terminal Project
Transnet, a South African state-owned freight logistics company, recently issued a request for proposals for the design, financing, construction, operation, maintenance and eventual handover of an inland container terminal in Tambo-Springs. The objective of the project is to migrate rail-friendly cargo off the country's road network.

Proposal Deadline: September 30, 2016
Click Here for More Info

View TradePosts Issue: July 25, 2016

WTC Philadelphia Member Bradford White featured in Engineered Systems

7/26/2016

Bradford White has been a member of the WTCGP since 2013. During that time, the company has expanded into new international markets. Most recently, the WTCGP has facilitated meetings with trade representatives, investigated certification requirements, and vetted distribution companies in Asia and the Middle-East on Bradford White’s behalf.

“Working with Bradford White has always been a true partnership,” said Ron Drozd, WTCGP manager of export services. “The Bradford White message of American made and more American jobs is in perfect step with the WTCGP’s mission to increase exports, create jobs, and build a stronger America. They are a tremendous example of how to access international markets and are making a positive impact in the global marketplace.”

Read more at www.esmagazine.com

Philadelphia Regional Port Authority Board Selects New Chief Executive Officer

7/21/2016

News From The Philadelphia Regional Port Authority

Former San Francisco Ports America President and CEO to Assume PRPA Duties Late Summer

PHILADELPHIA, Pa - The Philadelphia Regional Port Authority Board of Directors is pleased to announce that it has selected global transportation executive Jeff Theobald as PRPA’s new Chief Executive Officer. Mr. Theobald, most recently the President and CEO for Ports America Outer Harbor Terminal, LLC, replaces James T. McDermott, Jr., who retired from PRPA in April. Mr. Theobald is expected to assume his new duties in August.

“After a comprehensive national search, conducted by Boyden Global Executive Search and led by Tim McNamara, head of the firm’s global transportation practice, we are delighted to welcome Jeff as our Chief Executive Officer,” said Gerard H. Sweeney, Chairman of PRPA. “Jeff Theobald is a seasoned maritime industry executive with a proven track record. He has extensive expertise in terminal operations, international supply chains, strategic planning, contract negotiations, and financial control and will prove invaluable in overseeing port growth plans. He has excellent strategic vision and is joining at the right time, as so many projects and initiatives at the Port of Philadelphia are coming to fruition.”

As president and CEO for Ports America Outer Harbor, Mr. Theobald was responsible for a 200-acre container terminal facility in the San Francisco area, which included oversight of 50 management staff and over 200 union employees. He was responsible for all management functions, including operations, finance, planning, cost improvement, labor, customer relations, health, safety, environment, and contract negotiations. He designed strategic plans for both the commercial account and capital investment sides of the business.

Prior to his time at Ports America, Mr. Theobald held several senior level maritime industry positions over the course of his career, most notably as a senior executive for ocean carrier APL, LTD, where he started in port terminal management and ultimately rose to the rank of Senior Vice President of Global Operations, Networks and Terminals. During the course of his career at APL, Mr. Theobald held senior positions in North America as well as several Asian locations. As Senior Vice President, Mr. Theobald was integral to all aspects of APL’s worldwide operations, including negotiations with port authorities, terminal operators, railroads, and labor; port investments; establishment of worldwide shipping routes; oversight of all operational functions; and direct management of over 150 employees.

Between his time at APL and Ports America, Mr. Theobald also spent time as a successful maritime and Transportation consultant, advising clients such as McKinsey Consulting, Port of Seattle, and the global terminal operator DP World.

Pennsylvania Governor Tom Wolf was also pleased with the selection of Mr. Theobald by PRPA’s Board. “My administration is extremely committed to the success of the Port of Philadelphia, one of the major economic engines of both the Philadelphia area and Pennsylvania as a whole,” Governor Wolf said. “This is a critical time for the Port, with bold initiatives like our Southport Development Project and the Delaware River Channel-Deepening Project either nearing completion or hitting their stride, and in Jeff Theobald we will have a strong, experienced guiding hand to assist our board in assuring that these and other projects are successfully completed and, more importantly, deliver maximum benefits to the people of Pennsylvania.”

Jeff Theobald

“I look forward to doing everything I can to assure that the Port meets the challenges of the future and fulfills its great potential.”

Mr. Theobald echoed the enthusiasm of Governor Wolf and Chairman Sweeney. “I am delighted that the PRPA Board asked me to join the team at this very exciting time for the Port of Philadelphia, said Mr. Theobald. “I look forward to doing everything I can to assure that the Port meets the challenges of the future and fulfills its great potential.”

PRPA will provide further updates as Mr. Theobald assumes his duties at PRPA later this summer.

The Philadelphia Regional Port Authority (PRPA) is an independent agency of the Commonwealth of Pennsylvania charged with the management, maintenance, marketing and promotion of publicly owned port facilities along the Delaware River in Philadelphia, as well as strategic planning throughout the port district. PRPA works with its terminal operators to modernize, expand, and improve its facilities, and to market those facilities to prospective port users. Port cargoes and the activities they generate are responsible for thousands of direct and indirect jobs in the Philadelphia area and throughout Pennsylvania.

For more information, contact:
Philadelphia Regional Port Authority
Director of Communications Joseph Menta
Office: (215) 426-2600
E-mail: jpmenta@philaport.com

Export Spotlight: Korea-U.S. Free Trade Agreement

7/12/2016

As reported by U.S. Korea Connect:

From U.S. Korea Connect Over the past few years, leisure activities such as boating, camping and hiking have gained in popularity in Korea. Prior to the KORUS FTA, U.S. motorboats and yachts had 8% tariffs in Korea. As the KORUS FTA came into effect in 2012, most tariffs were immediately eliminated or were phased out within three years time. Thanks to the KORUS FTA, U.S. motorboat exports to Korea have increased 63.4% in 2015 from 2011. U.S. yacht exports to Korea have seen a 59.6% increase in 2015 over 2011 exports. In addition, the export of boating related products such as life jackets and sails have also seen a remarkable increase, growing 356.7% and 171.5% respectively between 2011 and 2015... view U.S. Korea Connect 2016 Newsletter Issue 6

U.S. International Trade in Goods and Services May 2016

7/7/2016

From the U.S. Department of Commerce Office of Public Affairs

U.S. exports of goods and services decreased slightly to $182.4B in May from $182.7B in April. New monthly export records were established in Telecommunications, Computer, and Information services -- $3.1B -- and in Insurance Services -- $1.5B

U.S. Secretary of Commerce Penny Pritzker issued the following statement on the release of the May 2016 U.S. International Trade in Goods and Services monthly data. U.S. exports of goods and services decreased slightly to $182.4 billion in May from $182.7 billion in April. New monthly export records were established in Telecommunications, Computer, and Information services -- $3.1 billion – and in Insurance Services -- $1.5 billion. Year-to-date, the trade deficit has improved 3.5 percent or $7.2 billion. The goods trade deficit year-to-date has improved with China (7.3 percent) and the European Union (5.4 percent) during that period.

"Today’s data show that American businesses continue to seek opportunities to market their world-class products and services to the more than 95 percent of consumers that live outside U.S. borders,” said Secretary Pritzker. “Our companies are battling the same economic headwinds facing businesses around the globe. The Department of Commerce is committed to ensuring U.S. companies gain access to international markets and compete on a level playing field. Trade agreements like the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership are important tools to strengthen our economy by supporting the competitiveness of American workers and the ability of our businesses to trade on equal footing.”

The Trans-Pacific Partnership (TPP) is a transformational 21st-century trade agreement with 11 other countries bordering the Pacific, home to some of the fastest-growing markets in the world. Combined, the current TPP members represent nearly 40 percent of the global GDP. TPP levels the playing field for American workers and American businesses, supporting more Made-in-America exports and higher paying American jobs. A report by the Peterson Institute for International Economics shows that if TPP is delayed by just one year, the United States will see an estimated one-time national loss of $94 billion. That translates to a loss of $700 on average for every U.S. household.

The TPP will foster the type of economic integration that currently enhances trade with our free trade agreement (FTA) partners. Since 2009, U.S. goods exports to FTA partners have grown faster (52 percent) than our exports to the rest of the world (34 percent).

The Transatlantic Trade and Investment Partnership (TTIP) will be an ambitious, comprehensive, and high-standard trade and investment agreement between the United States and the European Union (EU) that offers significant benefits for U.S. companies and workers through eliminating existing trade barriers and better enabling U.S. companies and workers to compete.

News

Recent visit by KITA and WTC Seoul highlights commercial and cultural opportunities with Philadelphia

2016 China International Fair for Investment & Trade

VideoRay makes public $1M award by Indian Navy

EXIM Bank Quarter in Review - Summer 2016

USTDA Trade Leads

WTC Philadelphia Member Bradford White featured in Engineered Systems

Philadelphia Regional Port Authority Board Selects New Chief Executive Officer

Export Spotlight: Korea-U.S. Free Trade Agreement

U.S. International Trade in Goods and Services May 2016

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