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Blog June 2013
Created on June 14, 2013
Nestled on the banks of the Motor City’s Detroit River where approximately one mile of water separates America with Canada, the Detroit MBDA Center uses the city’s international urban flair to expand its clients’ business reach across the globe, including to South Korea and Myanmar (formerly Burma).
To facilitate exporting opportunities with our free-trade partner South Korea, the Detroit MBDA Business Center is drafting a Memorandum of Understanding (MOU) with the Korea Importers Association (KOIMA). According to KOIMA, an organization comprised of 8,000 business members, Korea imported over $600 billion worth of goods and services in 2012 and expects to import close to $1 trillion dollars of goods and services in 2013. In partnership with KOIMA, the Detroit MBDA Business Center will pursue reverse trade missions with Korean companies to showcase U.S. minority-owned firms and promote business partnerships.
Unlike the well-established market of South Korea, Myanmar is an emerging market. A country rich in natural resources, it is geographically bordered by five countries including India and China. Acknowledging the recently signed United States and Myanmar bilateral trade and investment framework agreement, the Detroit Center secured meetings with the Ministers of Commerce, Construction, and senior officials of the Myanmar Chamber of Commerce. These meetings led to a MOU with the Myanmar Minister of Commerce that will be used to inform the MBDA Business Center network of the numerous export opportunities.
Created on June 14, 2013
Pre-registration is now open for the SelectUSA 2013 Investment Summit! This first-ever event will take place in Washington, DC on October 31 and November 1.
The two-day SelectUSA 2013 Investment Summit will connect international and domestic investors and firms with economic development organizations (EDOs) from across the country in an effort to promote investment here and support the creation of American jobs.
Through a series of presentations and panel discussions, Summit participants will hear from world-class business leaders, senior Administration officials, and industry and technical experts. The Summit will feature an exhibition area where EDOs can showcase their business opportunities. Participants will also learn what Federal resources are available for investing in the United States. Another key component of the Summit will be matchmaking sessions, with opportunities for extensive networking.
SelectUSA, located within the International Trade Administration of the U.S. Department of Commerce, was established by President Obama in 2011. This Presidential initiative is charged with leading federal government efforts to promote the United Sates as the premier global investment destination and facilitate investment in the nation. SelectUSA provides counseling to the global investment community, serves as an ombudsman for investors, and advocates for U.S. cities, states, and regions competing for global investment.
Created on June 10, 2013
Direct Line for American Business: Market Information U.S. Business Can Use
“Let me be very clear: more than ever, foreign policy is economic policy. One of the best things our diplomatic presences abroad can do is to advance our economic interests and help create jobs here at home.” – Secretary of State John Kerry
With 96 percent of global consumers living outside the United States, exports are a great way to increase jobs and income here at home. Successful exporting requires accurate and up-to-the minute information on opportunities and market conditions abroad.
Direct Line to American Business
Direct Line lets U.S. business hear directly from our Ambassadors and our economic and commercial experts at over 260 Embassies and Consulates in over 190 countries. Our staffs are trained to identify promising market sectors and to help U.S. exporters capitalize on new opportunities.
Created on June 5, 2013
Last month, Acting Secretary of Commerce Rebecca Blank signed the “Tribal Consultation and Coordination Policy," (PDF) which establishes the manner in which the Department works with federally-recognized Indian tribes when developing Department policies that have tribal implications.
The Consultation Policy follows from President Obama’s Presidential Memorandum on Tribal Consultation from November 2009 which strengthens former President Bill Clinton’s Executive Order on “Consultation and Coordination with Indian Tribal Governments” (PDF). Upon signing, President Obama stated the importance of the Presidential Memorandum: “History has shown that failure to include the voices of tribal officials in formulating policy affecting their communities has all too often led to undesirable and, at times, devastating and tragic results. By contrast, meaningful dialogue between Federal officials and tribal officials has greatly improved Federal policy toward Indian tribes.”
Created on June 4, 2013
On May 8, the U.S. Department of Commerce’s International Trade Administration unveiled the first Spanish language version of the Trade Finance Guide: A Quick Reference for U.S. Exporters.
The Guide is a simple and effective tool designed to help U.S. small and medium-sized enterprises (SMEs) learn the best ways to get paid from export sales. Now that the Guide is also available in Spanish, it can better help U.S.-based Hispanic and Latino companies compete in global markets.
What is the Trade Finance Guide?
The Trade Finance Guide covers 14 subject areas in easy-to-understand two-page chapters that are written in plain language. The Guide is:
A “60-minute” self-learning tool for new-to-export SMEs that wish to learn how to benefit from export sales.
A user-friendly tool for international credit, banking and trade finance professionals, as well as export counselors for client assistance.
A flexible educational tool for professionals teaching international business.