December news

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Welcome to the December 2011 edition of The Magnifying Glass. I hope you enjoy the articles and information within each monthly review. Your feedback is appreciated and if you have a question or interest in an industry, country, or other area, please let me know.

I wish to thank all who have supported All Clear Translation! My wish and prayer for each of you in 2012:

May today there be peace within.


May you trust that you are exactly where you are meant to be.


May you not forget the infinite possibilities that are born of faith in yourself and others.


Merry Christmas, Happy Holidays and a Very Prosperous New Year!
_______________________________________

Opportunities to Expand Globally with the Korean Free Trade Agreement

November 29th I attended a “Korea-Pittsburgh Evening” to promote the bilateral benefits of the Korea – U.S. Free Trade Agreement (KORUS FTA), recently affirmed by the U.S. Congress, signed by President Obama and waiting passage in Seoul. Mr. Franco Harris, Honorary Consul General of the Republic of Korea in Pittsburgh was introduced to the attendees as well.There were presentations highlighting the benefits of the trade pact, investment opportunities in Korea and the trade and investment environment in PA and the Pittsburgh region.

Here are some specifics about the US-Korea Free Trade Agreement, provided by David DelFiandra of LeechTishman.

• Nearly 95% of bilateral trade in consumer and industrial products becomes duty-free within 3 years of entry.

• Most remaining tariffs will be eliminated in 10 years.

• South Korea is the 7th largest market for US exports

• Opening the Korean economy should lead to growth for US economy by $10 billion annually.

• Korea’s exports to the US should grow by 12% or $5.4 billion

Want to know more? Email me for the full alert from LeechTishman.

Interesting Fact: Demand in Asia for U.S. grain has created more business for inland shipping companies. Barge Builders are seeing increasing demand for new barges!
Interesting Fact: China has taken over Japan as the 2nd largest economy in the world.

Ready > Set> Succeed
New PA program offers matching funds to develop International Markets!
Global Access Program(GAP)
Visiting an international trade show in 2012 and need multilingual marketing materials? Looking to have your website translated? The PA Global Access Program is designed to help with matching funds up to $5,000 per year for qualifying PA companies. GAP will help small to mid-sized PA companies to increase export sales. This valuable tool assists with foreign market entry support. For more information on qualifying for the grant, contact your Regional Export Network (REN) partner.

The Pittsburgh Partner office is:
Southwestern PA Commission
425 Sixth Avenue
Suite 2500
Pittsburgh, PA 15219-1852
Contact Jackie Pacheco
International Trade Specialist
(412) 391-5590 x332
jpacheco@spcregion.org


Newly appointed PA Manufacturing Advisory Council – Team PA
Governor Tom Corbett appointed the advisory council to address the decline in manufacturing in PA. Manufacturing jobs have fallen at twice the national rate in the last 10 years. In 2010 manufacturing jobs fell over 37% or 303,400 jobs lost. The 23-member group will also focus on talent and innovation, energy costs, efficiency, and research and development. Starting in January, they’ll meet regularly for about 6 months, after which they’ll issue a report and policy recommendations. No taxpayer dollars are being used to support the initiative! Visit www.TeamPA.comto learn more.

Don’t wait for their report for recommendations. Step up and increase your sales now!

Website translation. Low cost, high ROI!
FACTS:
• By adding one additional language, you can increase your sales by 40%
• When an Internet user is confronted by a website in their own language, they are 2 times as likely to stay and continue reading your site.
• People are 4 times more likely to buy from your site when in their native language.
• 40% of Internet users are not native English speakers
• Your competition is already multi-lingual, why give away sales?

Happy Holidays!
Linda