Pacific NW Trade eNews

Vol. 5, Issue 1

SE Asia as a Brightspot on the Horizon

Trade dynamism in Southeast Asia is leading to a rapid shift in traffic at our Ports. Here is the new US plan to move us forward

FOCUS ON POTENTIAL

As explained in our previous article on the Regional Comprehensive Economic Partnership (RCEP) and in our article that foresaw realistic federal government's policy options for not being left out of the world's largest and most dynamic trading block, SE Asia is very much worthy of our region’s focus.

NWSA UPWARD TREND

As per the graphs presented here, according to the Northwest Seaport Alliance Annual Reports between 2017 and 2021, the value of trade coming to our ports from SE Asian countries has increased by about 46% in four years. Moreover, the volume has increased by about 48%, with a notable dip in 2020 during pandemic disruptions.

EXPORT POTENTIAL

Our exports, not shown here, have increased by only about

5% by value and have decreased by about 24% in volume. This appears where there is untapped potential. What's the new plan to address this coming out of DC?

THE IPEF

The administration’s new Indo-Pacific Economic Framework (IPEF) is not a multilateral-trade-agreement replacement for the Trans-Pacific Partnership, but it does aim to be at least a start toward engaging the region by proactively establishing parameters for the digital economy, supply chains, the environment, and by addressing corruption. Find a summary here.

The IPEF is sure be a focal point as the US hosts the Asia Pacific Economic Cooperation (APEC) Summit in 2023.

How successful will it be in promoting trade with SE Asia? Stay tuned to this newsletter to find out!

As the NWSA's top trading partner in SE Asia, Vietnam is becoming more important to us; and, the WTC Tacoma aims to support our members and sponsors in this growing market.

We will host an in-person Trade & Investment Mission to Vietnam from October 25 to November 3.

Objectives include export promotion, diversification of supply chains, expanding business networks, attracting investment, and learning about the market and culture.

Interested? Find out more here or write to info@wtcta.org.

Celebrate Local Savvy in International Trade

Join us in person as we reveal the local award recipient selected for excellence in international trade at our 28th Annual Globe Awards.

Live Music
Drawings for Prizes
Appetizers and Cocktails

Find out more and to register here

Featured in the Chamber's new Podcast Series

In a popular new podcast, Tacoma-Pierce County Chamber President & CEO Andrea Reay interviews the WTC Tacoma's Michael Fowler.

Listen to find out what the WTC Tacoma has been up to as well as what's coming ahead!

Click here to listen as well as connect the entire series.

Upcoming CAR Reception

The World Trade Center Tacoma is proud to be a Consular Annual Reception (CAR) Deputy sponsor for this "only in Tacoma" event on Wednesday, October 12 5:30pm-7:30pm at the Tacoma Art Museum.

Come out to greet the consuls along with author, travel writer, activist, and television personality Rick Steves. Steves will present on "Travel as a Political Act."

Click here to find out more and to register.

WTC Tacoma Trade Desk

The Trade Desk is an affordable, state-of-the-art service desk of international market-specific experts perfect for:

an entrepreneur with a vision needing help putting an international plan into action,
a small business seeking to expand internationally, or
an established mid- to large-sized company searching out new international suppliers or customers.

Click here to inquire