On July 23rd, the World Trade Center of Greater Philadelphia will host its Members Appreciation Reception at the Water Works Restaurant from 6:00pm to 8:00pm. The restaurant, known for its world-class cuisine, is located in the national historic landmark, Fairmount Water Works - an architectural marvel and point of pride for the city of Philadelphia. At the reception, member companies will have the opportunity to meet the WTCGP’s new president, Linda Mysliwy Conlin, and network with other members, the Board of Directors, and the Advisory Council.
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On Tuesday, June 9th, members of the World Trade Center of Greater Philadelphia participated in a private reception and luncheon briefing with H.E. Houda Ezra Nonoo, Ambassador of the Kingdom of Bahrain to the United States. The event, which was co-sponsored by the WTCGP and the Global Interdependence Center, focused on the US-Bahrain Free Trade Agreement that was signed in 2004 and Bahrain’s position as a finance center in the Gulf region.
Ambassador Nonoo presented on the opportunities in Bahrain and the country’s long-term goal of economic diversification to reduce its dependence on oil revenue. She highlighted both the financial and alternative energy industries as key sectors for U.S. companies and emphasized the favorable business and investment climate that allows foreign companies to establish regional offices, distribution centers and manufacturing operations in country. The Ambassador also emphasized the availability of a skilled workforce in Bahrain.
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On Friday, June 12th, the Philadelphia Regional Port Authority (PRPA) and the Panama Canal Authority (ACP) signed a Memorandum of Understanding with the intention of increasing direct shipping traffic between Asia and Philadelphia through the Panama Canal. This agreement demonstrates both regions’ commitment to advancing international trade.
The MOU, which was signed by PRPA Board Chairman John H. Estey and Panama Canal Administrator/CEO Alberto Alemán Zubieta, aims to prepare the two prominent authorities for the predicted rise in global trade. The PRPA and ACP also plan to actively communicate marketing, research, and employee training methods as part of this partnership. Currently, Philadelphia is often overlooked by many container ships coming from Asia because of the port’s channel depth. However, proposals are underway to better accommodate these larger vessels and increase container shipments by expanding the port’s depth from 40 feet to 45 feet.
Additionally, over the next five to seven years, the PRPA is preparing to construct a new terminal at the former Philadelphia Navy Yard that would be large enough to accommodate larger ships. Entitled Southport, this facility would be able to receive ships built to the maximum dimensions of those allowed through the Panama Canal.
The agreement spans a two year period, at which time it will be re-examined for renewal.
*Information from: Leach, P. Philadelphia, Panama to Build Traffic. The Journal of Commerce Online - News Story. June 15, 2009.
The Commonwealth of Pennsylvania’s Center for Trade Development (CTD) has scheduled a number of trade missions and trade shows for 2009 to increase international business opportunities for Pennsylvania companies. Strategically chosen to coincide with prominent export industries, these missions and shows present great opportunities for Pennsylvania companies to explore new markets for their products and services and develop contacts around the world. As the Regional Export Network (REN) representative for Southeast Pennsylvania, the WTCGP actively supports and promotes trade missions and shows sponsored by CTD.
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