Archive for the ‘Discover Global Markets’ Category

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U.S. Commercial Service: Connecting Exporters with Resources Necessary for Global Success

February 13, 2019

Susan Crawford is part of the U.S. Commercial Service’s Integrated Strategic Communications Team focused on showcasing America’s Export Experts and bringing to light useful and publicly available export insights.

When doing business globally, it’s all about who you know:

  • Who can help determine the most promising markets for your product or service?
  • Who can introduce you to potential foreign buyers or distributors?
  • Who can answer a myriad of export-related questions ranging from financing options to shipping documentation?

If you were one of the more than 330 U.S. exporters from 36 states who attended the U.S. Commercial Service’s Discover Global Markets: Indo-Pacific business forum in Salt Lake City, Utah, you likely walked away with valuable connections to help you expand your exports into Indo-Pacific markets.

The U.S. Commercial Service, the export promotion arm of the U.S. Department of Commerce’s International Trade Administration, recently hosted its 18th Discover Global Markets business forum to provide U.S. firms with access to the expert resources needed to identify and capitalize on growth opportunities in aerospace, defense and security sectors in the Indo-Pacific region.

Gil Kaplan

Under Secretary Gil Kaplan speaks to participants at the Discover Global Markets Forum

Indo-Pacific Market Opportunities

“There is great potential for U.S. companies to expand their presence in the Indo-Pacific and find ways to contribute their expertise, technical know-how and innovative technologies to help this region achieve its ambitious economic development goals,” Under Secretary of Commerce Gilbert Kaplan said in keynote remarks at the Discover Global Markets forum.

Markets in the Indo-Pacific region can present many exciting, new opportunities for U.S. firms. In 2017, the Indo-Pacific represented 33 percent of world GDP and the U.S. conducted more than $1.8 trillion in two-way trade with the region. The U.S. has an unmatched network in the region, as five of the United States’ seven treaty alliances are located there: Australia, Japan, Philippines, the Republic of Korea and Thailand, making it a potentially lucrative market for U.S. goods and services.

“Our U.S. commercial diplomats and U.S. Commercial Service international trade specialists are here to provide market intelligence on opportunities for your company; by introducing you to potential business partners and helping you develop strategies to conquer your next export market,” Kaplan said.

Making Valuable Global Connections

In fact, U.S. commercial diplomats based in 14 Indo-Pacific countries, including Australia, Burma, India, Indonesia, Malaysia, New Zealand, Philippines, Japan, Singapore, South Korea, Thailand and Vietnam participated in the event.  The diplomats, together with our U.S.-based international trade specialists, shared their local business advice and industry expertise in one-on-one counseling sessions with American companies.

Meetings

Commercial Service International Trade Specialist meet with U.S. companies

Ron Gividen, of Selex Galileo, Inc., participated in the event and said, “It was timely to meet and receive ‘in-country’ connected key influencer help across all of Indo-Asia in a single location, and in literally just 2 ½ days of in-person, direct interviews.  The knowledge of each key person representing their respective country helped to make our time so much more valuable.  All combined to help create definite connected ‘next steps’ for increasing future opportunities.”

U.S. exporters also had the chance to meet with 22 foreign buyers from 7 countries who attended the conference to source American-made products and services including aircraft components, airport terminal equipment, advanced materials, border security equipment and cybersecurity solutions.

Additionally, the U.S. Commercial Service connected representatives from Boeing, GE Additive and Textron Systems with U.S. SMEs at the event who could support the OEMs’ global supply chains and major projects in the Indo-Pacific region.

During the 2 ½ day conference, attendees heard from more than 30 speakers including executives from The Boeing Company, FedEx Express, GE Additive, Lockheed Martin Aeronautics Company, Moog Inc. Aircraft Group, and the U.S. Indo-Pacific Command. There were also numerous opportunities for attendees to network with speakers, our commercial diplomats and international trade specialists, and fellow exporters.

Recognizing Successful U.S. Exporters

At a forum designed to provide companies with tools to expand exports, recognizing firms that are committed to exporting and have succeeded in growing their exports was a fitting addition. U.S. Commercial Service National Director of U.S. Operations Thomas McGinty presented an Export Achievement Certificate to the following two firms for significant and sustained export sales:

  • Palo Alto, California-based Space Systems Loral, a Maxar Technologies company, and provider of satellites and spacecraft systems; and
  • Boise, Idaho-based Black Sage Technologies, a counter-unmanned aircraft systems integrator.

McGinty also recognized the World Trade Center Utah for encouraging and supporting local exporters.

Next Steps

If you are interested in exploring opportunities in the Indo-Pacific region, I encourage you to consider joining us for Trade Winds 2019 which will take place on May 6-13, 2019 in New Delhi, India, with additional stops in Bangladesh and Sri Lanka. Trade Winds is the U.S. Department of Commerce’s largest trade mission of the year. Visit the Trade Winds website for more information.

For additional information about the Indo-Pacific and other markets, check out our series of Country Commercial Guides.

 

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Meet the Contacts You Need to Succeed in 15+ Indo-Pacific Markets Without Leaving the U.S.

October 18, 2018

Susan Crawford is a Communications Specialist with the U.S. Commercial Service’s Integrated Strategic Communications Team. The U.S. Commercial Service is the trade promotion arm of the U.S. Department of Commerce’s International Trade Administration.

DGM Salt Lake City Utah

Did you know that the United States exported more than $480 billion in goods to Asia last year, and the potential for selling U.S. products in the region is still largely untapped? The Indo-Pacific region is considered the world’s aviation growth engine with several nations planning to expand existing airport facilities and launch new airport development projects. Governments in the region are also budgeting for major defense and security-related acquisitions.

These new developments in the Indo-Pacific region can translate into significant sales opportunities for U.S. suppliers, if you know where to start. If you’re wondering about how to identify promising markets for your products or services, find potential international buyers or avoid costly missteps, the U.S. Commercial Service can help.

The U.S. Commercial Service’s upcoming flagship Discover Global Markets conference will focus on aerospace, defense and cybersecurity opportunities in the Indo-Pacific region. The Discover Global Markets: Indo-Pacific conference will convene U.S. Commercial Diplomats from 15+ markets, foreign buyers from the region, U.S. industry leaders, U.S. OEMs and American exporters in Salt Lake City, Utah on December 10 – 12, 2018 to help U.S. firms export to the region.

The unique format of the Discover Global Markets: Indo-Pacific conference enables attendees to create a customized experience, targeted to their firm’s needs, that may include:

  • Pre-scheduled one-on-one meetings with our 15+ U.S. Commercial Diplomats who will come prepared with preliminary business assessments specific to your company in the markets of interest to you. They can discuss a variety of topics including industry trends, devising the right market entry strategy and refining cross-cultural communication and negotiation techniques.
  • U.S. Commercial Diplomats from the following markets will be available to meet with U.S. companies at the conference: Australia, Bangladesh, Burma, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Papua New Guinea, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
  • Meetings with foreign procurement executives from several Indo-Pacific markets including India, Japan, Malaysia, Singapore, South Korea, Taiwan and Vietnam, who are in search of U.S. suppliers and partners to support their aerospace and defense supply chain.
  • Meetings with U.S. OEMs who are seeking U.S. suppliers for their large Indo-Pacific aerospace and defense projects.
  • Roundtable discussions to learn from and network with expert presenters on topics related to Sales Channels & Project Pipeline, Supply Chain Optimization and Tools for Exporters.

This will be our 18th Discover Global Market Conference and 98 percent of previous attendees said they would recommend the conference to a friend or colleague. Paul Smith, of Astec Aggregate & Mining Group, attended a recent Discover Global Markets conference and said, “This seemed like a perfect opportunity for me to come down and interact and network with people from different countries that we’d like to target. I’ve gotten great feedback from the one-on-one meetings about new strategies that I can try. I’m getting a lot of great information here that I can go back and digest and incorporate into my strategies for the year.”

For more information and to register for Discover Global Markets: Indo-Pacific please visit the conference website, or contact Ms. Shelby Daiek at Shelby.Daiek@trade.gov , 801-524-3091, or Ms. Judy Kornfeld at Judy.Kornfeld@trade.gov, 202-482-1239.

We look forward to seeing you in Salt Lake City and helping your firm discover new opportunities in the Indo-Pacific region.

 

 

 

 

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Finding the Right Bank to Help Your Company Go Global

October 25, 2017

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

Robert Kurek is the Senior Vice President for International Financial Institutions at KeyBank

A few weeks ago, our team here at KeyBank had the pleasure of joining more than 350 people at the Discover Global Markets: U.S. Manufacturers to Europe and Beyond in Cleveland. As a proud sponsor, we were onsite, meeting with attendees on what to look for in a potential banking partner when entering global markets.

The rewards of an expanding global footprint are numerous, such as access to new growth markets and a diversified customer base, but with these benefits comes a certain amount of risk. Corporate treasurers are challenged every day to recognize, measure, and minimize these risks in a global economic environment that is anything but certain; however, with the right bank your company can recognize and minimize the dangers of international expansion.

If you were unable to attend the event, don’t worry. These are the top five questions to ask a potential banking partner as you explore international growth:

  1. What types of financing and foreign exchange transactions does it provide?
  2. What resources are available to help the importer or exporter?
  3. How does the bank evaluate foreign risk?
  4. Is the bank willing to take the time to understand your business and explain your options?
  5. Does the bank have well-established correspondent banking relationships abroad?

If a bank cannot confidently answer these questions, it is likely not the right partner for your international business ventures.

Finding a bank with global market experience ensures businesses make the most of their foreign trade opportunities. Small businesses should expect their bank of choice to offer working capital to help fill new orders from foreign buyers, including facilities supported by the Small Business Administration and the U.S. Export-Import Bank. These agencies accommodate special trade financing, which allows exporters to borrow against their foreign accounts receivable and extend short-term credit to foreign buyers.

Small and medium-sized businesses interested in expanding their foreign trade should access tools and informational resources to learn how to manage their risks while staying globally competitive.

The right banking partner plays a key role in connecting businesses to a wide range of resources, allowing them to take advantage of global opportunities. Businesses should be able to import, export, or both with confidence by utilizing appropriate finance tools and techniques to help them expand while mitigating risks. Check out some of our financial tools and resources available to help you manage risks and turn foreign business opportunities into profitable outcomes.

 

 

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Showcasing our strengths at Discover Global Markets

September 29, 2017

By Jason Lindesmith, Acting Director, Communications, U.S. Field, U.S. Commercial Service

Attendees listen as Erin Walsh, Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service delivers remarks on Sept. 18 in Cleveland.

Attendees listen as Erin Walsh, Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service delivers remarks on Sept. 18 in Cleveland.

Last week in Cleveland, more than 350 participants attended U.S. Commercial Service’s showcase forum, Discover Global Markets: U.S. Manufacturers to Europe and Beyond.

Discover Global Markets (DGM) events highlight the unique strengths of the U.S. Commercial Service and its global network. U.S. government trade experts representing more than 16 international markets, and dozens of industry experts descended on Cleveland to help hundreds of small businesses establish and grow their exports.

One of the keynote speakers, Erin Walsh, Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service, addressed the crowd to stress the importance of free and fair trade in expanding U.S. exports:

“The International Trade Administration and its U.S. Commercial Service plays a unique role in connecting both large and small U.S. companies to trading partners around the world,” Erin said. “Our Commercial Specialists around the globe thrive on providing the personal touch for our clients. We help U.S. businesses succeed in trade through customized solutions, from how to get your products through customs to commercial diplomacy such as breaking down barriers to entry.”

So how does the DGM agenda showcase the strengths of the U.S. Commercial Service?

U.S. Commercial Service staff from the International Trade Administration offered clients personal attention and held over 290 one-on-one counseling sessions with U.S. companies, helping them develop strategies for international growth. These sessions included staff representing more than 16 international markets from our global network of trade and policy professionals.

Where else can you receive one-on-one feedback from in-country experts from around the world without needing to travel overseas?

In addition, DGM demonstrated our extensive domestic contacts across U.S. manufacturing industries – more than 50 meetings between manufacturing original equipment manufacturers and prospective small business suppliers took place at the event. Breaking into global supply chains can provide small businesses the opportunity to sell into many global markets within a short time.

The next DGM event will be held in Kansas City, Mo. in April 2018 and will focus on design and construction sectors.

I encourage you to subscribe to the DGM e-mail list for any updates as the next event comes together. I look forward to seeing you there so you can take advantage of the U.S. Commercial Service’s strengths on display!