Source: CIA WorldFActbook.
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Hong Kong, known as a “barren rock” in mid-nineteenth century, is now the world’s eleventh largest trading economy despite its relatively small population and geographic size. Sharing a boundary with one of China’s fastest-growing manufacturing regions, the Pearl River Delta, Hong Kong’s trade platform is utilized by many local exporters who dominate the world’s supply chain for light consumer goods, garments and accessories. What’s more, partnerships with Hong Kong companies allow foreign businesses to capitalize on the local unrivalled experience of doing business in China.
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On February 26, the World Trade Center of Greater Philadelphia held its first Trade Tactics Mentoring Breakfast, which set a very high standard for the remainder of the events in the series. The seminar, entitled “Market Entry Strategies,” revolved around the difficult process of permeating into a new country for international business opportunities. The event attracted a group of both mentors, executives with vast experience in international trade, and mentees, businesspeople seeking advice on how to accomplish their goal of achieving international success.
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As the official Regional Representative for the State of Pennsylvania's Office of International Business Development in the five southeastern counties of the Commonwealth, the World Trade Center of Greater Philadelphia assists manufacturing and service firms with export development services. Served by the WTCGP and its team of international trade specialists, companies in Bucks, Chester, Delaware, Montgomery and Philadelphia Counties can now access more international markets through the recently expanded network of 23 Pennsylvania Authorized Trade Representatives.
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In 2007, New Jersey and Pennsylvania recorded double-digit growth in exports of goods, 12.8% and 10.6% respectively. As a result, New Jersey retained its ranking as the 9th largest exporting state, while Pennsylvania slipped to the 11th. The combined share of our two states increased from 6.03% of total U.S. exports in 2006 to 6.13% in 2007. The top five exporting states remained unchanged: Texas, California, New York, Washington and Illinois. Florida moved up one position to 6th, leaving Michigan behind. Ohio stayed 8th, followed by New Jersey. Louisiana, with over 29% in export growth, rounded up the top 10.
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