Archive for April, 2009
RESTRICTIONS HAMPER EFFORTS OF U.S. PROPERTY AND CASUALTY INSURANCE PROVIDERS TO EXPAND INTO FOREIGN MARKETS
U.S. property and casualty insurance services providers are hampered in their efforts to expand abroad by nontariff measures employed by many countries, and even a small reduction in such measures could increase both cross-border insurance exports and affiliate sales significantly, reports the U.S. International Trade Commission (USITC) in its report Property and Casualty Insurance Services: Competitive Conditions in Foreign Markets (USITC, April 27, 2009).
NKITA Supports: Japan America Society of Greater Cincinnati
RECESSION SURVIVAL TIPS ON COST-CUTTING STRATEGIES FOR THE MANUFACTURING SECTOR: An Open Forum “INFORUM” Tradeshow and Breakfast brought to you by the Japan America Society of Greater Cincinnati.
When: Friday, May 1st, 8:00 a.m.-11:00 a.m.
Where: Crowne Plaza Hotels Cincinnati-Blue Ash
5901 Pfeiffer Rd, Cincinnati 45242
GRAND BALLROOM
Business to Business opportunity: KBR Advogados
KBR Advogados, a company specialized in legal advisory services in the areas of mining, sugar and ethanol, and agribusiness in general is looking for US suppliers of equipment and machinery for mining, heavy cargo transportation, excavation, as well as equipment for planting, growing, cutting down and managing trees in reforestation areas.
Representatives of KBR Advogados will be in Greater Cincinnati on Apil 29, 2009. To schedule an appointment, please contact Daniele S. Longo at dlongo@nkychamber.com
2009 Brazil Trade Mission to the U.S.
The Brazilian Embassy in Washington, DC and the American Chamber of Commerce in Sao Paulo are organizing an upcoming trade mission in the machinery and equipment industry. The Brazilian companies listed below will be traveling to Houston, TX, Cincinnati, OH and Washington, DC. You will have the chance to meet with representatives one‐on‐one to discuss business opportunities and potential partnerships.
Houston, TX: Monday, April 27th – Tuesday, April 28th
Cincinnati, OH: Wednesday, April 29th
Washington, DC: Thursday, April 30th
Brazilian Companies/ Organizations to Participate:
– Armtec
– TINTOMATIC
– PHTEC
– Sulmaq Industrial e Comercial S.A.
– HighTec
– Brazilian Machinery Builders’ Association
– City of Sao Paulo
– American Chamber of Commerce in Sao Paulo
– KBR
– Poppi Máquinas
– Wayser
– Trading and Cargo
Contact the Trade Promotion Office of the Brazilian Embassy to schedule your one‐to‐one meetings today!
Trade Promotion Office
Tel: (202) 238‐2757
Fax: (202) 238‐2827
Email: trade@brasilemb.org
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“10+2” Filings Late 70% of Time
U.S. importers and their agents are required to electronically file detailed data about cargo shipments 24 hours prior to vessel loading in a foreign port, but less than one-third of the documents submitted so far meet the deadline, according to the official in charge of the government security program. The news indicates that companies are still experiencing growing pains as they try to comply with the “10+2” rule that went into effect on Jan. 26 (E. Kulisch, American Shipper Namaste, April 7, 2009).
Learn More about the “10+2” requirements at next NKITA Trade Education Seminar
NKITA supports U.S. India Political Action Committee Trade Mission to India – Bangalore
The U.S. India Political Action Committee (USINPAC) is conducting a high profile Power and Energy business delegation from US to India visiting Bangalore, India on May 20, 21, and 22nd 2009. USINPAC plans to engage with and visit business headquarters including Tata, BP, Solar, Bhoruka Power Corporation Limited, ABB Limited, Bangalore Electricity Supply Company, Kirloskar Electric Company, Reva Electric Car Company, Draper Fisher Juvertson, ORB Energy, Schneider Electric India etc.
Chinese Trade Delegation visiting the Tri-State
Shadong Department of Foreign Trade and Economic Cooperation and the Greater Cincinnati Chinese Chamber of Commerce are hosting a delegation of business representatives of the Shadong province. The event, in partnership with the Northern Kentucky International Trade Association (NKITA) of the Northern Kentucky Chamber of Commerce, the Ohio Department of Development and the City of Cincinnati will be held on Friday, May 1st, 2009 at the Millennium Hotel, Downtown Cincinnati.
East Asia & Pacific Update – Battling the forces of global recession
According to the latest report of the World Bank, the countries of the East Asia and Pacific region have been deeply affected by the worst global economic and financial crisis in generations. While middle-income countries (i.e. Thailand, Malaysia, Indonesia, and the Philippines) were better prepared to face the shock thank to the economic changes implemented after the 1997-98 Asian financial crisis, throughout the region, decline in exports, cuts to production and decrease in private investment is producing layoffs and higher poverty rates.
CHINA’S GROWTH RECESSION &POLICY RESPONSE
Global demand for manufactured goods has fallen in the wake of the world-wide financial crisis and ensuing G-7 consumption slowdown. This drop in demand has pushed China’s economy to the brink of a “growth recession” –conventionally defined as a period of weak economic growth and rising unemployment.
To combat this, China’s government has utilized a combination of policy tools aimed at:
• Fiscal: Promoting domestic investment through public infrastructure development;
• Monetary: Loosening credit, particularly to state-owned enterprises; and
• Other: Extending export rebates and incentivizing real estate transactions.
There are several indications of an economic slowdown in China (see figures below). Recent reports of
labor market penetration problems and plant closings in thousands of textile, apparel, hardware, and
electronics firms, suggest that urban unemployment may rise above last official estimates of 4.2% (USITC Executive Briefings on Trade March 2009, A. Hammer, Office of Economics)
China: Exploring the Possibilities
| China is a country that stimulates much curiosity for many people. This curiosity comes from the fact known by most people that China is a country churning with activity and a growing economy that has been among the most robust in the world. It is a country with tremendous dynamism and opportunity, while creating wealth at staggering rates. However, it must also confront its numerous social and environmental challenges that if not addressed, will eventually slow the country’s progress. |
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| I recently had the good fortune to spend seven days in China as part of a delegation of presidents of Chambers of Commerce representing the Metro Cities Council of the American Chamber of Commerce Executives. I felt fortunate our trip was sponsored by a company known as Citslink International, Inc. They invited 30 Chamber executives to visit the People’s Republic of China to learn about economic development activities occurring in the four cities of Beijing, Shanghai, Hangzhou and Souzhou. |
Northern Kentucky International Trade Association (or NKITA) Blog 