Anyone in business today knows—almost intuitively—that all business takes place in a global economy.  Where components or services are sourced, where an end-user market is emerging, where competition is selling or investing are the types of considerations that figure into the growth strategies of companies of all sizes.

The WTCGP is a membership organization dedicated to helping our companies and the region grow in this global economy.  We do this by offering programs and services that meet the needs of the area’s international business community.  And, like any other business, innovation and constant vigilance in identifying markets of opportunity are keys to our own growth.

In addition to stalwart programs such as one-on-one counseling, market research, trade missions, and seminars, we are developing new and exciting initiatives in Export Trade Financing and Green Technology.  We are also developing a brand new market-specific program for India that is similar to our long-standing efforts in Latin America and China.

We know that timely country and market information is critical. To that end, we are now sending our members The Global Update, published by International Strategic Analysis (ISA).  This weekly briefing provides a bulleted overview of the world’s political and economic news region by region. 

Finally, we are pleased to send you this, our new streamlined monthly newsletter.  We have a renewed focus on quality and content to provide you with the information you need to stay informed on global issues and news, in addition to making you aware of relevant local seminars and networking events. We will also profile our strategic partners and highlight our “Member of the Month”. 

Our goal is to embrace a spirit of continual self-assessment and improvement.  We need to hear from you on the things that you think work and on those that don’t.  Thank you for your shared commitment to the economic well-being of the Greater Philadelphia region.

Linda Mysliwy Conlin

President

PRESS RELEASE

Issued July 10, 2009

Washington, D.C. - The U.S. Department of Commerce today released data on U.S. international trade in goods and services through May 2009. The report indicated that the U.S. goods and services trade deficit fell to $26 billion in May, its lowest level in a decade. Exports of goods and services rose by 1.6% from April to May, however, for the first five months of 2009 remain nearly 19% lower than in the corresponding period of 2008. This decline reflects reduced demand in foreign markets for U.S. products, due to the global recession. The decline in U.S. imports, at over 28% for this year's first five months, was even greater than the drop in exports. The import decrease reflects both recession in the U.S. economy and sharply lower petroleum import prices so far this year, compared to last. The goods and services trade deficit through May 2009, on a balance-of-payments basis, has been cut slightly more than in half, compared to the first 5 months of 2008.

United States Trade Representative Ron Kirk issued the following statement on today's report:

"In the midst of financial uncertainty, it is critical that we increase exports of American goods and services to the world, which would help create more jobs for the American people.

"At this week's G8 Summit, President Obama and fellow world leaders have reaffirmed their commitment to keep global trade flowing and to reject protectionist policies.

"Under President Obama's leadership, [the office of the U.S. Trade Representative] is working to open new markets to American goods and services, and to ensure that our trading partners play by the rules. We will also work to fulfill President Obama's commitment to reach a successful conclusion of the Doha Development Agenda."

Source: Office of the United States Trade Representative.  June 10, 2009.

According to the most recent Business Outlook Survey by the Federal Reserve Bank of Philadelphia, declines in the region’s manufacturing sector continued throughout the month of July.  Current indicators suggest persistent weakness in market conditions, with the majority of firms polled reporting decreases in activity, increases in employment losses and declines in work hours.  However, the unemployment rates for Pennsylvania, New Jersey, and Delaware remain above the national average. 

*Year-over-year change. Source: Bureau of Labor Statistics

While only 28 percent of firms verified that they normally have seasonal plant shutdowns or slowdowns during the summer, nearly one-half (49 percent) of responding firms noted they would schedule such slowdowns this year.  Moreover, 62 percent and 49 percent of these firms revealed that they anticipate greater than usual decreases in production during July and August, respectively. 

Firms reported less widespread declines in input prices again this month.  Fifteen percent of firms reported cost decreases, and eleven percent reported increases.  However, declines dominate in selling prices for the manufacturers’ own goods:  over 25 percent reported selling price declines, while only four percent reported increases.

Encouraging to note, future indicators, including the general activity index, remained positive this month, suggesting firms are expecting improved conditions in the second half of this year.  According to the poll, companies also anticipate improvements in the labor market.  Firms expecting employment increases over the next six months (22 percent) exceeded the percentage expecting declines (9 percent) for the third consecutive month. 

Source:  Federal Reserve Bank of Philadelphia. July 2009 Business Outlook Survey. July 2009.

On August 1st, the Greater Philadelphia Chamber of Commerce officially welcomed Senator Rob Wonderling as its new president and chief executive officer.  In his new position, Sen. Wonderling will serve as an ex-officio member of the WTCGP’s Board of Directors.  With a distinguished career in both the public service and private sectors, he is committed to promoting economic development and job creation in the Greater Philadelphia region. 

Previously, Sen. Wonderling served as Tom Ridge’s Deputy Secretary of Transportation and was charged with improving the operations and efficiencies of PennDOT’s highway maintenance workforce.  His Senate committee assignments led him to serve as Chairman of the Transportation Committee and member of the Game and Fisheries Committee, the Community and Economic Development Committee, the Public Health and Welfare Committee, the Veterans Affairs and Emergency Preparedness Committee, and the Rules and Executive Nominations Committee.  Additionally, he is the co-chair for the Pennsylvania Commission for Community Colleges and the Life Science Caucus, which addresses policy issues important to the biotechnology and life science industry, two prominent industry sectors in the Greater Philadelphia region.

According to the Chamber’s website, Chamber Board Chairman David L. Cohen, executive vice president of Comcast Corporation, said, “Rob has an outstanding background that is a perfect match for this position.  He is passionate about regional economic development, especially on the importance of transportation and infrastructure. He has experience working in the private sector as well as in public service.   Rob will be a great champion of and spokesman for the business community. He understands that the Greater Philadelphia region is competing successfully in the global marketplace. He has a great understanding of our history and a vision to strengthen our assets in an increasingly competitive marketplace.”

Prior to his time in the Senate, Sen. Wonderling worked for Bentley Systems, Inc. in Exton and Air Products and Chemicals, Inc., in Allentown.

Sen. Wonderling holds a Bachelor of Arts degree from Allegheny College and a Master’s degree in Government Administration from the University of Pennsylvania.  He also attended the program for Senior Executives in State Government at Harvard University.

“Member of the Month” is a new feature of the WTCGP newsletter.   In each edition of our newsletter, we will highlight a different Corporate level (or higher) member to discuss their business, international plans and partnership with the WTCGP.  Our inaugural “member of the month” is VideoRay LLC.

VideoRay, a Phoenixville, PA company in Chester County, was established in 1999 by Scott Bentley.  Bentley came into contact with a group of scuba divers while he was on a skydiving expedition in the North Pole.  One diver suggested that he start a company to develop and market a device that would allow them to explore underwater areas that the then current submersibles were too large to access.  “It [the foundation of VideoRay] was really just a suggestion of a new business opportunity – to build a remotely operated vehicle (ROV) that can be sent into underwater locations that its owners cannot reach, or in layman’s terms, an underwater robot,” said Mr. Bentley.  Today, the company has a staff of 35 employees and a global network of 42 dealers.  With a one-size submersible platform, the company offers a variety of product configurations and accessories appealing to a wide range of end-users.  This business model has helped to place VideoRay’s ROV on every continent, with a range of applications that include potable water tank and off shore oil rig inspection, dams in India and aquaculture nets in Norway.  VideoRay products are also sold with Bertram Yachts.  VideoRay is the only four kilogram ROV in the world.      

Chris Gibson, director of Sales and Marketing, commented, “The WTCGP has helped us to find dealers, either in other regions or working in the same markets [as current dealers] where we have weaker market segment growth.  The WTCGP performs background checks and gives us a list of three to five, or in some countries up to seven, companies to make contact with.  They help bring the interview process along.  The WTCGP helps us focus on other countries with more underwater opportunities and stay aware of regulations that could affect our business.”  For example, recent legislation in Norway mandates regular inspections of aquaculture net waste.  “I encourage people to try [international business], especially if they have a product that is particularly unique. Find people you trust and listen to them.”

Read full article

The World Trade Centers Association (WTCA) will host its 12th annual Latin American Forum from September 9th-12th in Panama City, Panama.  The four day program brings together World Trade Center directors from around the globe to discuss business opportunities in the region.  A WTCGP representative will be at the forum to learn more about business prospects for companies in the Greater Philadelphia region. 

For more information, please contact Andrea Townrow, manager of Business Development at 215-586-4242 or atownrow@wtcphila.org.

On Thursday, July 23rd, the WTCGP hosted its second annual Members Appreciation Reception at the historic Water Works Restaurant in Philadelphia.  Linda Mysliwy Conlin, WTCGP president, welcomed 98 members and strategic partners for an evening of networking and celebration.

The reception was held as a thank you to members and partners for their continued support and to recognize the WTCGP’s accomplishments.  The event was a chance for member companies to share their international experiences with each other and discuss the benefits they receive from their membership.  Attendees had the opportunity to meet with WTCGP staff, members of the WTCGP’s Board of Directors and advisory council, and other members of the WTCGP and international business community.

During the event, Ms. Conlin pledged her commitment to the continuation and expansion of WTCGP’s programs and services that respond to the needs of all members.  With this in mind, she announced a new series of Export Finance workshops beginning this fall.  Organized in collaboration with the Export-Import Bank of the United States, and leading lending institutions, these workshops will provide exporters with financing tools to access working capital, protect against buyer non-payment and to offer competitive financing terms to prospective buyers. 

Over the past year, the WTCGP assisted more than 400 companies from Pennsylvania and New Jersey with one-on-one trade counseling, trade missions, market research, educational programs and peer group networking.  The organization’s efforts helped to yield nearly $73 million in incremental export sales for these businesses. 

The WTCGP would like to extend a special thank you to the evening’s sponsors: Burt, Hill; Pennoni Associates; and Wheatley US Limited.

Pennsylvania International Week

Meet with in-country representatives from top international markets, including: Australia/New Zealand, Brazil, Canada, Chile, China, Czech Republic, France, Germany, India, Israel, Japan, Korea, Mexico, Netherlands, Russia, Saudi Arabia, Singapore, South Africa, Spain, Taiwan, United Arab Emirates, United Kingdom, and Vietnam.

On Wednesday, September 16th, in Plymouth Meeting, and Thursday, September 17th, in Philadelphia, the Pennsylvania Authorized Trade Representatives who cover these countries (and many more) will visit the Greater Philadelphia region to meet one-on-one with local companies to discuss best export opportunities in their respective international markets.  One-on-one appointments are open to qualified export ready companies in Pennsylvania and are limited to three appointments per company, schedule permitting.

To learn more about this event please visit our website.  To schedule your one-on-one appointments, please contact your International Trade Specialist:

Ron Drozd at rdrozd@wtcphila.org or 215-586-4240 (ext. 122) for Chester, Delaware and Montgomery counties.

Dale Foote at dfoote@wtcphila.org or 215-586-4240 (ext. 117) for Bucks and Philadelphia counties.

Philadelphia International Showcase

Join the WTCGP on Thursday, September 17th,at the Wachovia Bank, Main Lobby, 123 Broad Street, from 5:30 – 7:30 p.m. for the 2009 Philadelphia International Showcase as we recognize The Philadelphia Business Journal's Top 25 Foreign-owned Companies and celebrate the global competitiveness of the Greater Philadelphia region!

Enjoy an evening of powerful networking at one of the region's premier international business events. Tap into market opportunities and insight from Pennsylvania's visiting Authorized Trade Representatives (ATRs) and expand valuable contacts with local government and business leaders, as well as members of the consular corps.

Special guests for this year's event include:

• Hugh C. Long, II, Wachovia Bank
• Bernard Dagenais, editor, Philadelphia Business Journal

For more information or to learn about sponsorship opportunities, please visit our website or contact Emily Olson at 215-586-4247 or eolson@wtcphila.org

SPONSORS:
Global Traveler Magazine
Wachovia Bank

December 8-11, 2009           

India (Mumbai, Bengaluru)

September 7-9, 2009

Chile's 4th International Conference on Renewable Energy & Clean Development Mechanisms

September 8-11, 2009     

DSEi (London) – Defense and Security

September 26-30, 2009        

INTERMOB (Istanbul, Turkey) – Hardwoods/Construction

October 10-14, 2009              

Anuga (Berlin, Germany) – Food and Beverage

October 21-24, 2009

Green Taiwan - Green Technology and Renewable Energy

November 18-21, 2009         

MEDICA (Dusseldorf, Germany) – Healthcare and Sciences

Start enjoying the benefits of WTCGP membership today.

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September 16-17, 2009 - Pennsylvania International Week

September 17, 2009 - Philadelphia International Showcase

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