The Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) and the North American Free Trade Agreement (NAFTA) were the topic of the day at the bi-monthly Breakfast Around the Region held by the World Trade Center of Greater Philadelphia at the UPS Regional Air Hub facility in Philadelphia.

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With signs of a sustainable economic recovery and an improving business environment in Eastern Europe, it’s time for U.S. companies to take a closer look at business opportunities in this vast but complex market. The World Trade Center of Greater Philadelphia joins forces with WTC Belgrade (Serbia & Montenegro), WTC Bucharest (Romania) & WTC Istanbul (Turkey) to assist Pennsylvania & New Jersey companies in identifying potential buyers & partners in these emerging markets.

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The highest increases in the cost of living indices were recorded for two major Brazilian cities: Rio de Janeiro and Sao Paulo

For calculations of cost-of-living allowances, most of today’s multinational companies use cost of living indices developed by New York-based Mercer Human Resource Consulting. On June 26, 2006 Mercer published its latest “Global Cost-of-Living Survey” based on the results of the study conducted in March 2006. According to this report, companies employing people in such countries as Brazil, Russia, Singapore, South Korea, Ukraine and many others should reconsider their expatriate cost-of-living allowances to ensure that expatriate employees are fairly compensated.

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In 2005, the value of foreign investments in the U.S. at current cost equaled to $12,702.48 billion, whereas the value of U.S.-owned investments abroad at current cost amounted to $10,008.68 billion, reported the U.S. Bureau of Economic Analysis (BEA) on June 29, 2006. Thus, the U.S. net international investment position at yearend 2005 was -$2,693.80 billion.

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“Only one of the men running the five largest U.S. corporations is fluent in any language other than English,” reported USA Today in its article U.S. Firms Becoming Tongue-Tied published in February 2006. Hopefully, this situation is likely to change as a result of the National Foreign Language Assistance program. "Math, science, and foreign language skills are the new currency in our global economy,” said U.S. Secretary of Education Margaret Spellings during the press conference held on June 21, 2006 in St. Paul, Minnesota. "As our world grows more competitive, America must run faster and break new ground, just as we always have.”

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The Union League, Philadelphia, PA

The World Trade Center of Greater Philadelphia offers its members a number of valuable benefits. Throughout 2006, in each issue of WorldLinks we will explore in detail a different membership benefit.

Are you planning on inviting your U.S. or international partners for a round of negotiations? Are you hosting an important international partner for the first time? Now you can take the guesswork out of finding the best affordable accommodation for your guests. The World Trade Center of Greater Philadelphia has succeeded in securing special WTC Corporate rates for our members at the historic Union League in Philadelphia.

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GMP Products

They say: “The road to success runs uphill, so don’t expect to break any speed records.” General Machine Products, based in Trevose, PA, proves that even though records are not likely to be broken, the road to international success is a rewarding and gratifying experience.

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July 12, 2006
Visit of PA Overseas Representatives for Middle East, Turkey and Eastern Mediterranean

July 20, 2006
WTCGP Breakfast Around the Region "Business Travel Safety and Security”

More Events...

Corporate

SOSH Architects

Small Business

Techni-Tool, Inc.

Third Planet Enterprises, Inc.

Student

Marwin Martinez