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
Statements and external links in this post should not be construed as an endorsement of the views or privacy policies contained therein.
Coface provides global credit insurance. For more information visit Coface.com.
External links found in this content or on World Trade Center of Greater Philadelphia (WTCGP) websites that go to other non-WTCGP websites should not be construed as an endorsement of the views or privacy policies contained therein.
Proclamation 5587 -- Made in America Month, 1986
Related Link: Facts About U.S. Manufacturing
ISA has just released the 2016 ISA Global Economic and Risk Outlook.
World Trade Center of Greater Philadelphia Members will be issued a free copy via email during the month of December 2015.
The Commercial Service at the U.S. Embassy Mexico is excited to announce a new webpage dedicated to promoting select Mexican infrastructure projects in the aviation/airports, energy & power, and water/wastewater sectors. The website can be accessed here: Mexico Infrastructure Projects. Infrastructure projects are critical to economic growth, and this effort is part of a U.S. Department of Commerce’s Infrastructure Initiative dedicated to highlighting infrastructure projects in three key economies (Mexico, India and the Philippines).
From the U.S. Bureau of Industry and Security (BIS):
BIS launched its Data Portal, which will, for the first time, make public aggregate information on licensing and export data trends. The Portal features data and analysis on Controlled Trade with Select Countries; Export Control Reform (ECR); BIS Licensing; and Exporter Compliance, which users can download in PDF and Excel format.
The Data Portal is consistent with the Secretary's goal of Data in her strategic plan to increase the efficiency, effectiveness, and security of Commerce programs through a data-driven government. The Data Portal will make it easier for businesses, communities, and citizens to access, analyze, and use Commerce data. To access the BIS data portal, visit www.bis.doc.gov/data.
The Export-Import Bank of the United States (EXIM) is the official export credit agency of the United States. It empowers U.S. companies—large and small—to turn export opportunities into real sales. WTCGP is proud to support Ex-Im as it helps grow local businesses in the Greater Philadelphia area and beyond.
If you would like a copy of this document, contact WTCGP at email@example.com or download a copy at this link.
On Tuesday December 8 at the Roadmap for Growth 2015- 2016: A Vision for the City of Philadelphia launch event, the Greater Philadelphia Chamber of Commerce released its report of findings from its Roadmap for Growth initiative, which seeks to create a shared agenda with Mayor-elect Jim Kenney, City Council and Philadelphia’s business and civic community on economic growth and job creation. The report outlines four topic areas and further questions for discussion that can serve as the basis of a shared agenda. These areas include: Building Opportunities for Business Creation and Growth, Revitalizing Neighborhood Economies, Developing a Trained and Educated Workforce and Leveraging Our Infrastructure. (via Greater Philadelphia Chamber of Commerce)
As reported by the U.S. Department of Commerce Bureau of Economic Analysis:
The U.S. monthly international trade deficit increased in October 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $42.5 billion in September (revised) to $43.9 billion in October, as exports decreased more than imports. The previously published September deficit was $40.8 billion. The goods deficit increased %2.1 billion from September to $63.1 billion in October. The services surplus increased $0.6 billion from September to $19.2 billion in October.
Exports of goods and services decreased $2.7 billion, or 1.4 percent, in October to $184.1 billion. Exports of goods decreased $3.1 billion and exports of services increased $0.4 billion.
Imports of goods and services decreased $1.3 billion, or 0.6 percent, in October to $228.0 billion. Imports of goods decreased $1.0 billion and imports of services decreased $0.2 billion.
Goods by geographic area (seasonally adjusted, Census basis)
U.S. Deputy Secretary of Commerce Bruce Andrews today announced that he will lead a healthcare trade and investment mission to Lima, Peru from March 7-9, 2016. The trade mission will help U.S. companies launch or increase their business in Peru, focusing on pharmaceutical producers, medical device manufacturers, hospital operation and management services, hospital information systems, and eHealth solutions.
“The U.S. business community can partner with Peru to provide world-class products and services to help meet the country’s growing healthcare sector,” said U.S. Deputy Commerce Secretary Bruce Andrews. “Working together, we can help Peru meet its healthcare needs while also generating economic growth, creating new jobs, and increasing prosperity for people in both the United States and Peru.”
Peru will invest $2.6 billion over the next two years to build and improve a variety of infrastructure projects, including upgrading and equipping several hospitals and healthcare centers, new equipment, blood banks, and telemedicine systems. The Peruvian government's forward approach on prioritizing and enhancing the country's healthcare system to meet Peruvian's growing demand for quality healthcare and medicine will yield opportunities for U.S. suppliers of medical equipment and devices, U.S. pharmaceutical and biotechnology companies, and U.S. healthcare IT service providers.
The healthcare trade and investment mission delegation will be composed of senior executives from 15-20 U.S. firms, representing the mission’s target sectors. Businesses interested in participating in this trade mission should complete an online application at the Peru mission website at www.export.gov/tradeamericas/trademissionperu2016.
There will be a Webinar at 1:00 pm EST today, December 10, 2015 (Registration)
The American Indonesian Chamber of Commerce posted their monthly update of Outlook Indonesia:
As a City / State partner of the Export-Import (EX-IM) Bank of the United States, the World Trade Center of Greater Philadelphia (WTCGP) is pleased to advise you that with bipartisan support from both the Senate and House of Representatives, President Obama has signed EX-IM Bank's reauthorization into law on December 4, 2015. The long-term reauthorization will be in effect until September 30, 2019. Please note below the "EX-IM Bank Reauthorization Letter to Customers And Stakeholders".
We look forward to working with Ex-Im Bank and our region's trade finance banks in supporting the financing needs of our exporters.
Linda Mysliwy Conlin, President
EX-IM Bank Reauthorization Letter to Customers and Stakeholders (via www.exim.gov)
Related Content: Previous WTCPhila.org Ex-Im Bank News
Check out World Trade Center of Greater Philadelphia's WTC Review 2015 Issue No. 3, full of WTCGP updates, member highlights, business and trade announcements, events, and special reports.
On Wednesday, December 2nd, valued World Trade Center of Greater Philadelphia leadership partner Stockton University appointed Harvey Kesselman university president. Mr. Kesselman, a Stockton alum, takes on the role permanently after previously serving as the school's provost and interim president since April 2015.
"I am excited by the opportunity to lead our wonderful university at this pivotal time," Kessselman said in a statement. "Enrollment is growing, and we are expanding our Galloway campus with two new academic buildings and a dramatic new entrance. We also are exploring a public-private partnership that would enable Stockton to expand its presence in Atlantic City and be a major part of its renaissance."
World Trade Center of Greater Philadelphia CEOs' China Operations Club explores USTDA programs for export opportunities in the ever-growing China market
On December 2nd the World Trade Center of Greater Philadelphia (WTCGP) held an engaging members roundtable discussion hosted by law firm White and Williams, LLP, with Mr. Carl B. Kress, Regional Director for East Asia, the Middle East, North Africa, Europe & Eurasia at the U.S. Trade & Development Agency. As Regional Director, Mr. Kress is responsible for developing and implementing USTDA's commercially-driven development program throughout China and other developing countries.
Mr. Kress provided an overview of USTDA's programs and how the agency supports commercial deals in China that open the Chinese market to increased exports of U.S.-manufactured goods and services. USTDA is active in a variety of sectors in China, particularly transportation, energy, healthcare and the environment. The agency's program is driven by U.S. industry interest in specific sectors that can best position U.S. goods and services and welcomes U.S. company-driven proposals and suggestions for projects and events.
The CEOs' China Operations Club December gathering further expanded on how companies could become involved in the cooperation programs, industry conferences and workshops in the U.S. and the reverse trade missions of Chinese delegations coming to the states to meet with exporters. The conversation included tapping into shale gas development in China via related workshops and study tours in the U.S., clean energy and smart city opportunities and the water treatment challenges and opportunities. Following the formal presentation there was continued roundtable discussion on the USTDA programs, but also dialogue on WTCGP member company business influencers including the recent Chinese regulations in the food and agriculture industry like market access registrations, government-to-government dealings, and how to export specific products such as biological and health-care products.
View full image gallery from this event (via Flickr)
Brazil Business News and Updates for Opportunity Seekers via TradeBRZ at the Sao Paulo, Brazil WTC Business Tower
In this month's edition of Brazil Buzz, Tradebrz discusses the future growth of Boeing in Latin America and what that growth means for Brazil's economy, as well as Brazil's influence as South America's largest economy and population.
Check out the full report below
Watch this space for WTCGP news, events, press, and more!