On Monday March 5^th, the World Trade Center Arkansas hosted Mrs. Kessiri Siripakorn, Commercial Minister to Thailand, along with nine of her fellow delegates for a business seminar to promote U.S. trade with Thailand.

The event was held at the World Trade Center’s headquarters in Rogers, and was attended by over 80 business professionals from throughout the state of Arkansas.

Minister Siripakorn opened up the seminar with an overview of bi-lateral trade between Arkansas and Thailand, highlighting the Thai region’s strengths among the world’s trade market, and the importance of a strong partnership between the two.

Mr. Perapat Uthaisri, Counselor to the Minister, followed Mrs. Siripakorn, speaking on Thailand’s economic structure and how it has come to obtain the 2^nd largest economy amongst the ASEAN (Association of Southeast Asian Nations) countries.  It is easy to see that with a minimal unemployment rate of 1.2%, as well as a 7.8% GDP increase in 2010, Thailand has succeeded in establishing a strong and promising economy.

Thailand’s robust economic growth has created numerous opportunities for U.S. foreign direct investment in a number of infrastructure sectors, including electrical power, transportation and renewable energy. Thailand is the 27^th largest export market for U.S. goods, making an astounding 21.7% increase in 2011 alone.  Mr. Uthaisri made it known that Thailand is the 16^th largest U.S. market for agricultural products, a key market for Arkansas businesses, which factored into the $25 million in goods that was exported from the Natural State to Thailand.  Arkansas does its fair share of importing from Thailand as well, with over 40 companies bringing goods into the state from 17 different Thai suppliers.

Mrs. Somjin Plengkhum, Executive Director of Thai Trade Center, New York also spoke during Monday’s seminar, showcasing the networking capabilities her company establishes between U.S. and Thai businesses looking to expand their product markets.  The Thai Trade Center provides professional business matching through trade missions to and from Thailand, trade fairs, and in store promotions of Thai products, with a focus on food, fashion and social media.  Mrs. Plengkhum noted a growing trend of Thai companies building their companies in the U.S. to maintain a strong partnership with American companies.

The seminar was concluded by Mr. Steve Johnson, Marketing Manager for the Tourism Authority of Thailand, based in New York.  His presentation gave the attendees a chance to see the true beauty of visiting Thailand for business…or pleasure.  World-class culture, an ideal climate, ease of accessibility through a strong infrastructure, and accommodations that rank second to none according to Steve, are all reasons for adding Thailand to your list of places to visit.

While in Northwest Arkansas, Minister Siripakorn and her delegates visited a few local businesses in the region, including the Fayetteville Chamber of Commerce, and were given a full tour of the Crystal Bridges Museum of American Art.

OWIT Celebrates 1st Year

October 14, 2011 marked the first-year anniversary for the Arkansas chapter of the Organization of Women in International Trade (OWIT), a professional organization designed to promote women doing business internationally by providing networking opportunities, export education and global business contacts.  OWIT’s Arkansas chapter hosted many of the International board members from as far as Geneva, Switzerland and as close as Bentonville, AR.

OWIT just recently celebrated its 20th anniversary as a national organization which held its first national conference in Washington D.C.   Today, OWIT is recognized worldwide for building ongoing trade relationships within and between global communities. OWIT’s organization serves in more than 20 countries within all continents around the globe.

Angela Hofmann, President of OWIT and Arkansas native, hosted the members of the board for an evening with Chef Dane of La Petit Bistro to kick off the weekend.  The intimate and flavorful evening gave the ladies a chance to reunite with their current members from various chapters worldwide.

Friday’s luncheon, hosted by the Arkansas World Trade Center (AWTC), gave the OWIT Arkansas chapter the opportunity to have a one-on-one session with guest speaker Luby Ismail.  Ismail, the founder and president of Connecting Cultures, a professional service providing presentations and training on communication and work in diverse and multicultural environments, presented her speech on “Cultural Competency”.  As a Muslim woman with multiple sclerosis, Ismail spoke about overcoming general bias in the work world and the ways culture plays a major part in everyday encounters.  Ismail says that “every encounter is a cultural encounter.  Understanding this is the only way you will reach full potential to build bridges and lead businesses that help improve our world.”

The first anniversary celebration of OWIT served as an evening of dinner and entertainment for over fifty of its international members.  The event was hosted at the beautiful Compton Gardens and dinner was provided by Catering Concepts of Bentonville, AR.  Luby Ismail returned as the guest speaker, and was followed by music from the T. Maechelle quartet.  The evening was a great way to end a successful year for OWIT, and served as a wonderful networking experience for each of the members in attendance.

Senator Pryor shares his "Six Point Solution" at the World Trade Center Arkansas

On October 25th, Senator Mark Pryor visited the World Trade Center Arkansas for a scheduled press conference introducing his “Six Point Solution” towards economic growth and deficit reduction.  Senator Pryor’s points brought light to the economic potential for Arkansas through National reform needed in Washington.

In his solution, Pryor called for: the reduction in deficit, expanded market access, the advancement of nanotechnology, expansion of clean and domestic energy and expansion of the production of products through the American Opportunity Act.  Within each area of the six point plan, Senator Pryor highlighted what the individual change could do for Arkansas’ job growth.  ‘’Lifting export restrictions in Cuba alone could potentially generate 480 new jobs for Arkansans”, says Pryor.   The Senator’s proposal for advancement of nanotechnology is estimated to bring in $1 trillion by 2015.  This technology would help support science parks in Fayetteville and Little Rock.

What would the reductions in budget be able to do for our national deficit?  Senator Pryor’s proposed cuts show just how much can be saved through a few of the following Acts:

• Government Excess Prevention Act (Saves $8 b.)       http://www.govtrack.us/congress/bill.xpd?bill=s112-477
• Federal Contractors Accountability Act (Saves $1.5 b.)http://www.govtrack.us/congress/bill.xpd?bill=s112-478
• Federal Real Property Disposal Act (Saves $1 b.)       http://www.govtrack.us/congress/bill.xpd?bill=s112-479
• Broadcast Savings Act (Saves $30m./year)                 http://www.govtrack.us/congress/bill.xpd?bill=s112-476
• Prisoner Fraud Reduction Act (Saves $134m./year)     http://www.govtrack.us/congress/bill.xpd?bill=s112-1367

 

Within all of the reform changes proposed by Pryor, the Arkansas Senator emphasized the solutions needed to invest in Arkansas’ infrastructure.  “Now is the time to make major investments’’, says Pryor.  “Modernizing our roads, rails, waterways and runways will create good-paying jobs in the near-term, while increasing productivity and expanding our exports in the long-term.”