Los Angeles Area Chamber of Commerce I August 2018
 
Photo Credit: Office of Mayor Garcetti
 
Chamber joins Mayor Garcetti's trade delegationtop
Last month, incoming President & CEO Maria Salinas, First Vice Chair Jerry Neuman and eight Chamber members joined Los Angeles Mayor Eric Garcetti's trade delegation visiting Japan, South Korea, Vietnam and Hong Kong. They represented the Chamber to discuss the importance of tourism and trade with Asia to the L.A. economy. The Chamber participated in the planning process of certain aspects of the Mayor's business agenda. A total of 58 business and civic leaders representing various industry sectors and city government entities also joined the trade delegation. The Chamber applauds and encourages the Mayor to continue building commercial, cultural and industrial bridges with government and business leaders in global markets. READ MORE. VIEW PHOTOS.
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LARExC signs MOU in Vietnam to expand trade
The Los Angeles Regional Export Council (LARExC) and the Vietnam Trade Promotion Agency (VIETRADE) signed a Memorandum of Understanding (MOU) to continue expanding trade and economic cooperation between Vietnam and the Los Angeles region. VIETRADE is part of Vietnam's Ministry of Industry and Trade (MOIT). Chamber Vice Chair Jerry Neuman signed the MOU on behalf of LARExC, and Director General Vu Ba Phu represented VIETRADE. Mayor Garcetti and Minister Tran Tuhn Anh participated in the signing ceremony as witnesses. This formal ceremony was held in Hanoi as part of Mayor Garcetti's agenda during his trade mission to Asia. Vietnam is the Los Angeles region's 4th largest trading partner with a total annual bilateral trade of $19 billion. LARExC is an affiliate program of the Los Angeles Area Chamber of Commerce. VIEW PHOTOS.
 
Chamber interviewed by lead Chinese television broadcaster regarding U.S. - China trade dispute
Last Friday, Carlos J. Valderrama met with an overseas correspondent of China Central Television (CCTV), the predominant state television broadcaster in the People's Republic of China. Valderrama noted, "The Chamber acknowledges that the U.S. - China trade dispute is due to the large trade deficit in the commercial exchange of goods between the two countries. However, the Chamber's position is that negotiations are the best manner to solve trade disputes and that solutions or compromises should not be based only on reducing trade imbalances." China accounted for more than 40 percent of the Los Angeles Customs District's trade for the second time in three years, with a record total of more than $172 billion. China Central Television has a network of 50 channels and is accessible to more than one billion viewers.
 
Chair of LARExC and policy chair for the Global Initiatives Council discusses new trade policies with NBC4
Brian Peck, director of USC's Gould School of Law Transnational Law and Business Center, recently addressed the newly implemented trade policies under the Trump administration on NBC4. Peck noted that the trade war with China will have significant repercussions particularly for California, heavily affecting its agricultural industry and products such as nuts, soybeans and almonds. The recently broadcasted 4.1 percent economic growth in the U.S. was partly a result of a rush by exporters to get their products overseas before tariffs go into effect. In 2017, California's exports were valued at $127 billion. One in nine jobs found in five major Southern California counties is directly or indirectly tied to trade at the ports. In particular, China is California's third largest export market resulting in five out of every six containers at the Port of Long Beach and Los Angeles. Peck noted that if negotiations should de-escalate the tariff war now, it is not too late to prevent long-term damages to the American economy. The supply chain has become too globalized and our economies too integrated for the trade war to continue. Brian Peck serves as chair of the Los Angeles Regional Export Council (LARExC) and policy chair for the Chamber's Global Initiatives Council.
The Los Angeles Regional Export Council (LARExC) is an affiliate program of the Chamber. VIEW THE INTERVIEW.
upcoming
How To Identify And Compete Effectively For World Bank-Financed Contracts: A Conversation On the New Procurement Framework, Aug. 15
Join the Global Initiatives Council to hear from Enzo de Laurentiis, chief procurement officer in the Operations Policy & Country Services Vice-Presidency of the World Bank, as he sheds light on the bank's efforts in reaching out to markets to ensure that there is broad awareness of the significant improvements in its procurement approach and the new business opportunities available.

Erik Bethel, newly appointed alternate U.S. executive director for the World Bank Group, will provide welcome remarks. RSVP NOW.
 
China Import and Export Fair 2018 - A Business Opportunity for Southern California Companies, Aug. 23
The Chamber, in partnership with China Foreign Trade Centre (Group), will host a briefing to learn about the many opportunities available at the 2018 China Import and Export Fair, also known as the Canton Fair, in Guangzhou, China, taking place from Oct. 15 to Nov. 4, 2018. The Fair is an opportunity for Southern California companies to source or exhibit products. Ken Zhang of the International Communication Department with the China Foreign Trade Centre will be speaking by video conference from Guangzhou, and will provide the latest details about the Fair and the benefits for businesses that participate. Local speakers will address effective approaches to product sourcing and/or attracting buyers and recent trade developments between Southern California and China. SOLD OUT!
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Diplomat members receive private briefing by Office of Mayor Eric Garcetti
More than 30 members of the Chamber's Diplomatic & Commercial Officers Group met with Amb. Nina Hachigian, deputy mayor of international affairs, and other key officials from the Office of Mayor Eric Garcetti last month, where they received an update on the City's international trade agenda and key global partnerships. The group also received key information about available resources for foreign companies interested in investing in the Los Angeles region. Reports indicate that approximately 10,000 foreign-owned firms have commercial and industrial presence in Southern California. "The Mayor's Office looks to the consular corp. as a key partner as the City continues to build a strong global agenda," said Amb. Hachigian. Attendees included the Consul Generals of Egypt, Angola and Ethiopia.
 
The Diplomatic & Commercial Officers Group provides the infrastructure and venue where members of the consul corp. and trade offices can develop their own trade strategies and programs as they perform their professional responsibilities. To date more than 40 countries are represented in the initiative.
 
Italian Consulate facilitates agreement between Italian ports and Port of Los Angeles
Within the context of a multifaceted project, coordinated by the consul general of Italy in Los Angeles, Antonio Verde, the Port Authority Network of the Central Tyrrhenian Sea (Naples, Salerno and Castellammare di Stabia) and the Port of Los Angeles have signed a Memorandum of Understanding, pledging to exchange best practices on new technology, energy and environmental actions. The MOU was signed by District 15 Councilman Joe Buscaino, Harbor Commissioner Anthony Pirozzi, Antonio Gioiello, deputy executive director of development at the Port of Los Angeles, and Pietro Spirito, president of the Harbor System Authority of the Central Tyrrhenian Sea.
 
Additionally, on July 11, Spirito and the Italy-America Chamber of Commerce West, in collaboration with the Los Angeles Area Chamber of Commerce, hosted a preview breakfast presentation on the new Special Economic Zone of the Campania Region of Italy, the future hub of European transshipment. For more information, contact IACCW.
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NAFTA credited with creating more than 33 million middle-class jobs across America
Last week, Canada's embassy in Washington, D.C., launched a video, NAFTA Works for the American Economy, that talks about why NAFTA is integral to the continued growth of the American economy, and those of Canada and Mexico, and why it's so important that NAFTA be modernized so that its benefits are more widely shared. NAFTA has made it easier for Canada and the United States to do business, and the results speak for themselves: bilateral trade has doubled, Canada is the United States' largest customer, and today Canada buys more goods from the United States than China, Japan and the UK combined. Moreover, Canada and Mexico held the top two export destination spots for 26 states in 2017, including eight of the 10 biggest state economies. All of this growth has resulted in the creation of more than 33 million middle-class jobs in the U.S. since NAFTA's inception. VIEW THE VIDEO.
 
Canada's premiers address US governors to defend commercial ties
Last month at the Council of the Federation meeting, all 13 Canadian premiers signed a letter addressed to Gov. Brian Sandoval and to all U.S. governors, inviting them to defend the common interests of Canada and the United States, specifically with regards to the commercial relationship between the two countries.

"As leaders, we have the responsibility to work together to overcome issues that are impacting prosperity, jobs and competitiveness on both sides of our border. We are appreciative of your recent efforts to make your voices heard on these important issues. Accordingly, we are asking today for the continued support and partnership of all governors to maintain and strengthen the prosperity and competitiveness of the North American economic space." READ THE LETTER.
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Passenger traffic rises by double digits at Ontario International Airport
Passenger traffic at Ontario International Airport rose for the first half of 2018, according to an article in the Los Angeles Business Journal. In June alone, passenger traffic jumped 14 percent to 381,312 passengers, capping an 11.6 percent increase to nearly 2.44 million passengers for the first half of 2018. READ MORE.
 
Port of Long Beach Sets All-Time Record for Busiest Month in 106-Year History
The Port of Long Beach set an all-time record for its best month this July when cargo volume surged, surpassing a previous record set in August 2015 for the number of containers moved across its docks. Port officials said a total volume of 720,312 twenty-foot-equivalent units (TEUs) were transported in and out of the harbor in July, resulting in increased cargo traffic for five consecutive months in Long Beach, and in six of the first seven months of 2017. Compared to 2016, volume is up 6.4 percent for the calendar year. Container business in Long Beach was overall 13.1 percent higher in July compared to the same month last year. Imports increased 16.3 percent to 378,820 TEUs--also setting a record in the Port's 106-year history--as retailers anticipate consumer demand for goods in the coming months, according to a release from the port. Exports fell 11.7 percent to 126,098 containers. READ MORE.
IN THIS ISSUE
 
TRADE COMMUNITY EVENTSevents
TAKE ACTIONaction
 
 
How are tariffs impacting your company?
 
The tariffs imposed by the U.S. on our trading partners have prompted approximately $75 billion worth of retaliatory tariffs on American products.
 
Now the administration is preparing or considering hundreds of billions of dollars in additional tariffs - including on autos and auto parts - all of which will invite more retaliation against American businesses.
 
The L.A. Area Chamber is partnering with the U.S. Chamber of Commerce and business organizations all over the country to urge the Trump administration not to move forward. If your business has already been impacted by tariffs, please share your story here.
EXPORT DOCUMENTATIONexportdoc
 
THE OPPORTUNITYopportunity
 
 
The New Digital Economy: Creating Thailand-U.S. Commercial Opportunities,
Sept. 24-25
 
The Thailand Board of Investment is delighted to inform you that the U.S. Chamber of Commerce, together with the Thai Chamber of Commerce and AMCHAM Thailand will organize a business seminar in Bangkok, Thailand, Sept. 24-25, on "The New Digital Economy: Creating Thailand-U.S. Commercial Opportunities" at Dusit Thani Hotel, Bangkok, Thailand.
 
This is a good opportunity for companies that are looking to expand their business in Asia. There is no fee to attend, but participants are responsible for their own travel and hotel expenses. A limited number of rooms have been set aside at a preferential rate at the Dusit Thani Hotel. The program agenda can be viewed.
 
For more information, contact Javiera Gallardo.
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