The U.S. has exported very little to North Korea this year, although that hasn’t always been the case. Tensions are reaching new heights, but U.S. exporters are still allowed to export to North Korea as long as the customer is not a person on the Specially Designated Nationals and Blocked Persons List, nor a member of the Government of North Korea or Workers’ Party of Korea. Exporters must also receive a license from the Bureau of Industry and Security. However, with such an isolated and restrictive government, the export market for North Korea is scarce and this year it’s dwindled to a trickle.
There have been several developments recently considered advantageous for U.S. exporters. The dollar has weakened, giving exports a boost forward with competitive prices once again, and the global economy is recovering at a faster pace. Also, a European logistics technologies company is getting creative with a new container design meant to save companies money.
India’s newly elected president, Ram Nath Kovind, is from the Dalit caste, also known as “the untouchables” within the Indian caste system. While India has taken steps to diminish the caste system’s effect on society, including outlawing caste discrimination in 1950, it hasn’t disappeared yet. The election of an “untouchable” as president, although said to be a political move by Prime Minister Narendra Modi to capture the Dalit vote, both defies and shows how pervasive this hierarchical system still is. Here we took a look at how the hierarchical culture affects doing business in India.
The global middle class is currently experiencing the most rapid expansion the world has ever seen. As middle class populations grow, so does their desire for choices, high quality goods and better service. These areas are where North Dakota companies shine and why middle classes around the world are a target market for many North Dakota companies. A recent report by the Brookings Institution provided an update on this unprecedented growth, with findings as follows.
Stepping inside of the Fargo Jet Center will make you want to fly exclusively via private aircraft. A luxurious passenger facility with floor to ceiling wrap-around windows, a fireplace and cozy leather chairs welcomes travelers as they wait, with a freshly baked muffin, for their plane to be refueled. One look into the elegant washrooms will leave you wishing that you never had to connect in Denver again. However, the Fargo Jet Center is more than what they call a fixed-based operator (FBO) in aviation jargon, it also imports and exports airplanes, maintains and upgrades aircraft, has a Charter division to take you wherever you want to go and a flight school to get you flying yourself.
Precision Equipment, Dakota Air Parts and Summers Manufacturing are on a streak of success as they visit international markets and capitalize on a federal grant that partially funds international sales travel. All three companies have increased their export sales as of late, in large part due to travel to foreign markets. Each company was kind enough to share details on the progress they’ve made while using the State Trade Expansion Program (STEP) to offset travel expenses.
The Customs-Trade Partnership Against Terrorism (C-TPAT) was created in November 2001 in response to the 9/11 attacks. It is considered one layer of the U.S. Customs and Border Protection’s (CBP) multi-layered cargo enforcement strategy. C-TPAT is a voluntary program and there is no fee to join. It allows a company to work closely with the U.S. Government in its war against terrorism and receive a reduced number of examinations at the border. But who should apply and what must a company do to get C-TPAT certified?
Posi Lock Puller Inc., a family-owned gear and bearing puller manufacturer headquartered in Cooperstown, ND, was named North Dakota’s 2016 Exporter of the Year on May 24 for its international expansion and support to the state’s export community. In addition, the North Dakota Soybean Council, a non-profit organization representing soybean farmers, received the 2016 Service to Exporters Award for its dedication to assisting North Dakota soybean companies. Lt. Gov. Brent Sanford presented the awards during the Global Business Awards ceremony, the annual international business event hosted by the North Dakota Trade Office (NDTO).
U.S. Secretary of Commerce Wilbur Ross presented the North Dakota Trade Office with the President’s “E” Award for Export Service at a ceremony in Washington, D.C., on May 22. The President’s “E” Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports.
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.