Posts Tagged ‘Asia’

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Rebuilding, Opportunity, Challenges in Philippines

June 6, 2014

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Doug Barry is a Senior International Trade Specialist in the International Trade Administration’s Global Knowledge Center.

Developing countries have plenty of difficult tasks to overcome while modernizing. The Philippines was a special case, as a 2013 typhoon brought destruction and tragedy to the islands.

But some good news has returned to a population inching towards the 100 million mark.

For one thing, GDP growth is at 7.2 percent, among the highest growth rates in Asia. That’s expected to continue, fueled in large measure by repairing damage from the deadly storm. Sound macroeconomic policies under President Aquino’s administration have been helpful, and robust growth is expected to continue.

Commerce Secretary Penny Pritzker visited this nation with a delegation of U.S. business executives to discuss ways the United States can support rebuilding and growth in the Philippines, and how to advance the U.S-Filipino commercial relationship.

“This is a young, growing, vibrant market,” said Senior Commercial Officer Jim McCarthy, who hosted Secretary Pritzker on her visit.

He points out that the Philippines is the 12th most populous and fourth-largest English-speaking country in the world. “The people here think well and favorably of Americans and American products.”

With a median age of 23, this market holds plenty of future opportunity for U.S. businesses.

In particular, opportunities abound for U.S. exporters in aviation, security, defense, franchising, energy, infrastructure, franchising, IT, just to name a few.

For all the upside, said McCarthy, “it’s important to remember the Philippines is a work in progress.”

Filipinos are working to improve transparency and eliminate corruption in the market. Improvements in the nation’s Ease of Doing Business rankings led to an increase in the country’s investment rankings from all three major debt-rating agencies.

Other challenges persist. With high economic growth and a rising population come strains on infrastructure, including power generation, roads, airports, and ports. Government procurement requires patience and determination.

McCarthy believes that U.S. Government services available in the country lower risks and increase the success rate for U.S. companies.

The Department of Commerce, through its U.S. Commercial Service in Manila, organized five U.S. trade missions last year, the first such missions in several years. Delegations came from the states of Utah and Iowa, and from sectors such as energy and education. In addition, the multi-sectoral Trade Winds mission came to the Philippines in 2013. Three more delegations will visit the country later this year and include franchising, medical equipment, and a mission from the State of Mississippi.

“The increased interest in our services shows dramatically more interest in the export opportunities in the Philippines,” McCarthy said. “We urge U.S. companies to take their first or a second look at the country.”

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Understanding Business Opportunities in Vietnam

June 3, 2014

Peggy Keshishian is the Acting Senior Commercial Officer in the International Trade Administration’s Foreign Commercial Service Team in Vietnam.

Secretary Pritzker met with leaders from the American Chamber of Commerce in Vietnam.

Secretary Pritzker met with leaders from the American Chamber of Commerce in Vietnam.

It was an honor to host Commerce Secretary Pritzker here in Vietnam. She and the visiting delegation of U.S. CEOs and the U.S.-ASEAN Business Council are absolutely right to prioritize the Vietnam market and their visit to the country will do nothing but help solidify a promising commercial relationship.

Here’s what I know about Vietnam: Despite some potential pitfalls, it is a hotbed of opportunity for U.S. businesses.

There are two important reasons Vietnam is a promising market:

  1. The country is modernizing, meaning there are numerous needs for infrastructure development. Improvements of transportation systems — including subways, highways, and airports — not only mean opportunities for U.S. firms, but also an improved business environment in the country.
  2. The population is also young; 70 percent of Vietnamese citizens are under 40 years old. That means there is tremendous opportunity for developing brand loyalty among consumers. Vietnamese citizens recognize the quality of U.S. products, and incomes in the country are rising. That helps create a promising environment for U.S. goods and services.

That said, it’s important to recognize there are some risks in the Vietnamese market.

Much of the money being injected into the economy comes from foreign sources, and is often provided by nations that expect their companies to receive a leg-up when it comes to competing for state contracts. You need to aware of how projects are financed so that you don’t end up spinning your wheels competing for a contract your business is unlikely to win.

This is something Secretary Pritzker addressed in several meetings with Vietnamese leaders, and I believe the country is taking important steps to increase transparency and fairness.

Our Foreign Commercial Service team works hard to make sure any American company looking to enter this market knows how to succeed. We work with our Commercial Service colleagues in the United States to support U.S. businesses with services like market research, finding the most qualified local partners, and discovering the best opportunities available.

We’ll remain here on the ground, continuing to support U.S. businesses and building off the success of the Secretary’s visit.

If you’re interested in opportunities in Vietnam – or in any other market – you should contact your nearest Export Assistance Center to get started.

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New Expansion to Support New Opportunities

April 29, 2014

Arun Kumar is the Assistant Secretary for Global Markets and Director General of the U.S. and Foreign Commercial Service.

Arun Kumar is the Assistant Secretary for Global Markets and Director General of the U.S. and Foreign Commercial Service.

Arun Kumar

This post originally appeared on the Department of Commerce blog.

Last week, Commerce Secretary Pritzker made an important announcement that demonstrates the United States’ commitment to supporting developing economies and the Department of Commerce’s commitment to U.S. businesses competing overseas.

The Department’s International Trade Administration will open offices in five new markets, bringing Foreign Commercial Service (CS) officers into some of the world’s most rapidly developing economies. In cooperation with the U.S. State Department, we will open offices in Angola, Ethiopia, Mozambique, Tanzania, and Burma this calendar year.

These new offices, and our staff additions in other offices around the world, will make us more capable of supporting U.S. exporters. We can support more Gold Key Matchmaking, we can conduct more market research, and we can help connect U.S. companies to more global markets.

As a new member of the Department of Commerce team, I’m very excited to be a part of this major expansion – especially in such important markets for U.S. businesses.

Sub-Saharan Africa is one of the fastest growing economic regions in the world. The International Monetary Fund predicts continued growth throughout the continent, as part of a broad continental economic transformation.

Our new offices will support White House initiatives like Trade Africa and Power Africa, which have spearheaded a larger campaign to bolster development throughout the continent.

As U.S. companies look to ship goods to Africa, help increase electrical capacity, or help improve transportation networks, they will receive unparalleled assistance and expertise from our staff. With our new offices on the continent, we will be able to find partners for American companies, help navigate regulatory hurdles, and support the development that will make Africa thrive.

Our team in Thailand is already assisting American companies doing business in Burma, and our new office in Rangoon is a symbol of the importance of this market and of America’s commitment to Burmese reform, growth, and increased openness. We know that the Burmese people see U.S. goods as being of high quality, and the nation’s businesses are looking to get involved with American companies.

As this expansion takes place, these markets are where we will truly see the mutual benefits of trade.

As U.S. companies find more opportunities in these growing economies, they will bring the infrastructure and ideas that improves quality of life for citizens and they will support the partnerships that spur innovation among local businesses.

This announcement is just the start. I’m very excited to see how this expansion will help support existing partnerships, create new opportunities, and bring about the kind of development that is only possible through global trade.

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Discover What’s Next for Your Business at the Discover Forum

August 22, 2013

This post contains external links. Please review our external linking policy.

Shirreef Loza and Frances Selema are Senior International Trade Specialists with the International Trade Administration’s Export Assistance Center in Raleigh, NC.

The Discover Forum will be held in Raleigh, NC, from Sept. 16-18.

There are plenty of questions for a small business looking to start exporting. What markets are best suited for your company’s products? How can you compete with larger companies? How can you get paid for your products? What kind of research do you need to do to begin exporting?

Luckily, you can get answers to all these questions and more at the 2013 Discover Global Forum in Raleigh, NC, Sept. 16-18.

This two-day summit will feature some of the world’s most knowledgeable people when it comes to exporting. Trade specialists from around the globe will be on hand to share inside tips about doing business in established and emerging markets, from Africa to Asia and the Middle East to South America.

Update: Check out a video about the Discover Forum 2013.

These specialists work every day in some of the world’s fastest growing economies – markets with consumers who are actively seeking the made-in-USA label. They know the best ways to bring your products to customers around the world.

The Discover Forum is the perfect opportunity for any U.S. business looking to begin exporting or to expand exports.

There’s no question that exporting is a great way to grow just about any business. It can protect your company from fluctuations in a single regional or national economy. It can expand your customer base, increasing sales and profits. It can also help create jobs in your town and boost the local economy.

We’ve shared several stories recently about just a fraction of the companies who have experienced new levels of success because of exporting.

Your company could be the next success story.

We at the International Trade Administration are proud to partner with the North Carolina District Export Council and other organizations to host the Discover Forum because exports are crucial to supporting the American economic recovery. Exports support millions of jobs, and that leads to greater prosperity here at home.

If your business is ready to start or increase exporting, register now for the Discover Forum. You can also follow the Forum on Twitter or contact us for more information.

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ITA Leads Largest Ever Civil Nuclear Trade Policy Mission to Vietnam and China

June 13, 2013

Francisco J. Sánchez is the Under Secretary of Commerce for International Trade.

Under Secretary of International Trade Francisco Sánchez and U.S. delegation members meet with Vietnamese Minister of Science and Technology Nguyễn Quân and others in Hanoi, Vietnam.

Under Secretary of International Trade Francisco Sánchez and U.S. delegation members meet with Vietnamese Minister of Science and Technology
Nguyễn Quân in Hanoi, Vietnam.

This May, I was able to lead the largest ever U.S. Civil Nuclear Energy Trade Policy Mission to Hanoi, Vietnam, and Beijing and Ningbo, China. This mission enabled us to address important policy issues and highlight how U.S. civil nuclear technologies and services can help Vietnam and China meet their civil nuclear energy goals.

The U.S. government delegation included representatives from the White House, Department of Energy, U.S. Export-Import Bank, the U.S. Nuclear Regulatory Commission, and of course the U.S. Department of Commerce’s International Trade Administration. The industry delegation included 11 American companies in Vietnam and 15 in China.

Vietnam and China offer abundant opportunities to U.S. civil nuclear companies:

  • Vietnam is steadily developing its nuclear power program and its civil nuclear market is estimated to be worth $10 billion and expected to grow to $50 billion by 2030;
  • China is the world’s fastest growing civil nuclear market. 29 of the 65 reactors under construction globally are in China and the country’s nuclear industry is expected to grow to nearly $300 billion by 2020.

In Vietnam, our delegation met with government officials and also participated in a Best Practices workshop attended by 50 representatives from Vietnamese ministries, state-owned utilities, and regulatory agencies. Delegates shared their expertise on a variety of topics including safety improvements post-Fukushima, and how nuclear regulators and industry can cooperate to enhance nuclear safety.

In China, we met with eight ministries and companies to discuss policy issues such as liability, local content, and intellectual property rights. The mission concluded with a visit to China’s Sanmen nuclear power plant site, where the world’s first AP1000 reactor – designed by U.S. company Westinghouse – is being built.

Our trade mission also lined-up with other important events recognizing the value of our economic relationship with Asia.

This week, the U.S.-ASEAN Business Council is holding a series of meetings with U.S. businesses. I was also able to speak about the importance of Asia at the Hong Kong Trade Development Council’s Think Asia Think Hong Kong symposium in New York.

I am proud to contribute to our important trade relationship, and to have led such a distinguished delegation to these key civil nuclear export markets. This is another example of our efforts to help U.S. exporters find new opportunities to sell their goods and services and support American jobs.

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Trade Winds Asia 2013

May 10, 2013

Francisco J. Sánchez is the Under Secretary of Commerce for International Trade.

Logo for Trade Winds Asia, a business development conference in Southwest Asia May 9 through 17, 2013.

Trade Winds missions have led to nearly $110 million in reported export successes.

One thing we understand in international trade is the importance of partnerships.

Asia has been a great partner to American business and offers immense opportunities for companies looking to expand into new markets. As the 2013 Trade Winds Asia mission goes on through May 19, U.S. businesses will learn about opportunities in a wide range of industry sectors across many regions in Asia.

It’s a great event for World Trade Month as we continue to promote U.S. goods and services around the world.

The mission visits five major cities in the Asian market: Hong Kong, Manila, Seoul, Taipei, and Tokyo. These cities represent regions with expanding global sales potential for U.S. business, and play a major part in our recent export success.

  • The United States exported more than $387 billion of goods to Asia in 2012;
  • The top three export categories were computer and electronic products, chemicals, and transportation equipment;
  • U.S. exports to Hong Kong have more than doubled since 2005;
  • Exports to Japan have increased every year since 2009; and
  • U.S. exports to countries with which we have trade agreements, including Korea, increased by 5.8 percent in 2012.

These figures show the great partnership we have with Asia, and the potential that remains for future business. The figures also represent jobs back here at home; $387 billion in merchandise exports to Asia supports nearly two million American jobs.

Trade Winds missions around the world contribute to export success. Companies who report back to us on their successes tell us they’ve achieved nearly $110 million in exports as a result of participating in Trade Winds missions.

I’m honored to lead this mission and I’m proud of the work my colleagues at the International Trade Administration have put in to making the mission as successful as possible. I am proud to be working with the business leaders participating in Trade Winds Asia – and I hope we can help many more on one of our upcoming missions.

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Exporting Entertainment to China and Asia-Pacific: It’s a Wrap!

April 25, 2013

This post contains external links. Please review our external linking policy.

Andrea DaSilva is the Senior Media & Entertainment Analyst for the International Trade Administration.

The Hong Kong Trade Filmart attendees gather around the U.S.A. pavilion.Development Council recently hosted Filmart, the third largest film industry trade show after Cannes and American Film Market in Santa Monica, Cali.

U.S. exhibitors secured film licensing and distribution deals to the tune of $8 million and counting, supporting American exports and bringing some of our most creative exports to new audiences.

U.S. Secured 175 Licensing Deals Worth $8 Million

The International Trade Administration and the Independent Film and Television Alliance co-sponsored the American Pavilion as part of the Market Development Cooperator Program, with cooperation from the Pacific Bridge Initiative.

Buyers from around the region came to purchase U.S. filmed entertainment, which is nothing new; American movies continue to be in high demand globally. China’s State Administration of Radio, Film, and Television reports that seven of the top ten films in China last year were American.

Hong Kong Filmart provides an ideal gateway to reach China and Southeast Asia, especially for small and independent businesses based in the United States who can’t afford to hang their shingle in China.

China’s Film Industry – Expanding Rapidly

China’s entertainment market is growing, and with it demand for new content. Hollywood studios and small producers alike are increasingly partnering with Chinese industry or governmental bodies to bring U.S. films to the Chinese market.

PThe U.S.A. pavilion at Filmart 2013 in Hong Kong.roduction houses like Dreamworks, Marvel Comics, Warner Brothers, Relativity Media, and Legendary Pictures, to mention a few, all have joint projects with Chinese partners and their presence in China is contributing to the development of the country’s film and animation industries, while also increasing U.S. exports. It’s a dramatic shift from past decades when the doors were closed for business; the U.S. industry has a solid foot in the door today.

China’s Box Office – Exploding

China boasts the second-largest box office revenues worldwide at $2.7 billion in 2012, a 30.2 percent increase over 2011. Foreign films accounted for 52.4 percent of box office ticket sales in the country last year, but constituted only about a quarter of the 303 movies screened in Chinese theaters.

These exports aren’t just good for the film industry, they help support one of our most creative industries and help support American jobs.

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