Obama Administration Completes 2008 Annual Review of the Generalized System of Preferences
Washington, D.C. – Ambassador Ron Kirk announced today the outcome of the Obama Administration’s 2008 Annual Review under the Generalized System of Preferences (GSP) program. The GSP Program, in 2008, facilitated $31.7 billion in imports of nearly 5,000 types of products from 131 developing countries.
In keeping with GSP’s goal to advance economic development, the Administration will issue waivers that will prevent 112 exports from 16 beneficiary countries, with a 2008 trade value of $290 million, from being excluded from the program because they exceed statutory import ceilings. The Administration is also expanding the program by adding two agricultural products to the list of products eligible for GSP duty-free export into the United States from all beneficiary countries. In addition, as a result of their success under the GSP program, the Administration has also determined that 12 products from six beneficiary countries are now sufficiently competitive in the U.S. market to no longer need GSP treatment.
The Administration conducts an annual review of the countries covered under the GSP program and products that are eligible for duty-free treatment under the program. The statute includes commercial thresholds and waiver provisions regarding imports of products. Interested parties also file petitions seeking changes in the treatment of countries and products.
In announcing these changes, Ambassador Kirk stated, “Expanded trade with the world’s developing countries is critical to boosting their growth, reducing income inequality, and providing people with hope for the future. The GSP program is an important step in helping to revive global trade and restoring our sense of faith in international commerce to help improve lives at home and abroad.”
July 9, 2009
Cincinnati – Gifu Peace Day
Thursday, July 9, 2009
Sister Cities programs in America were founded with the goal of achieving international understanding and peace through citizen diplomacy.
The city of Gifu, Japan has been a valued Sister City of Cincinnati, Ohio since May 11, 1988. Cincinnati and Gifu have a rich history of cooperation, exchange, respect and friendship.
We hereby jointly commemorate those who fell in the bombing of Gifu City on July 9, 1945 by reaffirming our
commitment to world peace. We recognize that peace is a difficult process, but the first step is to work together and build strong relationships.
We ring the World Peace Bell as a sign of hope in the future and as a sign of our support of the efforts of all
those working towards world peace.
Gifu Sister City Committee, the City of Cincinnati and the City of Gifu welcome everyone in Greater Cincinnati and surrounding areas to share your support by attending the Ringing of the World Peace Bell.
When: Thursday, July 9, 4:00 PM
Where: World Peace Bell
403 York St
Newport, KY 41071
For more information please contact GSCC at info@cincinnati-gifu.org
July 7, 2009
Coping with ‘Made in China’ Scandals
Global companies must ensure, in China and around the world, that their products meet safety and quality standards and that their brands are protected (By Mark C. Goodman and LaRhonda Brown-Barrett, BusinessWeek).
July 6, 2009
Brazil: Venture Capital’s Next Hotbed?
Investments in Brazilian startups are surging, but high taxes and strict labor laws could hamper returns.
Brazil is best known around the world for soccer, samba music, and supermodels. Now it’s emerging as an attractive destination for investment capital.
At a June 25 conference in New York, a Brazilian venture capital trade group announced some impressive figures. As of the end of 2008, local and foreign investors had committed $28 billion in venture and private equity capital to Brazilian companies, said Luiz Figueiredo, president of the Brazilian Association for Private Equity & Venture Capital. That’s up from $6 billion in 2004, amounting to a hearty 50% compound annual growth rate over the last four years. Investors have financed 500 Brazilian companies to date with venture or private equity capital, and there’s $12 billion left to invest over the next few years from that $28 billion kitty (by S. E. Ante, BusinessWeek, June 28, 2009)
July 2, 2009
Multinationals Ride a Chinese Railroad Boom
As China spends vast sums to become No. 1 in rail volume and sophistication, IBM, General Electric, and Siemens are playing big roles (V. Wong, BusinessWeek, June 17, 2009).
June 26, 2009
LeapFrog Investments Raises $44 Million for Microinsurance Fund
The LeapFrog Investments Financial Inclusion Fund, the world’s first investment fund focused on microinsurance, has announced that it has raised $44 million, which it will invest in businesses that provide insurance and financial services to twenty-five million low-income people in Africa and Asia.
The fund raised the capital from public and private investors around the world, including the European Investment Bank, the Omidyar Network, the Hivos-Triodos Fund, ACCION International, and the Calvert Large Cap Growth Fund.
According to a recent Microinsurance Center report, while there are some one billion low-income people in developing countries who are willing and able to pay for a safety net to protect their family or business, fewer than 3 percent of those people currently have any kind of insurance.
“The world desperately needs market-based solutions to poverty that draw in major financial investors by offering fair but competitive returns,” said LeapFrog founder and president Andrew Kuper. “The best part about microinsurance is that we can reach millions of people, swiftly. Microinsurance is both profitable and scalable. We can think big. We don’t have to choose between money and meaning.”
Source: Philanthropy News Digest
June 23, 2009
Amsterdam: A Smart City Goes Live
The Dutch city’s eco-friendly infrastructure has new power hookups for electric cars, solar panels, and household wind turbines (M. Scott, BusinessWeek, June 8, 2009).
June 15, 2009
Act Now To Protect Your Company’s Trademarks on Facebook
Facebook, owner of the well-known social networking site, announced that beginning Saturday, June 13th at 12:01 a.m. EDT existing users, including individuals and businesses, will be able to create personalized usernames for their Facebook pages, which will operate as an Internet address for direct access to user’s Facebook profiles. Mark owners can also complete, at any time, Facebook’s online form to try to prevent their marks from being registered as usernames.
June 12, 2009
U.S. exports slip 18% through April
U.S. exports of goods and services during the first four months of this year were 18 percent lower than in the same period last year, the U.S. Commerce Department said, reflecting reduced demand in overseas markets for U.S. products due to the global recession.
In the Commerce Department’s April 2009 international trade report, U.S. imports decreased 27 percent over the first four months of 2009, compared to the same period last year, due to the recession and lower petroleum import prices this year (American Shipper Namaste, June 11, 2009).
June 11, 2009
Business opportunities in Curacao, Brazil
Learn how to build your business with partners in Curacao, Brazil
June 9, 2009
