Blog

  • 06 Jan 2017 by Susan Sadigova

    Azerbaijan 

    Diplomacy, Trade and Investment

     Azerbaijan, the land of fire, is a name that conjures up the exotic but until recently was little known. However, this Republic in the Caucasus is becoming a rising star on the international stage and is developing into a key energy, security and trade partner for U.S. and Europe.

    Today, the nation is undergoing a transition from a purely oil-based economy to one that encompasses information and technology, industry, agriculture, tourism and much more. With nine of the world's eleven climatic zones, almost anything can, and does, grow in Azerbaijan - a boom to farmers. Keeping at the forefront of global development and progress, alternative energy sources are on par with oil production. Solar panel and wind turbine makers are eyeing the government's new incentives for the production of renewable sources of energy.

    If you want to learn more about Azerbaijan and vital topics of business and trade with this country, consider attending the USACC Annual Conference in Washington, DC on March 1-2, 2017. Global Chamber members who are working in the focus industries under discussion at this year’s conference may attend for free.

    Click HERE for more information and to register for the 2017 USACC Annual Conference.

     Best regards,

    Susan Sadigova

    Executive Director

    U.S.-Azerbaijan Chamber of Commerce (USACC)

     

  • 30 Jan 2017 by Phyllis Riley

     

     The View

    by Global Chamber Member - Tempus-US

    US$ Strength to be Tested with Change of the Guard

    A strong economy and policy divergence meets Donald Trump

    The economic reality of the U.S. looks much better than many expected. Although outlooks were downgraded throughout the past eight years, the Great Recession ended and the greenback solidified its status as the most trustworthy currency. Obama leaves the country in a healthier state than many predicted throughout his administration. With the aid of loose monetary policy from the Fed, unemployment fell to 5.0% and lower, reaching the “full employment” level. Manufacturers, often said to be under siege, found resurgence while services expanded. Banks used to be hesitant to reach into their reserves and lend, but Obama-backed policies allowed these institutions to flourish, even as they coped with strict, yet much needed, financial regulation under Dodd-Frank. The process of leaving a recession behind is painstaking, but the country is now increasing payrolls and jobless claims are at their lowest levels in four decades. One could even argue that pushing for insurance exchanges as the ACA (Affordable Care Act) was implemented, created new jobs and provided the previously uninsured an opportunity to spend on something other than high medical bills. Wage growth also experienced an uptick lately, but overall spending has been anemic. More importantly, higher educated workers represented a greater share of wage improvements, which increased inequality. That, of course, was unintended, but the technological advances of the last decade have changed the dynamics of the economy. Competition, deregulation, and subsidizing may be characteristic of the incoming administration, one that has pledged to revive business in areas with lack of prosperity, those with socio-economic deficiencies that demanded attention from the political class. 

     We believe the U.S. Dollar reached multi-year, if not record, highs against most of its peers based on merit and the ongoing disturbances of other regions in 2016. Although there is doubt in how the U.S. will handle new endeavors with such a supposedly drastic change in policymakers, we remain confident the economy can be steered competently. We cannot lose faith. In order for a fiat currency to work, participants in such a monetary system must maintain some level of faith in the markets. That also goes into more basic things like believing in the democratic institutions behind them. Hopefully, President Trump’s administrative assignments appreciate the value of stability and positive tone while the economy is on the right footing. We foresee volatility as countries around the world measure our reliability. Thus, we do not see the Fed incrementing its Federal Funds Rate more than once or twice. A calm and collected America can take leadership, but only if respect is bestowed upon ratified international trading agreements and authorities, even though major realignments may take place.

    Author: John Doyle, Director of Markets

     

    To read the entire market-update report, click HERE.  

    Join Global Chamber Baltimore-Washington on March 10th for a session on foreign exchange.  Experts from Tempus-US will be sharing information about Foreign Exchange Best Practices in Managing Export and Import Risk.  REGISTER HERE

             

  • 17 Jan 2017

    WCC International Joins the Global Tribe

    WCC International is an international trade and import/export management company, headquartered in Bethesda, Maryland. It serves as a “one-stop-shop” and offers support to its clients in cross-border trade, business development and partner identification.

    Since 2008, with the team of experts in international trade, global marketing and transnational taxation, as well as intellectual property and business law, WCC International helps its clients sell their products and services across international borders of the United States and select countries of the Caspian-Black Sea (CBS) region.

    While some organizations approach WCC International to meet a one-off or occasional need, others have established lasting business relationships with it, especially when they need to enter a new market, find a business partner, a buyer or a seller, source new products or ingredients, sell goods or deliver services across national boundaries.

    Whether you want to sell your products or offer services to customers overseas, or buy goods or services from abroad, and if your target market either U.S. or a particular country in the CBS region, feel free to reach out and schedule a meeting with WCC International expert atoffice@wccinternational.com to discuss the details of your product or service proposition.

    To learn more about WCC International and their services please click HERE.

    Click HERE to meet the members of their team.

     

     

     

     

     

  • 16 Jan 2017

     

    Small Businesses Learn About Export Assistance at Global Chamber Round Table 

    At our Global Chamber® Baltimore round table on January 11, 2017, small companies in the Baltimore/Washington region had the chance to learn about the various the resources and services that are available to help companies export more successfully  Our featured speaker for the event, Tammy Maxwell, head of Minority and Woman-Owned Business Outreach for EXIM Bank, described what financial services are available through EXIM Bank, as well as how to use them. She spoke about exporting of products, as well as exporting of services, which has high potential in today's global market.

    Additionally, we had the opportunity to hear from representatives from the Maryland Department of Commerce, the U.S. Export Assistance Center in Baltimore, the Small Business Administration and Global Chamber, who shared information about the export assistance each of their organizations provides.

    We were thrilled to have a over 30 people from the business community attend. With this great interactive group we had a good exchange of information and helpful business connections made.

    For more information about the export resources shared at this event:

    • EXIM Bank - Resources
    • Maryland Department of Commerce - Resources
    • US Department of Commerce - International Trade Administration - Resources
    • US Commercial Service - Baltimore Office - Resources
    • Small Business Administration - Resources
    • Global Chamber Baltimore/Washington - Resources