Pulling from our friends at the Federation of International Trade Associations, there are opportunities for Oklahoma businesses to boost their bottom line by trading with partners in Chile.

According to U.S. Census data, trade between the United States and Chile totaled $24.1 billion in 2015, with the U.S. exporting a total value of $15.4 billion and importing $8.7 billion worth of goods.

The main goods exported by the United States include mineral fuels, aircraft and machinery as well as vehicles. The main goods imported from Chile include copper, agricultural products and wood products.

Check out the Chileyello business directory to find potential partners and sectors.

For the full country report from Chile by the Federation of International Trade Associations, click here.

Shared from our friends over at GlobalTrade.net, Oklahoma-based companies have an opportunity to expand their business interests with trade partners in the eastern Mediterranean and Middle East. According to the latest country report from GlobalTrade.net, trade between the U.S. and Israel has expanded eightfold since the signing of the countries’ free trade agreement.

As noted in the report, “while technical barriers persist for agricultural goods, Israel has been removed from the watch list of countries not adequately protecting intellectual property rights, opening the way for new business opportunities.”

Navigating those technical barriers might be a concern, but for Oklahoma companies there are partners available right here at home that may help facilitate a smooth transition. Current OKGIT chair Susan Robertson, head of the Oklahoma Israel Exchange (OKIE), is just one of the partners available for Oklahoma firms interested in establishing ties with Israeli commercial and trade partners.

Read the full report on Israel from GlobalTrade.net here.

Available through the EXIM Bank of the United States of America on July 26, Oklahoma exporters can log in from the comfort of their offices or home to learn about credit insurance and tax credit assistance when shipping their products abroad.

Register for this free webinar taking place at 1 p.m. Central Standard Time here.

EXIM will host a brief, one hour webinar on IC-DISC and Export Credit Insurance. For those of us outside the complicated realm of federal government-inspired acronyms, IC-DISC is an IRS export tax credit program that helps small and medium sized American firms reduce their tax burden.

Presenters will include:

  • Jennifer Simpson – Regional Director, EXIM Bank
  • Paul Ferreira – President, Export Tax Management
  • Adrienne Selko – Panel Moderator, Senior Editor at IndustryWeek

If you think your firm may be among the 50 percent of American SMEs who are overpaying on their export taxes, this is the webinar for you. Link to the registration page here.

It seems that the political situation in the United Kingdom changes by the hour following the late-June referendum sending the U.K. out of the European Union. Despite trade between the U.S. and U.K. accounting for .5 percent of the former’s economic output, the interconnected nature of global markets and long cultural and historical ties between the two nations means that the impact will ripple across the Atlantic.

Naturally, global stocks markets have been bruised by the uncertainty, but closer to home, Oklahoma firms will also face challenges in the coming months as a result of the Brexit.

Exporters with customers inside the EU face challenges with the rising dollar, the increased value of which compared to the British pound, makes U.S. goods more expensive in Europe. The unclear regulatory environment, specifically for American firms with manufacturing operations inside the U.K. whose products are shipped to EU markets, may result in these firms facing higher costs in terms of items clearing customs and increased tariffs.

On the opposite side of the coin, for Oklahoma firms importing items from international producers, the influx of cheaper goods has the potential to benefit consumers here at home.

While President Obama’s pre-Brexit prediction that the U.K. would go to the back of the line if it left the EU in terms of a free trade agreement with the U.S., Speaker of the House Paul Ryan broached the possibility of the island nation joining NAFTA on June 28. Though no announcement of such a prospect emerged from the NAFTA leadership summit being held in Canada the following day, the addition of the U.K. would impact American businesses.

The combination of anemic domestic hiring numbers in the past two months combined with uncertainty in global markets may result in the U.S. Federal Reserve delaying its interest rate increase plan. According to Bloomberg, “Fed Chair Janet Yellen had been saying that an increase could be appropriate “in coming months,” but that language has been conspicuously absent from her speeches following a weak May jobs report.”

For Oklahoma’s small businesses and entrepreneurs though, the Fed’s delay could provide a short-term benefit. As noted in Forbes, “small business owners and aspiring entrepreneurs still benefit from low interest rates, relatively loose purse strings, and the efficiency of borrowing thanks to financial technology advances.”

For the time being, Oklahoma firms have an excellent resource for all of their questions through OKGIT partner Karen Bell, British Honorary Consul in Houston, whose diplomatic jurisdiction include Texas, , Arkansas, Louisiana and Oklahoma.

Looking for overseas investment and trade opportunities? Why cross the ocean when you can head south to huge potential markets in the Americans?

Registration is now open for the U.S. Commercial Service and the South Florida District Export Council’s international business conference that will show U.S. businesses how to take advantage of established and emerging export opportunities in the Americas.

This event will provide participants up-to-date market intelligence and help develop practical strategies for exporting your goods and services into new markets.

Discover Global Markets: The Americas will feature high‐ranking U.S. government officials, visiting U.S. commercial diplomats and specialists posted at U.S. embassies abroad and international business leaders.

Discover Global Markets: The Americas also will provide opportunities to network with U.S. trade officials and diplomats, industry experts and other U.S. exporters.

Register by April 15 to qualify for a reduced “Early Bird” rate of $349. Registrations received after April 15 are $395 per person.

Shared via our resident New Jersey connection, OKGIT member George Lee of Red Devil Inc., these trade events and opportunities will be  hosted via our partners at the U.S. Commercial Service’s Northern New Jersey office in the coming month. Many of these are webinars, so no need to fly out to the Garden State!

If you’re an Oklahoma business looking to expand your contacts with the fastest growing region in the world, now is the time to register for the 2016 Asia-Pacific Business Outlook Conference taking place in Los Angeles from April 18-19.

The early bird registration deadline is March 18!

The conference provides an opportunity for you, the business owner, to meet one-on-one with a U.S. senior commercial officer in consultations on your firm’s areas of interests. You will also be able to discuss:

  • Strategies to hone in on best market opportunities.
  • Sales potential and challenges in each of their markets.
  • Benefiting from Free Trade Agreements.
  • How the U.S. Commercial Service can identify new business
    partners and increase your sales.

For further information on the one-on-one consultations, email U.S. Commercial Service’s Jason Sproule or Erica Ramirez.

From our friends over at the U.S. Commercial Service, signups are now ongoing for the 2016 Asia Pacific Business Outlook Conference taking place on April 18-19 in Los Angeles. Its the

Learn more about 18 Asia-Pacific economies key for U.S. exporters.

Learn more about 18 Asia-Pacific economies key for U.S. exporters.

conference’s twenty ninth anniversary where trade and business executives from across the world meet to explore the commercial environment in the world’s fastest growing region.

The conference also provides an opportunity for attendees to meet in person with the senior commercial officers from American embassies and consulates in 18 economies. Part of these consultations will be market assessment reports specific to your company in each of the international markets of interest, though an early sign up is encouraged so that experts have time to asses just what each firm needs.

To learn more about the conference or for more information, email U.S. Commercial Service Representative Daniel Lew or register here. For questions regarding one-on-one meetings with commercial officers, contact U.S. Commercial Service Representative Jason Sproule.



Chuck Mills.

Chuck Mills.

As the deadline for renewal of the Export-Import Bank of the United States’ charter approaches at the end of June, some congressional representatives promise they’ll allow the vital American economic tool’s existence to lapse.

In an article by Andrew Taylor of the Associated Press, House Financial Services Committee Chairman Jeb Hensarling said he wants the bank’s charter to expire without a vote and said that “the momentum is in our favor.”

“This is going to be a critical vote, or hopefully a non-vote, on the future of the Republican Party and the future of our economy,” Hensarling said.

Despite pleas from House Speaker Jon Boehner that such a move would risk thousands of American manufacturing jobs for workers whose products are shipped abroad and guaranteed through the EXIM Bank’s export credit insurance, it appears Representative Hensarling’s move to kill the vital government program may succeed.

The OKGIT’s Chuck Mills, who is also the 2014-2015 Chairman of the Oklahoma Chamber of Commerce and a third generation small business owner and exporter, penned an op-ed in the Tulsa World countering claims that the EXIM Bank is government subsidized corporate welfare and a burden on Oklahoma’s small businesses.

According to Mills, “the bank is a government agency that has, in fact, returned $7 billion to the government since 1992, while enabling businesses like ours to enter to new markets through the safety net provided by the bank’s export credit insurance offerings.”

Randy Kellogg

Randy Kellogg

He also touched on the repercussions should the bank’s charter not be renewed, writing “Three generations of my family have been manufacturing quality earth drilling products worldwide for a range of drilling types, right here in Shawnee. We sell drill bits, augers, and other equipment overseas, with exports now accounting for about 20 percent of our business. The export-import bank enabled us to cultivate many of these overseas opportunities — which would ultimately be jeopardized if the bank lost its charter, along with our 20 employees.

“In the Sooner State alone, since 2007, over 115 businesses received export-import bank financing that supported over 7,000 jobs. Losing that financing and the bank’s credit insurance offerings would deliver a harsh blow to businesses throughout the state.”

The OKGIT’s Randy Kellogg, an approved lender with many years of experience in assisting Oklahoma firms do business with EXIM, also spoke in favor of the charter’s renewal at the group’s March 2015 meeting.

“Export-Import helps keep a level playing field for Oklahoma companies on international markets…it doesn’t help finance foreign governments as some critics suggest or only benefit big companies. Its financing helps smaller manufacturers who are indirect exporters when they supply firms like Boeing Company…”

Sawyer Manufacturing Co.

Sawyer Manufacturing Co.

The most obvious success story of EXIM’s support on Oklahoma-based businesses is Sawyer Manufacturing, which was just named the Small Business Administration’s National Exporter of the Year.

In an EXIM feature on the Tulsa-based small business‘ use of the banks financing, Sawyer Manufacturing’s Vice-President Dave Hembree said  that “the ability to extend credit on international sales allows us to grow our business in existing international markets and export our products to new countries by giving our international distributors more flexibility to invest and market our products. Credit terms provided to our international distributors in these markets allow them to better compete, so it makes our U.S. made products more competitive in the international markets.

Dr. Jim Collard, John Curzon, Jennifer Springer and Ray Brown, Pipeline Equipment, Inc.

Dr. Jim Collard, John Curzon, Jennifer Springer and Ray Brown, Pipeline Equipment, Inc.

Among the estimated 94,000 attendees to this year’s Offshore Technology Conference in Houston, Texas were several representatives from the Lone Star State’s northern neighbor, including members of the Oklahoma Governor’s International Team.

Dr. Jim Collard of the Citizen Potawatomi Nation Economic Development Department, John Curzon of CCK Strategies and Jennifer Springer of the Oklahoma Department of Commerce were on hand as group representatives for an evening reception co-sponsored by the ODOC and OKGIT.

“Simply put, it was a great opportunity to showcase Oklahoma for companies from across the country and across the world,” said CPN’s Dr. Collard.

The annual offshore technology conference is an international affair with energy professionals from across the globe converging on Houston to meet and showcase new technologies, practices and ideas. While the conference is focused on energy industry issues, the diversity of industries represented by the 94,000 attendees offers opporunities to discuss issues as wide ranging as international trade, technological updates and financing for future projects.

If you’d like to learn more about the 2015 Offshore Technology Conference or future events like it, visit their website here. If you’d like to learn more about the Oklahoma Governor’s International Team’s participation in the 2015 event, please contact Dr. Jim Collard, John Curzon or Jennifer Springer for more information.