The Top Questions: Why and Where? |
The number one question I am asked, is “Why should I consider exporting?” I could say that statistics demonstrate that companies that export are more profitable, better able to withstand downturns, hire more employees, and pay those employees higher wages. However, what I really think people are asking is: “Where do I get help to begin exporting?”
Our mission at World Trade Center Delaware is to help companies to expand their business through international trade. Our assistance includes training, market research (sometimes in different languages), foreign trade missions, reverse trade missions by foreign delegations to the US, arranging private meetings with ambassadors and trade officials, and networking events. The World Trade Centers® Association network means that we have access to experts and unbiased information around the world. We have partnerships and represent numerous Federal agencies and provide space for the US Commercial Service to meet with Delaware companies in our office. To make an appointment with one of their specialists, just contact us.
Networking and Stock Markets
Our new “Come for the Information and Stay for the Fun” events are designed to bring you timely information about trade matters and follow this with an informal cocktail reception. Last week’s event on reducing the risks of foreign exchange could not have been timelier, as the world stock markets, and the US markets in particular, reacted to the interest rate increase set by the Bank of Japan triggering a cascade of stock sales. Suddenly, “carry trade” had become the new buzzword.
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What do interest rates in Japan have to do with US stock markets?
JC Fernandez-Seoane, the WSFS Director of Foreign Exchange, and WTC Delaware Board Member, unraveled the relationship between foreign exchange, interest rates, and the stock markets. He explained that investors had borrowed money in Japanese yen at very low interest rates, and then invested the borrowed funds in assets denominated in higher-interest currencies, such as U.S. stocks. This strategy, known as “carry trade” consists in borrowing currencies with low interest rates to buy assets denominated in higher interest rate currencies. The yen responded almost immediately to the rate hike and a low U.S. employment number, causing its value to rise dramatically relative to the other currencies. As a result, yen borrowers saw the cost of repaying their loan skyrocket, forcing them to sell their higher-yielding assets such as U.S. stocks to cover the repayment. Although it is uncommon for most of us to investment in carry trades, it is crucial for any international business to know what generates foreign exchange volatility and how to protect against it. We intend to bring JC back for another information session as this is such an important topic.
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Delaware State Treasurer Colleen Davis also visited us and presented the new Delaware EARNS retirement plan that allows small businesses to offer a retirement plan to their employees at no cost to the business. Businesses can help their employees save for retirement in a Roth Individual Retirement Account (IRA) through convenient payroll deductions. All eligible Delaware employers are required by law to facilitate EARNS if they don’t offer a retirement plan for their employees. The deadline to register is October 15.
Our next Come for the Information and Stay for the Fun event is October 23 when Bayard Hogans, the President of Enstructure Mid-Atlantic, Port Wilmington will present a new look at Port Wilmington.
International Delaware
This year’s theme for the 2024-25 issue of International Delaware is logistics. It will include articles about the strength of Delaware’s solutions. We have every piece of the supply chain: shipping, warehousing and distribution, cold chain, foreign trade zone, rail, highways, and airports. And of course, location.
For advertising opportunities, please contact
holli.muffler@todaymediacustom.com.
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Carla Sydney Stone
President
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Learn more about Port to Port International
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Learn more about Delaware Business Times
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Wheeler Wolfenden Dwares
Wheeler Wolfenden and Dwares, CPAs, is a well-established accounting and business consulting firm that has been serving clients since 1998. With offices in Pike Creek and Lewes, the firm provides a comprehensive range of services, including accounting, auditing, tax services, wealth and estate planning, litigation support, and business advisory and international services. The firm is known for its expertise and reputation in delivering high-quality accounting, tax, and advisory solutions.
Learn more: wwd-cpa.com
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Batta Environmental
BATTA Environmental Associates is a family-owned company offering a wide range of environmental engineering and consulting services. They provide 24-hour laboratory services, EHS training, and products for indoor air purification, contamination, and oil cleanup. Operating internationally in Brazil, China, Mexico, and the Middle East, BATTA Environmental is headquartered in Newark, Del. Their expertise spans environmental consulting, engineering solutions, and specialized products aimed at addressing various environmental challenges.
Learn more: battaenv.com
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DSN Corporation
Devon Mitchell, CEO of DSN Corporation, established the company to create strategic partnerships between U.S. businesses, academic institutions, and nonprofit organizations with the goal of offering training, mentoring, and leadership programs for Guyana's oil and gas sector. Beyond this, DSN acts as a vital link between Guyana and the United States, focusing on the Diaspora. It particularly serves immigrants and descendants from Black, Hispanic, and native populations from Africa and the Caribbean. Mitchell also serves as Co-Chair of the International Affairs and Trade Promotion Committee for the Delaware African and Caribbean Affairs Commission.
Learn more: DSN Corporation
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Important Reminder: U.S. Government Alerts to Help Companies Minimize Risk of Exporting to Russia or Iran | |
The U.S. Government has issued several alerts to U.S. companies to increase awareness of efforts by individuals and entities to evade BIS export controls implemented in connection with the Russian Federation’s (Russia) further invasion of Ukraine and Iran’s ballistic missile procurement activities. More information:
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Stone appointed to two EXIM advisory councils | |
WTC Delaware President Carla Stone has been reappointed to the EXIM Council on Small Business and newly appointed to the Council on Advancing Women and Business, two subcommittees that advise the Export-Import Bank on programs and initiatives to improve services to small businesses and women-owned businesses. Stone will work over the next year to represent Delaware perspectives to a national audience and help advance First State exporters on the national stage. | |
Black-owned business resources | |
The EXIM Bank supports efforts by the nation's 3.6 million Black-owned businesses to expand in global markets by offering trade finance tools that small businesses need to export their goods and services around the world. Learn about new products, conferences, and services from EXIM and hear a special message from EXIM President and Chair Reta Jo Lewis. | |
Graduate student internships from USCS | |
The US Commercial Service recently announced a paid internship for Master’s degree students in the fields of International Affairs, International Relations, International Studies, Economics, Business, Trade, Public Administration, or Public Policy for summer 2025. Apply below! | |
FTC shares information on Made in USA Standard | |
The Federal Trade Commission has issued additional guidance about how to comply with the Made in USA Standard and general information about the U.S. Customs and Border Protection’s requirements on products of foreign origin imported into the United States. | |
EDGE Grant deadline is August 30 | |
Delaware small businesses can apply for the EDGE Grant Competition to receive grant funding of up to $50,000 for non-STEM businesses and $100,000 for STEM businesses. Applicants must employ 10 people or fewer, have been operating for less than 7 years, and be majority located in Delaware. The deadline is Friday, August 30, at 4:30 p.m. Learn more and apply today! | |
Congratulations to Dianne Pagano Manges! She won the drawing for a 5-lb bag of Mutombo Coffee that we donated at the recent networking reception from the British American Business Council of Greater Philadelphia. Mutombo supports women coffee-growers across Africa as well as WTC Delaware’s paid internship program. We hope she enjoys it! | |
WTC Delaware provides a full range of international trade-related services with an in-depth focus on export/import of services and manufactured goods. These pages contain brief information on opportunities that could offer exciting possibilities for U.S. companies in a variety of industry sectors.
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GERMANY: E-Coating Supplier
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CAMEROON: Urban Waste Against Electricity Project
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THAILAND: Exosomes, Whey Protein, Anti-Aging Products
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URUGUAY: Medical Supplies
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PHILIPPINES: Health Technologies
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GEORGIA: Landfill Closure and Remediation, Solid Waste Project
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MEXICO: Water and Wastewater Opportunities
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MOROCCO: Desalination Project
View the most recent trade leads here.
Delaware companies: Please fill out our trade leads form so we can market your products or services!
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The Delaware Society of CPAs includes about 750 member certified public accountants, staff, and students that provides continuing education, learning opportunities, networking, career development, and government affairs. Members can receive term life insurance, accountants professional liability insurance, and cyber risk insurance; multiple CPA exam reviews; payroll and retirement services; and more.
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August 21
Small Business Roundtable, Small Business Administration Office of Advocacy
August 25-27
WTCA Asia-Pacific Regional Meeting, World Trade Center Haikou
September 12
Delaware Black Chamber of Commerce 4th Annual Gala
September 15-19
Annual National HBCU Week Conference
September 25
Swim With the Sharks Pitch Competition, Emerging Enterprise Center
September 23-26
Exporting Home Virtual Connection Program, Latin America, U.S. Commercial Service
September 23-27
Bogota International Industrial Fair
September 26
Inspiring Women in STEM Conference, DelawareBIO
September 26-27
Tourism Fair & Economic Summit 2024, DACAC
October 25-26
PACIE Annual Conference
October 28-November 1
Design & Construction Business Development Mission to Southeast Asia, U.S. Commercial Service
October 28-November 1
Fintech Business Development Trade Mission to Hong Kong and Thailand
October 28-October 29
ACE Exports Compliance Webinar, U.S. Commercial Service
November 12-20
Innovative Technologies for Urban Infrastructure Trade Mission to the Philippines and Indonesia, International Trade Administration
March 2-8, 2025
Trade Mission to India, Singapore, and Hong Kong, International Trade Administration
March 19-23, 2025
Genomic and Genetic Technologies Trade Mission, International Trade Administration
Even more partner events here!
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Complete searchable listing in our online Business Directory with a link to your business website.
Become a member today!
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World Trade Center® Delaware is the State’s premier international business resource. We help companies, especially small, medium-sized and emerging enterprises, to grow their international business. We provide trade leads, training programs, job leads, networking, matchmaking, trade mission and reverse trade mission opportunities for Delaware companies. We serve all types of companies in various sectors including agriculture, environmental remediation, IT, medical equipment manufacturing, biopharmaceuticals, financial, legal and real estate services. For more information visit us at www.wtcde.com.
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World Trade Center Delaware
42 Reads Way, Suite B
New Castle, DE 19720
ph: 302-656-7905
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Copyright © 2024. All Rights Reserved. | | | | |