From 16 – 19 November, 130,000 specialist visitors from around 120 nations came to Düsseldorf (previous year: 128,500). The portion of international visitors amounted to just over 50 percent, a strikingly large number came from the foreign markets of the USA, Latin America and especially from Iran and countries located in the Arabic-speaking regions.
Pennsylvania’s Office of International Business Development (OIBD) recently participated at the MEDICA show in Düsseldorf, Germany to help Pennsylvania companies promote their products and services. MEDICA is the world's largest trade fair for medicine and medical technology. This year, 10 PA companies--5 of which are World Trade Center of Greater Philadelphia members--and one in-state partner exhibited in the Pennsylvania pavilion. The Pennsylvania delegation included:
*World Trade Center of Greater Philadelphia Members
This year’s exhibitors estimate that over the next year they could generate more than $6 million in export sales as a result of their participation at MEDICA 2015.
Through OIBD, Pennsylvania has participated in MEDICA every year since 1990. The Pennsylvania pavilion provides an opportunity for small and medium-sized companies to exhibit at this prominent trade show without the high cost. Over the years, MEDICA has proven to be an excellent platform for promoting Pennsylvania companies and is now one of OIBD’s most successful trade shows.
World Trade Center of Greater Philadelphia News
The Pennsylvania Global Access Program (GAP) is a grant designed to enhance the capability of small to mid-sized companies to increase export sales. GAP offers up to $3,500 per year in grant assistance to qualifying Pennsylvania companies to reimburse 100% of eligible expenses associated with specific export promotion activities.
Program funding has been secured through September 29, 2016, and a company's upcoming international business trip or other export promotion activity may qualify. This program is funded in part through the U.S. Small Business Administration (SBA) State Trade and Export Promotion (STEP).
Find a contact through the Regional Export Network (REN) here or contact World Trade Center of Greater Philadelphia trade representatives directly if operating out of these counties:
Delaware, Chester, and Montgomery Counties
Ron Drozd, Manager - Export Services
Bucks and Philadelphia Counties
Dale Foote, International Trade Specialist
Pennsylvania Small Businesses can secure low-interest financing through Dec. 31, 2015:
Pennsylvania Industrial Development Authority (PIDA) program will support the continued growth of Pennsylvania small businesses that are projected to create and retain jobs and support private sector growth. PIDA approved $1.4 million in low-interest loans for four projects in Bedford, Berks, and Monroe counties, generating more than $5.8 million in total investments. Selected applicants can secure low-interest financing through Dec. 31, 2015.
PIDA assistance is provided through Certified Economic Development Organizations only. Contact your county representative or contact the PIDA Office at (717) 787-6245 for assistance.
Review Eligibility and Terms / Application Assistance (via newpa.com)
Philadelphia named as one of three U.S. emerging global logistics hubs over the next decade in recent CBRE report
PHILADELPHIA, Pa /CBRE Press Release/ - Over the next decade, 20 markets worldwide—including Philadelphia, Seattle and Miami—are set to emerge as global logistics hubs, according to a new report from CBRE Group, Inc. These emerging locations share a number of characteristics, including significant investments in infrastructure, new trade policies and agreements, and more advanced supply chains and technologies.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
Full Press Release/Source
12/21/2015 - Philadelphia Named Top Emerging Logistics Hub via Select Greater Philadelphia
11/19/2015 - The Next Global Logistics Hubs via The Wall Street Journal
06/26/2015 - Report: Pennsylvania among top five states for logistics via Central Penn Business Journal
Export Credit Insurance FAQs from Export Finance Solutions, The Official Blog of the Export-Import Bank
December 22, 2015 / Kathy Yao
Q: Is Export Credit Insurance cost-prohibitive for small businesses?
A: Depending on an exporter’s needs and risk exposure, costs may vary from $0.55 to $1.77 per every $100 of invoice value . Our most popular product Express Insurance, for example, allows the exporter to pay $0.65 per every $100 of invoice value for credit terms up to 60 days. For a shipment of $10,000 to a foreign buyer, the premium due is just $65 ($10,000 x .0065). The best way to find out the exact costs for your business is to contact an EXIM export finance specialist directly.
Click Read More for additional FAQs
The new air transport agreement replaces an existing agreement between the two countries dating back to 1960 and is the result of more than two years of negotiations led by the US Department of State with the Department of Transportation and the Department of Commerce.
According to figures reported by Reuters Mexico, the US and Mexico share 19 million passengers a year, with the US possessing a fleet of 7,500 aircraft, against 300 for Mexico.
The deal awaits approval by the Mexican Senate, but Mexico Transportation Secretary Gerardo Ruiz Esparza predictes that will come early in the new year. No such ratification is required in the U.S.
Joint Statement by Secretary Kerry and Secretary Foxx on the U.S.- Mexico Air Transport Agreement
Office of the Spokesperson
December 18, 2015
We welcome the signing this morning of a new air transport agreement between the United States and Mexico. This landmark agreement with one of our largest aviation partners will significantly increase future trade and travel between the United States and Mexico. The signing of this important agreement is the result of more than two years of negotiations led by the Department of State with the Department of Transportation and the Department of Commerce.
The new agreement will benefit U.S. and Mexican airlines, travelers, businesses, airports and localities by allowing increased market access for passenger and cargo airlines to fly between any city in Mexico and any city in the United States. Cargo carriers will now have expanded opportunities to provide service to new destinations that were not available under the current, more restrictive agreement.
This new air transport agreement further elevates and strengthens the dynamic commercial and economic relationship between the United States and Mexico and advances our goal of shared prosperity. By allowing air carriers to better meet increasing demand in both countries, the agreement will help drive economic growth in sectors beyond aviation, including tourism and manufacturing.
Following internal ratification procedures in Mexico, both governments will be in a position to bring the new agreement into force.
12/18/2015 - Mexico, US sign agreement to increase air passenger and cargo routes via Reuters Mexico
12/18/2015 - Mexico-US accord lifts airline restrictions via Mexico News Daily
As reported by Hong Kong Digest:
A new agreement on trade in services, under the framework of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), will allow business and professionals in Hong Kong to enjoy greater access to mainland China’s growing services market, effective June 2016.
CEPA is a free trade agreement concluded by the Mainland and Hong Kong. CEPA covers three areas: trade in goods, trade in services, trade and investment facilitation. CEPA has strengthened the trade relationship in goods and services, and fostered trade and investment facilitation between the two places, and are conducive to accelerating the economic integration and enhancing the long term economic and trade development of both places.
Real gross domestic product -- the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production, adjusted for price changes -- increased at an annual rate of 2.0 percent in the third quarter of 2015, according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.9 percent.
The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was 2.1 percent. With the third estimate for the third quarter, the general picture of economic growth remains the same; private inventory investment decreased more than previously estimated.
The increase in real GDP in the third quarter primarily reflected positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, state and local government spending, residential fixed investment, and exports that were partly offset by a negative contribution from private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.
The deceleration in real GDP in the third quarter primarily reflected a downturn in private inventory investment and decelerations in exports, in PCE, in nonresidential fixed investment, and in state and local government spending that were partly offset by a deceleration in imports.
Real gross domestic income (GDI), which measures the value of the production of goods and services in the United States as the costs incurred and the incomes earned in production, increased 2.7 percent in the third quarter, compared with an increase of 2.2 percent in the second. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 2.3 percent in the third quarter, compared with an increase of 3.0 percent in the second.
NOTE. Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Percent changes are calculated from unrounded data and are annualized. "Real" estimates are in chained (2009) dollars. Price indexes are chain-type measures.
This news release is available on BEA's Web site / view PDF.
The following is an excerpt of SeaLand's latest press release highlighting the details of their new Atlantico route. To read the full press release, visit SeaLand's website here.
"SeaLand, the Intra-Americas regional ocean carrier of the Maersk Group, announces a new service dedicated to trade between the Gulf of Mexico and Eastern and Central United States. The new SeaLand Atlantico service will provide weekly coverage between the ports of Veracruz and Altamira, Mexico and Philadelphia. The service features a fast 6 day transit time. From Philadelphia, Mexican shippers are able to access up to 40% of the U.S. population within only a day's drive. It is also the epicenter of some of the most robust rail networks in America. The new service will have its first sailing out of Veracruz on January 26th, 2016.
This option is especially geared for producers and exporters of perishable goods to the U.S. and provides the economies of scale, security and reliability of an ocean service combined with an expedited transit, ideal for moving goods such as avocados, lemons, tomatoes and commercial cargo."
Click here to view the SeaLand Atlantico service maps and schedules | Español
WTCGP Member Scopelitis Garvin Light Hanson & Feary Earns Prestigious Title as Top Law Firm for Client Service
The World Trade Center of Greater Philadelphia congratulates our member Scopelitis Garvin Light Hanson & Feary on their recent accomplishment earning the title as one of the nation's top 30 law firms for client service! Read the full press release below.
Follow the week's top stories related to trade and business in the region and across the globe, as determined by World Trade Center of Greater Philadelphia staff:
Pennsylvania Budget Plan
Federal Rates Increase
Russia and Turkey Tensions
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Watch this space for WTCGP news, events, press, and more!