EXPORT & TRADE EVENTS UPDATE - NOVEMBER 2019Virginia and Washington, D.C.
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Spotlight Country: Japan
Japan is one of the most important trade and investment partners for the United States. In 2018, bilateral U.S.-Japan trade in goods and services surpassed $300 billion, as both exports and imports increased versus 2017. U.S. goods exports to Japan reached $75.7 billion, while services exports were $45.4 billion, for a total of $121.1 billion, up 6 percent from 2017.
Top U.S. exports to Japan include civilian aircraft and related parts, industrial machines, natural gas,
pharmaceuticals, medical devices, and travel and tourism. Imports of goods from Japan topped $142 billion, as services imports neared $37 billion, for a total of $179.1 billion, up 4.5 percent from last year. Top Japanese imports are autos, auto parts, and electronics.
Japan is the third largest source of foreign direct investment (FDI) into the United States, behind only the United Kingdom and Canada, with total stock of FDI in 2018 at $484 billion. Japan’s FDI position in the U.S. on a historical cost basis has grown every year for the past ten years, from
$238 billion in 2009. Direct investment in the United States by Japanese companies is predominantly in manufacturing, particularly transportation equipment (e.g., autos). These investments support U.S. jobs (close to one million) and contribute to U.S. economic output and exports. There are several reasons for American firms to participate in the Japanese market. In addition to its size and wealth, Japanese business partners expose American companies to new technology, rigorous competition, and – in some cases – the opportunity to partner with Japanese firms in third markets.
Why Do Business with Japan?
News: Last week, the United States and Japan signed two new agreements on trade: one on agricultural exports and another on digital trade. The two agreements being signed will help create jobs, expand investment, reduce our trade deficit, and promote fairness. These agreements will provide a tremendous boost to American farmers, workers, and businesses.
Read more about doing business in Japan by visiting the extensive Country Commercial Guide or other useful links provided by CS Japan.
Featured Events Trade Winds 2020
The 12th edition of Trade Winds, the largest annual U.S. Government-led trade mission, is headed to Hong Kong in April of 2020!
The Indo-Pacific region continues to be of great growth potential for U.S. exporters, in 2018 U.S. exports were $724.1 billion, up 4.6% from 2017. If you’re not already exporting to this region or want to increase your market share - Trade Winds is the perfect vehicle for you to do so.
Meet with distributors and representatives from Hong Kong, Korea, Japan, Vietnam, and Thailand, network with key industry contacts, schedule individual meetings with U.S. Economic Diplomats from across Asia, gain first-hand market insight and solidify your Indo-Pacific business strategy.
Learn More & Register now! | To receive updates subscribe to ITA! | For more information contact: TradeWinds@trade.gov | To sponsor, contact: Frances.Selema@trade.gov
U.S. Commercial Service & Partner Trade Events
For more information contact: Pompeya.Lambrecht@trade.gov | 703.235.0102
Worried about overseas buyer nonpayment? Want to increase your export sales? Visit our office on Thursday, November 21st at 10:00 am!
Are you interested in learning how the U.S. Commercial Service (USCS) of the Department of Commerce can assist you to pursue international sales? Need help with overseas buyer financing or accessing additional credit? The U.S. Commercial Service (USCS), The Export-Import Bank of the U.S. (EXIM) and the Small Business Administration (SBA) have programs designed to take the worry out of exporting.
The USCS can help you identify your top overseas markets and find qualified buyers or business partners overseas. With EXIM’s export credit insurance you are protected from the commercial and political risks that the private sector is unable or unwilling to accept, and the working capital loan guarantee program provides the cash you need to fulfill international orders. With SBA financial assistance programs, you can meet key financing needs, including debt financing, surety bonds, and equity financing. Working with these three U.S. government agencies will give you a competitive edge to win more international sales.
Sandra Collazo from the U.S. Commercial Service, Elizabeth Thomas from EXIM and William Houck from SBA, will be at the Commercial Service office in Rosslyn to meet with Virginia and Washington, DC exporters.
Thursday, November 21st – 10:00am to 11:00am - Group presentation: “Overview of Commercial Service, EXIM and SBA” (for new-to-export firms)
To RSVP for the November group presentation or if you are an experience exporter and wish to schedule a separate one-on-one meeting to discuss in-depth trade assistance, please contact Sandra Collazo: Sandra.Collazo@trade.gov
Address: U.S. Commercial Service Northern Virginia and Washington, D.C. office 1501 Wilson Blvd. (entrance to building on N. Oak St.) Suite 1225, Arlington, VA 22209
Contact Aaron Scott Miller for more information: email@example.com | 703.277.7715
Excon is a leading trade show for construction equipment and technologies in South Asia held every other year and organized by the Confederate of Indian Industry (CII). The U.S. Commercial Service (USCS) India is available to provide counselling on market opportunities in India and matchmaking services for U.S.companies exhibiting or participating around the show dates. Please contact your local USCS office and Antappa.Badigair@trade.gov and Ritu.Arora@trade.gov for details!
Understanding responsibilities between buyer & seller in terms of risk, obligation, and costs.
Who should attend: Sales team, Customer service, shipping and receiving, purchasing manager, ISO and compliance manager, CFO, corporate attorney, plant manager, finance and management.
Cost is $295 per person (pre-register by Dec 2nd) $345 to register after Dec 2nd.
Includes a light breakfast and all reference material (including the new official ICC Incoterms® 2020 guidebook a $65 retail value) and an incoterms chart. Seating is limited, reservations & check required to guarantee seat. Must RSVP via on-line registration here. Checks must be received no later than Dec 11th.
Contact Aaron Scott Miller for more information: firstname.lastname@example.org | 703.277.7715
Tokyo, Japan | December 18 - 21, 2019
The bi-annual International Robot Exhibition (iRex) is one of the largest robot trade shows in the world. In 2017, attendance exceeded 130,00 with 10,000 from 82 countries on the latest technology and related products from robot manufacturers. Japan External Trade Organization (JETRO), a
non-profit Japanese government agency that promotes both bilateral trade and foreign direct investment, will facilitate B2B meetings between international buyers and small and medium size Japanese companies seeking foreign partners. Categories include: Industrial Robots, Service Robots, Component Technology/Devices. JETRO covers some expenses for selected US companies.
For more details contact: Keith_Sanders@jetro.go.jp
The Startup Booster is an opportunity for startups to network with the composites value chain (including OEMs and Tier 1's) worldwide and get visibility in this industry. Twenty startups will be selected to pitch in front of a jury of experts including Airbus and Daimler and four winners will be selected. The competition is open to entrepreneurs with innovative projects, SMEs and academic spinoffs, in 2 categories: Process, Materials and Products.
The deadline to apply is December 12, 2019!
For more information contact: Stephanie.Pencole@trade.gov
2020 SelectUSA Investment SummitThe 2019 Investment Summit was an incredible success; it brought together 3,100+ business leaders and economic development officials from 79 global markets and 49 U.S. states and territories. More than 3,200 matchmaking meetings were confirmed, three new investment announcements were made that will create 135 jobs, and 65+ global companies joined Secretary Wilbur Ross and White House Advisor Ivanka Trump to sign the Pledge to America's Workers.
The 2020 SelectUSA Investment Summit will build on the success of this year's event, including a return of the SelectUSA Tech program, Industry Row, and the dynamic mobile networking app.
Topics ranging from infrastructure to workforce development will once again feature prominent industry experts and government officials.
The SelectUSA Investment Summit promotes the United States as the world’s premier investment destination and connects qualified foreign firms with U.S. economic development organizations (EDOs) to facilitate business investment and job creation.
In short: You don't want to miss it.
Registration will be open later this year. See what was covered at the 2019 Summit here.
Exporting Mechanics Webinar Series II
The U.S. Commercial Service, the export promotion arm of the U.S. Department of Commerce's International Trade Administration, has partnered with The NCBFAA Educational Institute (NCBFAA), to present an exporting mechanics webinar series focused on more leading and progressive topics. The series will provide U.S. small and medium-sized businesses with more advanced information that they need to help them increase exports abroad, while increasing employment and jobs in the United States.
Event: ECCN Classification Numbers
Date: December 10, 2019
Time: 2:00 p.m. - 3:00 p.m. ET
Cost: $25 per participant
Learn about ECCN Classification Numbers and how to use them more efficiently in international trade.
Event: Commodity Jurisdiction
Date: January 14, 2020
Time: 1:00 p.m. - 2:00 p.m. ET
Learn what "Commodity Jurisdiction" is and how it affects exporters.
Event: Drop Shipments & Routed Transactions
Date: February 18, 2020
Learn how drop shipments and routed transactions are handled as a supply chain management method and how this can be an advantage in exporting.
Event: Cultural Sensitivity Program
Date: March 10, 2020
Learn about cultural norms, traveling overseas, cultural understanding with negotiations, and the duty of care for employees.
Event: ACE Export Reports for Compliance
Date: April 14, 2020
Learn how to cover the ACE reporting that will assist in international transactions and staying compliant.
Navigating USMCA for the Automotive Industry Webinar
Wednesday, December 4 2019 at 11am EST
The webinar will host U.S. Diplomats from Canada and Mexico that specialize in the automotive industry as well as a USMCA specialist from the U.S. Department of Commerce 's office of Industry and Analysis.
Client will learn about the changing trade regulations of USMCA to Canada and Mexico, including overview of doing business in Canada and Mexico, automotive industry snapshot, current status of NAFTA, three goals of USMCA, and how SMEs will benefit.
Registration is currently open! | Questions? Contact: Shannon.Christenbury@trade.gov
Richmond, Virginia: Providing a Soft Landing Since 1607
This blog is part of SelectUSA's EDO Spotlight Series, highlighting the work of EDO's around the country recruiting foreign direct investments, how that work supports jobs and economic growth across the U.S. and how SelectUSA partners with EDO's to support economic development.
Today, the Richmond Region is home to more than 220 international firms from 26 countries employing 24,600 residents. From advanced manufacturing to supply chain and finance to technology, international firms love the region’s quality of life and affordable business costs.
The United States is the largest economy in the world, so opportunities abound for new businesses. However, most of our clients are adapting from their home market with different business cultures, systems and regulations. GRP encourages international firms to maximize their efforts and resources by taking advantage of expert advice and doing things right the first time.
When a company visits the Richmond Region, GRP schedules an itinerary loaded with meetings with industry leaders, local partners and service providers.
GRP’s Global Assistance Program is a one-stop shop designed to provide these essential connections for firms exploring opportunities in the U.S. market. Our roster of referral partners and experienced professionals have a proven track record with international businesses. Company information is always kept confidential and the first meeting with any of our partners is complimentary and without obligation. Available services, include legal advice, , financing, development and real estate, insurance, and marketing.
But don’t take our word for it. In fact, many of GRP’s former clients have served as the best salespeople for the Richmond Region. Several firms even serve on GRP’s International Advisory Committee, which provides valuable expertise and insight for companies considering the U.S. market.
It’s a lot easier following an expert’s map than stumbling through unchartered territory.
For more information on GRP, please visit the organization’s website at grpva.com.
ITA Trade Events Calendar
New Video Series Launches! Free Help to Develop Your Exporting Skills.
This fall, the U.S. Commercial Service brings you 8 new videos to help you master international sales. The new export.gov series provides practical training on the logistical aspects of exporting.
Get started today with the first videos:
Stay tuned for more videos that present the landed cost of an export sale, qualifying for free trade agreement preferences, foreign certification marks, and mastering the pro forma invoice.
Country Commercial Guides
Are you expanding to a new market? Do you need detailed information on a foreign market to make the right entry decisions? Have you checked out ITA’s Country Commercial Guides? If not, you may be missing out on valuable information that could help you better reach your export markets. These guides, covering over 125 countries, are an excellent starting point to find everything you need to know about doing business overseas. Each guide details eight important factors to help you decide if a market is right for your product or service. You can learn more about a country’s market details, business environment, regulations, top sectors, and more. ITA’s Country Commercial Guides help you make smart decisions on how to enter foreign markets.
ITA Tools & Resources
Can foreign buyers get help financing their purchase?
The U.S. government has programs to help U.S. companies complete international sales. These range from working capital, to support for international buyers, to insurance programs, and more. Learn about the variety of programs available.
Report a Trade Barrier. File a complaint about a trade barrier or unfair business practice with the
U.S. Department of Commerce
A Basic Guide to Exporting from the U.S. Commercial Service
Basics of Exporting video series, from the U.S. Commercial Service
Trade Finance Guide from the U.S. Department of Commerce
Access country-specific market overviews with the U.S. Commercial Service's Country Commercial Guides
Click here to view our office directory and see which trade specialist can help you grow your exports.
The U.S. Commercial Service is the trade promotion arm of the U.S. Department of Commerce’s International Trade Administration. U.S. Commercial Service trade professionals in over 100 U.S. cities and in more than 75 markets help U.S. companies get started in exporting or increase sales to global markets.
If you are ready to begin exporting or expand to additional global markets, please contact your nearest U.S. Commercial Service office or access exporting resources here.
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