KOREAN AMBASSADOR TO SPEAK ON U.S. TRADE AGREEMENT

Trade between the U.S. and Korea reached $78.3 billion in 2006. The U.S. is Korea’s number two trading partner, having recently been surpassed by China, which is now Korea’s main trading country. Korea is the seventh largest exporter to the U.S. and the fifth largest importer of U.S. agricultural products. Korea was Louisiana’s sixth largest export market in 2006 with total imports of $834 million from the state. U.S. investment in Korea totals $36 billion.

Amb. Lee has been the Republic of Korea’s Ambassador to the United States since November 2005. A career diplomat, he joined Korea's foreign service in 1973 and began his career with postings to Liberia, the Philippines, Austria, Yugoslavia, and the European Union. Prior to his current assignment in Washington, he served as Korea’s Ambassador to Israel, Ambassador to the United Kingdom, and Vice Minister of Foreign Affairs and Trade in Seoul. Amb. Lee holds degrees in international relations from Seoul National University and the School of Advanced International Studies at Johns Hopkins University.

LOUISIANA TRADE MISSION TO MALAYSIA FOR OFFSHORE SHOW

The trade mission is planned around the Offshore Asia 2008 trade show in Kuala Lumpur, and will include site visits and pre-arranged meetings with potential agents, distributors, joint venture partners, and end users. Also included are a country/industry briefing, a high-level reception, and other group benefits.

Malaysia uses mostly American-made oil and gas equipment and at least 60% of ail imports come from the U.S. In 2006, the Malaysia market for oil and gas equipment (excluding rigs, platforms, modules, jackets, marine vessels) was estimated at $700 million. For services (leasing of vessels, drilling rigs, etc. ) and fabrication of offshore platforms and other structures, the market was estimated at $2.0 billion. The best prospects include equipment and services critical to drilling operations, water pollution control and prevention technologies, systems and equipment, IT hardware, software and devices, healthcare, medical devices and insurance. (Market reports are available for these sectors.)

To obtain more information or a trade mission information packet, contact Delilah DeSouza via email at delilah.desouza@mail.doc.gov or tel. 504-915-3301. Participation is limited and on a first-paid basis. The application deadline is January 15, 2008.

WORLD TRADE CLUB TO HOLD JANUARY 16 LUNCHEON

AMB. JAMES JOSEPH TO SPEAK ON LEADERSHIP AND PUBLIC VALUES

Amb. Joseph, a former U.S. Ambassador to South Africa, founded the Center for Leadership and Public Values at Duke University in 2002. The Center, in partnership with the College of Business at Southern University (Baton Rouge) will, over the next several years in response to the challenges created by Hurricanes Katrina and Rita, recruit, train and provide reinforcing support for successive 25-member classes of Fellows.

These will be women and men who are nominated by senior leaders in the business, non-profit and public sectors throughout Louisiana and are offered Fellowships based on competitive review of their applications. Fellows will be predominantly African-American, mid-career leaders who are on fast tracks to senior positions in their fields and who demonstrate a sincere interest in understanding and applying universal moral values to their lives and work.

The program’s faculty is led by Amb. Joseph, a graduate of Southern University and Yale University. He has served as a Vice President at Cummins Engine Company and President of the Cummins Foundation, as CEO of the National Council on Foundations, as Under Secretary of the Interior (in the Carter Administration) and as American Ambassador to South Africa from 1996 to 2000.

Amb. Joseph founded the Center for Leadership and Public Values at Duke (and its counterpart at the University of Cape Town) and serves presently as Professor of the Practice of Public Policy Studies. He is also Chairman of the Louisiana Disaster Recovery Foundation established by Governor Kathleen Blanco.

CENTERAUSTRIA CELEBRATES 10TH ANNIVERSARY ON FEB. 7

In the fall of 1997 CenterAustria was opened at the University of New Orleans in order to coordinate and intensify UNO's ongoing activities with its partner university in Innsbruck and other Austrian institutions. Since 1976 UNO has maintained a very successful International Summer School in Innsbruck and has sent thousands of students to study in the heart of Europe.

In 1983 UNO signed an official partnership treaty with the Leopold-Franzens-Universität Innsbruck. This has sparked numerous student and faculty exchanges, annual academic symposia and publications. The cities of New Orleans and Innsbruck also signed a sister city agreement in 1995. In 2000 the Austrian Marshall Plan Foundation recognized this model transatlantic partnership between the universities of New Orleans and Innsbruck by honoring UNO with a major donation to start a visiting Marshall Plan Chair program.

More than 300 Austrian students have studied at UNO for a year and returned with UNO degrees to Austria. The Austrian Student Program each February has brought over 800 Austrian students to UNO for a month-long course of American Studies. UNO's Academic Year Abroad program in Innsbruck has brought dozens of UNO students to Innsbruck to study there for a year. These student and faculty exchanges have become a vital transatlantic link of citizen diplomacy.

MANUFACTURING TECHNOLOGIES EXPO FEBRUARY 7-10 IN MUMBAI

ALIMENTARIA FOOD SHOW IN BARCELONA MARCH 10-14

FUTURALLIA WORLD SMALL BUSINESS FORUM IN QUEBEC CITY

Futurallia is an annual World Small Business Forum where small business leaders can participate in two days of high-level meetings in a warm and inviting atmosphere. Futurallia Quebec 2008 will welcome more than 1,200 participants from 25 countries and will generate more than 8,000 pre-organized meetings over two days. In addition to those personalized meetings, participants will have the opportunity to meet with hundreds of exhibitors. Futurallia Quebec 2008 is therefore an ideal forum for meeting prospective business partners from around the world.

Furthermore, you are sure to enjoy doing business in the heart of Québec City, France’s very first North American colony, which will be marking its 400th anniversary in 2008. A wide variety of exciting events are being organized to celebrate the theme of Meetings and Encounters! Futurallia Québec 2008 is the ideal way to discover Québec City’s rich history and warm hospitality. The organization of Québec 2008 is supported by major partners, such as Canada government (DEC), French government, Quebec government (MDEIE) and Société du 400e anniversaire de Québec. For more information about Futurallia Québec 2008, visit www.futuralliaquebec2008.com. 

WTC LANGUAGE CLASSES TO START ON JANUARY 21

U.S. CHAMBER CONFERENCE ON AMERICAN TRADE AGENDA

NEW U.S. - PERU FREE TRADE AGREEMENT SIGNED INTO LAW

Last year, Peru’s economy expanded by more than 7.5 percent, and over the past three years trade between the U.S. and Peru has more than doubled to nearly $9 billion. Implementing the free trade agreement with Peru will expand this trade even more and create new opportunities for citizens in both nations. Once implemented, the agreement will create new opportunities for U.S. exporters by immediately eliminating duties on about 80 percent of U.S. consumer and industrial goods sold in Peru, and will eliminate all remaining duties within 10 years.

The agreement will also immediately eliminate duties on more than two-thirds of U.S. agricultural exports to Peru and eliminate most of the remaining duties over the following 5 to 15 years. Also, by removing barriers to U.S. services and investment, the agreement will help create a secure, predictable legal framework that will help attract U.S. investors to Peru.

TWIC ENROLLMENT TO BEGIN AT PORT OF NEW ORLEANS

U.S. TRADE DEFICIT DECLINES AS EXPORTS RISE WITH WEAKER DOLLAR AND STRONGER GROWTH OVERSEAS

The Commerce Department reported that the current account trade deficit fell by 5.5 percent to $178.5 billion in the July-September quarter. That was a better-than-expected showing and the smallest current account imbalance since a $173.4 billion deficit in the third quarter of 2005.

The current account is the most comprehensive measure of trade because it includes not only trade in products and services but also investment flows between countries.

The current account deficit had set all-time highs for five consecutive years but has declined for two consecutive quarters, prompting economists to predict that this year will see the deficit finally start to decline.

The improvement reflects in part the decline of the dollar against many other major currencies. A weaker dollar makes U.S. products cheaper in foreign markets while making foreign goods more expensive for American consumers.

The deficit in goods shrank by 2.2 percent to $199.7 billion in the third quarter as record levels of export sales helped offset a rising foreign oil bill.

The surplus in services, items such as airline tickets and consulting fees, increased by 3 percent to $26.5 billion. The surplus in investment income flows surged by 61.5 percent to $20.5 billion. The only deterioration occurred in the category that includes foreign aid, which rose to $25.8 billion, up from $23.2 billion the previous quarter.

The decline in the current account deficit left it at 5.1 percent of the country’s total economic output, down from 5.5 percent from the second quarter. That was the lowest level in terms of GDP since the first quarter of 2004.

The government reported that the monthly deficit in just goods and services rose in October to $57.8 billion, reflecting record oil prices and a record deficit with China. While it was the highest monthly imbalance since July, economists are still looking for the deficit for the year to decline as American manufacturers see export gains from the weaker dollar and stronger growth overseas.

However, the U.S. trade deficit with China is running at a higher rate than a year ago, putting it on track to surpass last year’s record and setting off a backlash in Congress, where many lawmakers are demanding that the United States impose economic sanctions on Chinese goods for what they see as unfair trade practices such as China’s manipulation of its currency to gain trade advantages.

Treasury Secretary Henry Paulson led a delegation of Cabinet officials to China recently for the third round of high-level talks, but those discussions failed to achieve any breakthrough on the currency issue.

WTC SEEKS PART-TIME ADMINISTRATIVE ASSISTANT