TradePort Forms Strategic Alliance with CrimsonLogic, the Leaders in 'Single Window' Trade Facilitation
By MBITA president Tony Livoti
The Monterey Bay International Trade Association (MBITA) and the TradePort network have formed a strategic alliance with CrimsonLogic and their new GeTS 'single window' trade facilitation online service starting with a series of webinars to the global trade business community in California.
The logistic challenges that custom brokers, freight forwarders and small and mid-sized enterprises (SMEs) face to consummate a successful global trade transaction are at the forefront in the current, disruptive, evolution of online, on-demand trade facilitation (TF) global trade logistic services. The current trend and eminent future of TF will be funneled through the 'Single Window' where the transmission of one document online generates all shipment documentation (eDocs) in a standard digital format compatible in all foreign markets.
Just as other industries have been disrupted by new online technologies, this metamorphosis of how we traditionally conduct business in the logistic sector of global trade is rapidly changing. Organizations such as the United Nations Center for Trade Facilitation and Electronic Business (UN/CEFACTT) and the World Customs Organization (WCO), among many other global organizations, now have active programs that focus on the general benefits and technical advantages of 'paperless trade' through the 'Single Window'(SW).
This global SW initiative is now being led by countries like Singapore, Korea, Japan and Taiwan with a late arrival from the largest marketplace in the world. On February of 2014 President Obama initiated an Executive Order to streamline the export/import process for American business. This initiative directs the many U.S. federal agencies involved in import and export documentation to be SW compatible through the Automated Commercial Environment (ACE) system by the end of 2016.
The SW adoption that is now occurring throughout the global marketplace will not only make businesses more competitive, cost-effective and efficient but it will also provide much more security to the global supply chain infrastructure. These changes of how we utilize new methods in global trade logistics is a major endeavor and will take years to get to the point where it's common practice throughout the global marketplace, but today, there are online SW services that American businesses can utilize for their business operations.
MBITA and the TradePort.org network in California have formed a strategic alliance with the world leader in TF solutions - CrimsonLogic. Its subsidiary, Global eTrade Services (GeTS) has been chartered to accelerate global trade through worldwide connectivity. GeTS works like a global 'Single Window' by offering a comprehensive suite of online, on-demand TF services that helps exporters and importers meet the regulatory and compliance requirements for countries around the world.
MBITA and the TradePort.org network will be offering a series of complimentary webinars with GeTS this Fall. Please click HERE to see the webinar schedule. You can also sign up for a free trial HERE.
The Monterey Bay Hosts the World's Marine Science Community
From September 19th to the 23rd the Monterey Bay was host to thousands of visitors from around the world representing companies, technologies and services all involved in some aspect of the dynamic marine science industry. The 4 day conference featured hundreds of exhibit booths, special Town Halls on a variety of topics as well as featured tours, golf excursions and gala events.
MBITA in partnership with the Integrated Ocean Observing System (IOOS), a division of the National Oceanic and Atmospheric Administration (NOAA) under the Department of Commerce, co-hosted a special Town Hall conference at Oceans 16 called 'The Blue Silicon Valley Emerges from the Serengeti of the Sea'.
The Monterey Bay of California is now embracing a new name, the 'Blue Silicon Valley' which aptly describes the world's leading sustainable, marine science research and development region and where 30 different marine science organizations work on the cutting edge solutions to the challenges our oceans face today.
This 90-minute Town Hall featured public and private sector marine science executives and business leaders offering their perspectives on how the rich, marine science R & D community of the Monterey Bay region can now commercialize some of its breakthroughs to strike a balance between economic growth and responsible stewardship for our oceans on a national and international level.
MBITA made a presentation on how America's Blue Silicon Valley can promote bilateral trade and investment with China's Blue Silicon Valley in Qingdao, Shandong (PRC) and how they together can address the daunting issues of climate change with better management of the global Blue Economy.
The Town Hall was co-hosted by Zdenka Willis, director of the US IOOS office in Washington and featured the following panelists:
The Town Hall was co-hosted by Zdenka Willis, director of the US IOOS office in Washington and featured the following panelists:
- Rick Spinrad, Chief Scientist at NOAA
- Patrick Kinney, founder and president of Kinnetic Labs who has been in business for over 40 years in Santa Cruz successfully working on marine science projects primarily in the North American continent
- Michael Graham, Professor of Phycology at Moss Landing Marine Lab (MLML), a part of the California State University system who presented some very new technology and concepts on aquaculture and the commercial uses of algae
- Chris Scholin, director of the world famous Monterey Bay Aquarium Research Institute (MBARI)
- Brad Barbeau, Associate professor at CSUMB in the Monterey Bay and Executive Director of the Institute for Innovation and Economic Development who aptly stated the challenges that start-ups face for success
- Jenn Patterson, Information Manager of CeNCOOS discussing the importance of ocean observing to the Blue Economy.
You can view the presentation slides from the panelists HERE.
California Meets Vietnam Program
The Monterey Bay Area International Trade Association in cooperation with Vietnam Resource Group is sponsoring a California Meets Vietnam program starting from October to December 2016.
The Program includes:
- A Vietnam IT Networking Day in Silicon Valley on October 18th, 2016: a group of 10 software companies from Vietnam will be coming to Silicon Valley to look for business opportunities with American counterparts.
- A day of networking with the vibrant IT community of the Monterey Bay, October 19th, 2016 to establish business relationships between appropriate IT companies.
- A California Food/Agriculture Business Mission to Vietnam in conjunction with the VIETFOOD EXPO from Nov. 14 to Nov 20, 2016.
- A California IT Business Mission to Vietnam from Dec. 4th to 10th, 2016.
This is a combined effort of various private and public organizations in the US and in Vietnam with the main objective which is to provide plenty of networking opportunities in Education, Agricultural and IT sectors for Vietnamese and California companies to identify and develop business cooperation.
In 2015, California was the top state exporter to Vietnam with over $1.2 billion, making up 17.7% of all U.S. exports to Vietnam in goods. California exports to Vietnam have more than doubled since 2007 and have increased by 3.5% from 2014 to 2015. Vietnam is California's 26th largest export destination. (California Chamber of Commerce)
Middlebury Institute of International Studies has Created a Professional 3 Semester Program in Trade & Economic Diplomacy
The Middlebury Institute is a graduate school creating the next generation of global change makers. Our degrees emphasize deep collaborative learning: they immerse you in culture and language, and give you the opportunity to acquire and apply practical, professional skills. We focus on areas of critical importance including international security, human rights, social change, translation and interpretation, sustainable development, and global impact management. The Institute's newest master's degree is in International Trade & Economic Diplomacy (ITED).
This program gives students a strong intellectual foundation, professional experience, and the technical skills critical to effective and successful practice in the diverse, demanding areas of international economics and trade. The curriculum focuses on international economics, business and finance, institutions, law, commercial diplomacy, negotiation, and executive leadership.
Faculty are engaged in international organizations like the WTO, the US International Trade Commission, and the National Foreign Trade Council. This network - together with the influential Middlebury Institute and larger Middlebury networks - give students access and opportunity to excel their careers.
The ITED program begins with two semesters in Central California's intensely international trade environment surrounding Monterey. Students finish in Washington D.C., focused on trade strategy, policy and politics.
Professor in International Policy Studies
Monterey Institute of International Studies (MIIS)
Tel. (703) 819-7582
MBITA Member Update
By MBITA member Bernice Brubeck-Wonf, Brubeck-Wong Realtors
President of MBITA Tony Livoti is one of the most influential people I've met. His ability to strategically network has extremely benefited my professional life. I met Mr. Livoti on a search for my Chinese heritage. After learning about my search, he put me in touch with the Consul General of the Consulate of China in San Francisco. Later, he introduced me at a meeting with a representative from the California Governor's Office of Business and Economic Development (GOBiz) in Shanghai. From that meeting, I was able to gather key information regarding US exports to China. On the same trip to China, I also was named the first Certified Overseas REALTOR of choice for the Monterey Bay Region.
Additionally, Mr. Livoti helped me make valuable connections in order to assist the start up company I advise (LifestyledListings.com). He's put me in touch with government officials such as Congressman Sam Farr, California State Controller Betty Yee, and the mayor of my father's province in China. He's also introduced me to developers and business partners, such as General Managers of Hainan Airlines.
Thanks to him, I've crafted many international real estate connections, just one of which is with the Century 21 China office. Recently, I've been working on a relationship with an EB5 Regional Center, Century 21 M&M, and Century 21 China.
I am proud to be an Ambassador for MBITA under the leadership of Mr. Livoti. I owe much of my success to him. I encourage anyone who wants to boost their business to contact him.
Welcome to the World TradeWinds new legal section focusing on the challenges of trade and investment and the do's and dont's of the various laws that pertain to global trade transactions.
The South China Sea Arbitration Award
by MBITA Member James P. Rowles, Esq.
On July 12, 2016, an international arbitral tribunal constituted under the terms of the U.N. Convention on the Law of the Sea (UNCLOS) handed down a unanimous decision in The South China Sea Arbitration. The panel of distinguished experts was made up of nationals from Germany, Poland, France, the Netherlands, and Ghana.
The case was brought by the Philippines against China in January 2013 over certain legal rights and Chinese activities in the South China Sea. China argued that the tribunal lacked jurisdiction, refusing to participate in any of the proceedings. On October 19, 2015, the tribunal decided that it had jurisdiction, under provisions of UNCLOS which specifically gave it that authority. In a comprehensive and meticulous judgment on the merits (nearly 500 pages), the tribunal considered the arguments of the Philippines and also those of China, which were made available to the panel.
The tribunal rejected China's principal argument that it had "historic rights" within the so-called "Nine-Dash Line", which included much of the South China Sea, holding that the Law of the Sea Convention "sets forth a comprehensive system of rights and freedoms that covers the oceans as a whole and was intended to supersede prior inconsistent claims," (quote from Bernard H. Oxman, summary - see Sidebar).
With respect to the Spratley Islands and the Scarborough Shoal, the tribunal found that in neither case did the "features" (including reefs extending above water at high tide) possess the characteristics necessary to be considered full islands generating a 200-mile Exclusive Economic Zone and Continental Shelf, and at most would be entitled to a 12-mile territorial sea.
The tribunal also decided that 'China's artificial island-building activities on the seven reefs in the Spratly Islands', could not change their legal character, or the rights generated by these "features" in their original condition. China, it determined, had through such activities also caused "devastating and long-lasting damage to the marine environment".
The tribunal's interpretation of what constitutes an island under the Law of the Sea Treaty is likely to be authoritative, affecting maritime claims throughout the world. Its holding that artificial island-building cannot change the natural state of a "feature" which determines whether it creates a 200-mile Exclusive Economic Zone and Continental Shelf. This ruling is also likely to have a decisive impact on the international legal consequences of such actions, in the South China Sea and far beyond.
SIDEBAR --- Further reading
For a succinct yet authoritative summary of the legal issues in the case, see Bernard H. Oxman, "The South China Sea Arbitration Award," August 29, 2016, at Social Science Research Network. Oxman is a law professor at the University of Miami, participated in the UNCLOS negotiations as a State Department lawyer, and also served as Counsel to the Philippines' legal team.
Click here for the full text of the award.
James Rowles, Esq.
International Legal and Management Consulting
P.O. Box 7153
Menlo Park, CA 94026
Tel. (650) 466 0111
|Ayse's Corner is a feature column of the World TradeWinds eZine'. Ayse Oge is a published author and global trade marketing expert and author of Emerging Markets.
The Trans-Pacific Partnership - And Why It Is So Important
After years of negotiations, the Trans-Pacific Partnership between the U.S. and eleven other countries - Japan, Canada, Australia, Mexico, Malaysia, Singapore, Chile, Peru, New Zealand, Vietnam and Brunei - is facing tough opposition in Congress, particularly by the Democrats and by both presidential candidates (Hilary Clinton and Donald Trump) who believe that it will sacrifice jobs to foreign competition.
However, technology, not trade, has been the main reason behind manufacturing job losses. According to a recent study by the Center for Business and Economic Research at Ball State University, productivity growth caused 85% of the job losses in manufacturing from 2000 to 2010, a period that saw 5.6 million factory jobs disappear. In that same period, trade accounted for a mere 13% of job losses.
The Asia-Pacific region will represent an estimated 3.2 billion middle-class consumers by 2030, so it is crucial for the U.S. to play a leading role in defining the rules of the trade and not leave it to others. The TPP will eliminate or reduce 18,000 tariffs, taxes, and non-tariff barriers like quotas, which will only increase the existing 44% of U.S. goods and services exports in the region. The agreement also puts in place strict rules to protect intellectual property for the 40 million Americans working in creative and digital industries. Tighter provisions in dispute settlement with specific timetables will also be enforced. And finally, the TPP isn't all about trade; it leads to overall economic reform, higher labor standards and environmental protection in developing countries such as Vietnam and Malaysia.
Globalization and trade agreements have made positive contributions to American manufacturing. Exports allow U.S. manufacturers to achieve economies of scale, reducing per-unit production costs and making them competitive in the global marketplace. The additional revenue can be invested in research and development, leading to new products/services and expanding market share. This is why U.S. trade-related jobs pay 18% more than non-export connected jobs in the same sector.
Trade agreements are part of a larger economic strategy to invest in education to produce skills that are complemented by - rather than substituted for - technological change. The right approach to helping workers whose jobs are displaced by free trade is to provide effective safety nets, better vocational education, and assistance in retraining them to be more competitive in the job market.
Unfortunately, protectionism is a popular word that will only impoverish the middle class. As the world continues to flatten, the TPP would be instrumental in opening new markets for U.S. goods/services and would allow us to share stellar American brands, ingenuity and creativity with loyal global customers worldwide.
|Asia Pacific Economic Integration Conference on Friday, June 10, 2016 in Los Angeles, CA
Ayse Oge is President of Ultimate Trade, International Trade Consulting, Speaking and Training. Ayse Oge is International Trade Consultant, Speaker and Trainer. She has served as an instructor for SCORE (Service Corps of Retired Executives) with the same goal as her focus. Ms. Oge has authored numerous articles and several publications including books, World Smart Veterans: From War to International Trade, Go Global to Win and World Wise Children. Ms. Oge's list of certificates, honors and awards for her leadership and service includes The Business Education State Advisory Committee.
Tommy G's TAGlines
|Tommy's Taglines is a new feature column for the World TradeWinds eZine. Thomas A. Gardiner was a founding member of MBITA in 1987 and one of the leading tourism professionals in California. Please enjoy these tagline headlines on the current trends and milestones in our news rich society.
San Jose, California is one of the 10th Happiest cities in the world!
Traveling Abroad? This New website will change your life - Author Jamie Ditaranto
"This is why my mind was completely blown when I came across Basetrip", states Ms. Ditaranto discussing a travel research tool that not only answers any question you have about any country in the world, it also neatly organizes the information. Simply enter your citizenship and the country you're traveling to and Basetrip will pull up information on that country's weather, type of outlet, currency, cost of living, tipping practices, internet speeds, emergency phone numbers, necessary vaccinations, location of your embassy and more, complete with links to all the resources. You also have the option to read tips from other readers about each country and add your own."
Germany, France, and New Zealand Issue Warnings about Travel to U.S. - Author Lilit Marcus
It's normal for the United States State Department to issue warnings or advisories about travel to other countries, but now the tables have turned and the U.S. is the subject of multiple warnings from other countries, including France, Canada, New Zealand, and Germany. The warnings include cautions about Zika and gun violence. From Conde Nast Traveler-Travel Intel-Morning News, 8-12-2016
12 Things to Ask For When You Check into Your Hotel Room - Author Toby Orton
If the question of asking for an upgrade is the only thing running through your head at check-in time then you're losing out. Hotels have plenty of extra amenities that might make your stay more comfortable, but the average visitor often doesn't ask about them. Even if you've already booked and paid for your stay, there are still perks and privileges left to uncover upon arrival. To make the most of your hotel experience (and get the most bang-for-your-buck), click HERE to see a dozen things you should ask for when you check in that you didn't think about before. Oyster.com, 8-31-2016.
U.S. Workers not taking Vacations-Gender & Demographics: "What Americans are really doing with their vacation" - Author Danica Lo
According to a survey conducted by Wakefield Research with more than 1,000 people across the country, 40 percent of Americans will take five or more days off each year- that's an entire work week! - just to catch up on sleep. The results of the study, published in Princess Cruise's seventh annual 'Relaxation Report,' also reveal that 68 percent of Americans have used vacation days for non-vacations - including covering family emergencies, doctor's appointments, sick days for kids, around-the-house projects (renovations, repairs, etc), and everyday errands. Conde Nast Traveler-Travel News-Morning News, 8-16-2016
International Business Travel to the U.S. Grew Faster Than Leisure Travel in 2015 – Author Dan Peiter
The U.S. National Travel and Tourism Office found business travel from top overseas markets to the U.S. grew by 15 percent year-over-year and leisure travel from the same markets grew by nine percent.
Business travel arrivals growth from Ireland, the Netherlands, Australia and Italy were strongest and grew between 30 to 40 percent over 2014. Business travel growth was markedly stronger from markets like France, Germany, Japan, and Australia where business travel was more than 15 percentage points higher than leisure travel growth. Brazil, the third largest overseas leisure market for the U.S., is the only notable exception with both its leisure and business travel arrivals decreasing two and four percent year-over-year, respectively. Skift 8-3-2016, 'Top Overseas Markets for the U.S. For Business and Leisure Travel in 2015'
Here's what would happen if America totally abandoned cash - Author Maria LaMagna
If you can't imagine a cash-free world, you aren't alone - despite the prevalence of credit and debit cards and the rise of mobile payments, more than 80% of all transactions worldwide still happen in cash. And yet the global attachment to cash may not be helping many countries' economies. Because cash is expensive to store and transport, a switch to digital transactions would ultimately pay off for many countries, according to recent research from Harvard Business Review and experts from Tufts University. 'MSN Money-Market Watch 6-3-2016'
Thomas A. Gardiner is the current California Representative for John Gardiner's Tennis Ranch Foundation
Thomas A. Gardiner has been in the Hospitality Destination Resort business all his life.
Born in Carmel, CA in 1951 and living on the Monterey Bay all his life, his parents John and Barbara Gardiner were recognized in 1957 by Time Magazine for opening the 1st Destination Tennis Resort - Summer Children's Tennis School Camp in the World: The John Gardiner's Tennis Ranch Foundation, a
501(3)c CA-Non-Profit Hospitality & Tourism Careers Development organization in Carmel Valley CA.
Growing up in a family business, doing almost every resort job, becoming the general manager and being recognized by Forbes, Gourmet, Tennis and Town & Country magazines, Mr. Gardiner resigned in 1984 to form TAGCORP Management & Marketing Services Consultant Business.
MBITA's trade finance column features articles from the experts in the field of EXPORT FINANCING.
CREDIT INSURANCE UPDATE FOR MAJOR EXPORT MARKETS
by MBITA Member Meridian Finance Group
You need to offer competitive payment terms to grow your international sales. But what happens if you don't get paid? Exporters can protect their foreign receivables against default risks with a trade credit insurance policy. Coverage is available for U.S. exporters' sales to creditworthy customers in all of the following markets.
CHINA: With the world's largest population and second largest GDP, China is the third biggest market for U.S. exports (after Canada and Mexico). While China has the world's leading exporting economy, it is also the world's second largest importer. Around 10% of China's imports come from the USA. Demand for U.S. products is expected to persist even with the slowdown in China's growth (which is still projected at 6-7% for 2016).
JAPAN: After China, Japan is the next largest U.S. export market . . . buying around 10% of its imports from the USA. Globally Japan is the fourth biggest exporter and the fourth biggest importer. While ranking tenth in population, Japan has the third largest GDP in the world. Neither Japan's exports nor its imports are growing in the present global economic environment, but Japanese appetite for U.S. goods is expected to endure for the foreseeable future.
SOUTH KOREA: The U.K. and Germany are the fifth and sixth biggest markets for U.S. exports, followed by South Korea. The size of the country's population ranks 27th globally, but South Korea is the world's fifth largest exporter and ninth largest importer . . . with around 9% of its imports coming from the USA. As an export-driven economy, South Korea's growth (projected at 3% for 2016) is impacted by global demand for its products.
HONG KONG: After South Korea the next largest markets for U.S. exports are the Netherlands and Brazil, followed by Hong Kong. This autonomous "special administrative region" of China, only about 1000 square miles in area, is densely populated and ranks eighth among importing economies worldwide. While Hong Kong understandably buys most heavily from China, the USA is the biggest non-Asian point of origin for Hong Kong's imports. Hong Kong is a major global financial center.
SINGAPORE: Ranked next among U.S. export markets come Belgium and France, followed by Singapore. An island city-state located off southern Malaysia, Singapore is the 15th largest importer in the world. Singapore, like Hong Kong, is small in area but a populous global financial center. The country's economic growth has been slow but is expected to accelerate along with expanding international trade.
TAIWAN: Following Singapore the next largest destinations for U.S. exports are Switzerland and Australia, trailed by Taiwan (formally the Republic of China). Taiwan has a significant economy but is not universally recognized as a sovereign state owing to its complicated 20th century history with the People's Republic of China. Taiwan's newly-elected president is prioritizing economic growth, although not necessarily relations with the mainland.
SOUTHEAST ASIA: Other Asian markets (by rank) for U.S. exports include Malaysia (24th) whose economy is growing sustainably at around 5%; Thailand (25th) which is experiencing slow growth under military rule; the Philippines (33rd) where it's too soon after elections to assess the new leadership's effect on the economy; Indonesia (35th) with the world's fourth largest population; and Vietnam (38th) whose economy is transitioning from agriculture to more non-farming activities.
THE TRANSPACIFIC PARTNERSHIP (TPP) is a trade agreement among twelve nations - including the USA and all of the above countries except China - that was signed earlier this year after seven years of negotiations. It still needs to be ratified by each country. Implementation could increase U.S. exports in some sectors but might cost U.S. jobs in others. How or whether the treaty will progress is unknown in this year of U.S. presidential politics. In the meantime, with or without a new trade agreement, these Asian markets already represent some of the world's most fertile grounds for U.S. companies to expand their export sales.
MERIDIAN FINANCE GROUP provides trade finance tools that exporters can use to expand their international sales. We specialize in brokering trade credit insurance and offer policies from every underwriter in the market. Getting our clients set up with the best insurance policy is only the beginning for us. Every policy we sell is supported with our training, compliance, and advocacy services. For more information, visit www.meridianfinance.com, call (310) 260-2130, or email firstname.lastname@example.org
©2016 Meridian Finance Group
Meridian Intl Insurance Services
CA Lic 0C84279
EXIM Bank Signs Memorandum of Understanding with PTA Bank to Increase Trade Between US and Africa
MOU Could Provide Up to $100 million to Finance the Purchase of American Goods and Services
Washington, DC - Fred P. Hochberg, Chairman and President of the Export-Import Bank of the United States (EXIM), and Admassu Tadesse, President and Chief Executive of Eastern and Southern African Trade and Development Bank (PTA Bank), today signed a memorandum of understanding (MOU) with the goal of increasing the trade of goods and services between the U.S. and sub-Saharan Africa at the U.S. Business Africa Forum (USABF) in New York City.
"Now is a time for U.S. businesses to seize unparalleled opportunities in sub-Saharan Africa," said Chairman Hochberg. "This memorandum builds on a partnership that will advance EXIM's mandate to promote the purchase of U.S. goods and services in the public and private sectors in sub-Saharan Africa."
They were joined at the signing ceremony by EXIM Bank Vice Chair and First Vice President Wanda Felton.
The MOU is a statement of general intent between EXIM and PTA Bank to exchange information on trade and business opportunities in key sectors, including commodities; agriculture and food products; medical equipment; water and sanitation; power and energy; infrastructure; and large and small equipment purchases.
"PTA Bank and EXIM are long standing partners with over a decade of cooperation," said Mr. Tadesse. "As a fervent supporter of the UN Sustainable Development Goals, PTA Bank will continue to build and serve the region in areas such as infrastructure and power development amongst others, with trusted partners such as EXIM."
Under the MOU, EXIM and PTA Bank will explore options for utilizing up to $100 million dollars in EXIM financing programs, including EXIM Bank short-, medium, and long-term financing programs. Since 2009, EXIM has supported more than $8 billion in exports to Africa, approximately 90 percent of which went to the sub-Saharan region.
Small business exporters can learn about how Ex-Im Bank products can empower them to increase foreign sales by clicking here. For more information about EXIM, visit www.exim.gov.
This press release was published by Exim Bank on September 21, 2016.
View source press release.
Initiative (NEI) Update
Commerce Official Leads U.S. Delegation to Inaugural U.S.-Brazil Defense Industry Dialogue, Deepening Defense Trade
Visit to Brazil also seeks to strengthen health IT industry ties
WASHINGTON - Acting Under Secretary of Commerce for International Trade Ken Hyatt formalized a commitment to promote defense industry trade between the United States and Brazil. Hyatt signed a Letter of Intent with the Federative Republic of Brazil after leading a delegation of U.S. Government officials from the U.S. Departments of Commerce, Defense, and State to the inaugural U.S.-Brazil Defense Industry Dialogue (Dialogue) in Brasilia. The Dialogue brought more than 150 U.S. and Brazilian defense industry and government experts together to discuss important policy and business issues confronting the U.S. and Brazilian defense industries.
"The inaugural Defense Industry Dialogue is a first step towards expanding our bilateral engagement in this important sector and lays the groundwork for increased collaboration between our two nations," said Hyatt. "There is a tremendous amount of potential for increasing cross-sectoral trade and investment, and we look forward to identifying new and mutually beneficial opportunities."
The Dialogue was the result of a June 2015 joint recommendation from the U.S.-Brazil CEO Forum. It was designed to strategically incorporate the private sector into the defense conversation. Topics of discussion included: best practices for commercial partnerships; export compliance; supply chains; military specification certifications; and strategic defense modernization programs.
Earlier this week, Hyatt also participated in the Department of Commerce's Health IT trade mission in Sao Paulo, introducing U.S. companies and public institutions in this important sector to potential Brazilian clients and partners. In addition, he met with high-level Brazilian government counterparts to discuss bilateral trade priorities, and held meetings with Brazilian private-sector representatives interested in the upcoming SelectUSA investment roadshow, set for December 5-9.
Brazil is an important commercial partner for the United States, with bilateral merchandise trade reaching $59.1 billion in 2015. Brazil's defense budget has more than doubled since 2003 to $23 billion in 2015, and is the largest in Latin America and the Caribbean region. Brazil remains our second-largest defense trade partner in Latin America, behind Mexico.
This press release was published by the International Trade Administration of the U.S. Department of Commerce on September 30, 2016.
Read source press release.
International Trade Administration
The International Trade Administration (ITA) is the premier resource for American companies competing in the global marketplace. ITA has 2,100 employees assisting U.S. exporters in more than 100 U.S. cities and 72 countries worldwide. For more information on ITA visit www.trade.gov
The National Export Strategy is available also at
http://trade.gov/NEI and http://export.gov.
United States Department of Commerce
Office of Public Affairs - Tel. 202-482-4883
Must See Video on Global Trade
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