5/21/2016 - 5/24/2016
5/24/2016 - 5/24/2016
Specific Services Offered
- Host an informational interactive website portal which will provide current resources, links and data to current information, trade statistics, and sources of assistance.
- Email blasts and direct mail outs to disseminate relevant trade information, leads, and opportunities.
- Seminars and workshops sponsored by FFI, MDA, and MEAC. Examples include “Export 101”, “Shipping Documents Requirements”, etc.
- Access to Export Assistance Programs available through the US Dept of Commerce.
- Access to participation in trade shows, trade missions, and individualized trade partner appointments in many other countries.
- Recruit international buyers to Tupelo Furniture Market.
- Interactive assistance with specific trade questions. International business students at Mississippi State University and trade specialists at MDA and MSEAC will be called upon for assistance with specific international trade issues.
- List of banks friendly to international trade.
- Work with the MSU College of Business and Industry to link international business interns to furniture manufacturers who can benefit from student assistance.
- Visits by trade specialists from MDA and MSEAC, and by FFI to furniture manufacturers seeking export assistance and guidance.
- Access to international trade specialists in other countries through MDA and US Dept of Commerce.
Current Market Spotlight: Australia
- Australia has one of the most outstanding economies in the world, the world's 12th largest, with high-growth, low-inflation and low interest rates in recent years. The economy has recorded 21 years of uninterrupted annual growth to 2013 and now enjoys the highest terms of trade in 140 years. The past performance of the economy in Australia has been heavily influenced by U.S., Japanese and Chinese economic growth. The U.S. is the largest direct investor in Australia, while Australia is the 10th largest source of foreign direct investment for the United States..
- Australian is the 5th highest per capita income in the world and its per capita GDP growth, currently over $68,000, is higher than that of the U.S., Canada, New Zealand, and The Netherlands.
- The Australia-U.S. Free Trade Agreement (AUSFTA) came into effect in 2005 and lowers barriers for bilateral goods and services trade, eliminating tariffs on 99% of all U.S. manufactured goods and 100% of U.S. agricultural products. The U.S. exported $30.8 billion in merchandise to Australia in 2012, an increase of 98.5% between 2005 and 2012. The Australian government supports FTA's that are consistent with the World Trade Organization rules and guidelines and Australia has FTA's with the U.S. Thailand, Singapore, Chile, Malaysia, and New Zealand.
- Australia's foreign exchange market is the 7th largest in the world and the Australian dollar/U.S. dollar is the fourth most traded currency pair globally. The Australian dollar is a fully convertible currency and the government does not maintain currency controls or limit remittance, loans or lease payments. These types of payments are processed through standard commercial channels, without governmental interference or delay.