The Export-Import Bank (Ex-Im Bank) is on its way to being fully staffed, however with one unusual pick. Former New Jersey Congressman Scott Garrett was nominated by President Trump to be president of the Ex-Im Bank for the next four years, a surprising choice since he was once a vocal opponent of the bank’s existence. Former Alabama Congressman Spencer Bachus, an Ex-Im proponent, was nominated to the bank’s board to serve the remainder of a 4-year term that expires in 2019.
North Dakota companies returned from a trade mission to Peru last month, led by Agriculture Commissioner Doug Goehring, and focused on the state’s pulse exports. Four North Dakota companies traveled to Lima on April 23 to promote their beans, peas, chickpeas and lentils to Peruvian buyers during tours, meetings and the inaugural North Dakota-Peru ‘Better for You Food Ingredients’ Conference and Exhibition. Continue reading …
A U.S. – Ukraine Trade and Investment Forum is taking place this week, with visitors from Ukraine traveling to North Dakota and Minnesota to attend events on agricultural machinery and grain and oilseed processing technology. Twenty delegates from the Ukrainian agricultural sector visited Fargo area companies and took part in a networking event hosted by the North Dakota Trade Office (NDTO).
North Dakota’s exports have rebounded significantly in the first quarter of 2017, with a 58% increase in exports over the same period in 2016. Marked increases include commodities such as wheat, crude oil, agricultural machinery and specialty crops.
NDTO staff returned from attending the 2017 China Soyfood Processing Equipment Conference & Exhibition in Wuhan, China this week, where North Dakota food-grade soybean companies were represented. NDTO’s International Business Development Manager, Jiwon Kim, gave several presentations to an audience of Chinese buyers during the trip, which was largely funded by the North Dakota Soybean Council.
The United States currently has free trade agreements (FTAs) with twenty countries. Most recently, the US signed FTAs with Peru, South Korea and Colombia. These three FTAs have resulted in an increase of exports from the United States as well as from North Dakota. As free trade agreements are currently under the microscope, we took a look at the effects of these recent FTAs on North Dakota’s exports.
Superior Grain Equipment is a family-owned company that has grown from a concrete contractor for grain bin foundations to a grain bin dealer, then manufacturer of grain storage equipment sold around the world. The company has rapidly expanded its international footprint and in 2012 received the US Department of Commerce’s Export Achievement Certificate, followed by the 2014 North Dakota Exporter of the Year award. Here we asked International Sales Manager Jon Engelstad to share Superior Grain Equipment’s approach to exporting and some tales from the road.
The first rail-served intermodal container ramp has officially opened in the Twin Ports of Duluth, MN and Superior, WI. The opening is a result of a new collaboration between CN Railway and Duluth Cargo Connect.
Agriculture Commissioner Doug Goehring led seven North Dakota food companies to the Philippines last month with the goal of increasing North Dakota’s market share of commodities within the Philippine market. The trade mission introduced Filipino food buyers to the taste and health benefits of North Dakota specialty crops and soybeans. Meetings and events were held March 20-23 with the mission culminating at the inaugural North Dakota – Philippines ‘Better for You Food Ingredients’ Conference and Exhibition.
There have been several notable violations of the US’s export laws in recent months. The Bureau of Industry and Security’s Export Administration Regulations (EAR) and the Department of Justice’s (DOJ) Foreign Corrupt Practices Act (FCPA) are two pieces of legislation that dictate how US companies or US-traded foreign companies do business overseas. These recent violations of export laws illustrate how the laws are applied and serve as interesting examples of what not to do.