Transcript U.S. Commercial Service U.S. Department of Commerce US Exports to South Korea Grand Rapids Export Assistance Center.

U.S. Commercial Service
U.S. Department of Commerce
US Exports to South Korea
Grand Rapids Export Assistance Center
U.S. Commercial Service
The U.S. Commercial Service is part of the U.S.
Department of Commerce, an agency of the United States
government.
Our mission:
 The U.S. Commercial Service promotes and protects U.S.
commercial interests abroad and delivers customized
solutions to ensure that U.S. businesses compete and
win in the global marketplace.
 Operates a seamless worldwide network of offices in
109 U.S. cities and at U.S. embassies and consulates in
80 countries.
Why Export?
• Exports mean new
customers. More than
70 percent of the
world’s purchasing
power and 90% of the
world’s population live
outside of the United
States.
• Exports mean jobs.
About one of every five
factory jobs in America–
depends on exports.
• During the past 25
years, U.S. exports
increased five-fold from
$224 billion to more
than $1.4 trillion in
2006.
Our Network &
What It Can Do For You
We can...
• Locate international buyers, distributors & agents
• Provide help at every stage of the export process
• Help you to enter new markets faster
Why Korea?
The 13th largest
economy in the
world and is an
outstanding trading
partner for the
United States.
Michigan Top Export
Countries - 2007
Total Worldwide =
$44,371,000,000
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Canada
Mexico
China
Japan
Germany
United Kingdom
Venezuela
France
South Korea
Saudi Arabia
25,631,000,000
5,206,000,000
1,313,000,000
1,308,000,000
1,267,000,000
743,000
693,000
679,000
627,000
545,000
Provided by the Office of Trade and Industry Information, Manufacturing and Services, International Trade
Administration, U.S. Department of Commerce
NAICS Total All Merchandise
Exports from Michigan to
South Korea in thousands
($ USD)
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Transportation Eq.
Chemical Manufactures
Machinery Manufactures
Primary Metal Manufactures
Processed Foods
Non-Metallic Mineral Mfgs
Computers & Electronic Prod
Fabricated Metal Products
Elec. Eq., Appliances & Parts
Furniture & Related Products
Leading Sectors for
Exports to South
Korea
Automotive Parts and
Accessories
CNC Machine Tools
Computer Software
Cosmetics
Defense Industry
Equipment
Drugs and Pharmaceuticals
Education and Training
Services
Engineering Services
Medical Equipment & Devices
Pollution Control Equipment
Security Services and Products
Specialty Chemicals
Travel and Tourism
Wireless Broadband Equip.
Getting Started
• Ask Tough Questions
• Do Your Homework
• Use Resources
Commercial Service Can
Provide Companies
• Export Counseling
• Gold Key Service
• International Market Research
• Training Programs
Market Research
Library
• Country Commercial Guides
• Industry Overviews
• Market Updates
• Multilateral Dev. Bank Reports
Market Research
Market
Research
Free Trade Agreements
•Current Agreements: Israel, Jordan,
Chile, Singapore, Australia, Morocco,
Bahrain, CAFTA and NAFTA
•Pending Congressional Approval: Peru,
Panama, Republic of Korea, and Colombia
•Pending Implementation: Oman
•Other Negotiations: Malaysia, Thailand,
SACU, UAE
FTA Facts
•Last year set a record with $1.4 trillion in total U.S.
exports
•Countries with which we have FTAs make up 7.5%
of the world, but 42% of exports
•The Korean FTA would eliminate 95% of tariffs on
consumer & industrial goods within 3 years
FAQ’s
•What is the first step in exporting?
•Do I need a license to export?
•Payment terms?
•Qualifications to be a representative?
•Travel vs. internet; why travel?
•Documentation?
Our Clients
Burke Porter is the undisputed leader
of automotive testing equipment in
South Korea. Market share has
reached the 90th percentile in several
categories.
Burke Porter, Grand Rapids, MI
“MDEC-West and GREAC have been
useful getting us information on
international markets, right down to the
products being sold, important suppliers,
and equipment sold in each country by
brand.”
American Litho/Konica Minolta
Grand Rapids, MI
“We attribute the growth in our
international business to the products we
build in North America.
The international market is opening up
and we see a lot of potential to grow”
Armstrong International, Three Rivers, MI
How to Contact Us
Thomas Maguire, Office Director
Kendra Kuo, International Trade Specialist
401 W. Fulton, Suite 349-C
Grand Rapids, MI 49504
Tel: 616-458-3564
Fax: 616-458-3872
Email: [email protected]
www.export.gov/cs
www.exportwestmichigan.com