71778 Federal Register / Vol. 77, No. 233 / Tuesday, December 4, 2012 / Notices

DEPARTMENT OF COMMERCE Colombia has become one of the most toward free trade agreements. Panama’s stable economies in the region. dollar-based economy offers low International Trade Administration Improved security, sound government inflation in comparison with policies, steady economic growth, neighboring countries and zero foreign U.S. Infrastructure Trade Mission to moderate inflation and a wide range of exchange risk. Its government is stable Colombia and Panama; Bogota´, opportunities make it worthwhile for and democratic and actively seeks Columbia and Panama City, Panama, U.S. exporters to take a serious look at foreign investment in all sectors, May 13–16, 2012 Colombia. especially services, tourism and Bogota´, the capital of Colombia, AGENCY: International Trade retirement properties. Administration, Department of generates approximately 30 percent of Panama and the U.S. recently Commerce. the country’s total gross domestic implemented a Trade Promotion product (GDP). Bogota´ offers diverse Agreement (TPA) that has had the effect ACTION: Notice. business opportunities in almost all of eliminating some 90% of tariffs and economic sectors. duties on U.S. exports to Panama. But Mission Description The overall improvement in the even before the implementation of the The United States Department of national safety and security situation in TPA, the U.S. was Panama’s most Commerce is organizing a Trade Colombia has allowed the government important trading partner, with about Mission to Bogota´, Colombia and to focus on improving its infrastructure 30% of the import market, and U.S. Panama City, Panama. Dates are May development, which along with a boom products have enjoyed a high degree of 13–16, 2013. This will be an executive- in the extractive industries, has fueled acceptance in Panama. In 2011, U.S. led mission, which will focus on the growth of U.S. exports to Colombia, exports to Panama jumped 34% to $8.25 helping U.S. companies launch or including opportunities generated by billion—in no small part due to the fact increase their export business in the highway, hotel and housing that Panama’s economy grew 10.5%. promising sectors within the construction in Bogota´ and coastal cities However, international competition for transportation infrastructure markets of such as Cartagena and Barranquilla. The sales is strong across sectors including these two countries. The mission will government of Colombia has earmarked telecommunications equipment, include business-to-business $26 billion over the next 4 years for automobiles, heavy construction matchmaking appointments with local primarily road projects. However, on- equipment, consumer electronics, companies, as well as market briefings, going and future projects exist in airport computers, apparel, gifts, and novelty and networking events. In both modernization, sea and river port products. Colombia and Panama the governments developments, and rail line upgrades. In Panama now enjoys investment grade and private sector are investing some addition, most major cities in Colombia rating status, granting the Government $30 billion in infrastructure projects. As are looking for solutions to improve of Panama international recognition for a result, the mission will focus on internal transportation, including mass recent tax reforms and its record of export-ready U.S. firms in the following transit. A recently completed U.S. Trade steady GDP growth while keeping its sectors: Building products, construction Development Agency reverse trade deficits under control (even in 2009, a equipment, electrical power systems, mission focused on ITS highlights the dismal year for the world economy, safety and security equipment, airport opportunities that exist in Colombia Panama’s economy grew 2.9% and the supplies, logistics and distribution across the board in transportation Government of Panama’s deficit was solutions providers, port equipment, infrastructure. only 1% of GDP). Not only does the and intelligent transportation systems Colombia’s traditional acceptance of investment-grade rating lower the cost (ITS). U.S. brands as well as U.S. and of borrowing for the Government of international standards provide a solid Panama, but it sends a strong market Commercial Setting foundation for U.S. firms seeking to do signal that Panama, even while carrying Colombia business there. Moreover, the a debt ratio that is relatively high, is one implementation of the US-Colombia of only five Latin American countries to Colombia ranks solidly with the group Free Trade Agreement on May 15, 2012 achieve this distinction. of progressive, industrializing countries provided immediate duty-free entry for Panama’s economy is based primarily worldwide that have diversified 80 percent of U.S. consumer and on a well-developed services sector, agriculture, resources, and productive industrial exports to Colombia, with accounting for about 75% of GDP. capacities. Despite the global economic remaining tariffs phased out over the Services include the Panama Canal, crisis, Colombia’s economic prospects next 10 years. The Agreement also banking, the Colon Free Zone, are positive. In 2011, Colombia enjoyed opens the market for remanufactured insurance, container ports, and flagship 5.9% GDP growth and should maintain goods and provides greater protection registry. Panama is currently engaged in 4% in 2012. Colombia is attracting for intellectual property rights (IPR). the Panama Canal expansion project. record amounts of foreign direct This project, in conjunction with the investment (FDI), which is further Panama expansion of the capacities of its ports leading to rapid industrial development, Panama has historically served as the on both the Atlantic and Pacific coasts, necessitating the need for improved crossroads of trade for the Americas. Its will solidify Panama’s global logistical infrastructure. In 2011, Colombia strategic location as a bridge between advantage in the Western Hemisphere. attracted $13 billion in FDI, and is on two oceans and the meeting of two This logistical platform has aided the pace to attract $15 billion in 2012. In continents has made Panama not only a success of the Colon Free Zone (CFZ), addition, per capita income continues to maritime and air transport hub, but also the second largest in the world after grow as Colombia’s middle class has an international trading, banking, and Hong Kong, which has become a vital doubled in the past 10 years. services center. Panama’s global and trading and transshipment center Colombia is the third largest market in regional prominence is being enhanced serving the region and the world. CFZ the region, after Mexico and Brazil, and by recent trade liberalization and imports—a broad array of luxury goods, is ranked 22nd as a market for U.S. privatization, and it is participating electronic products, clothing, and other exports globally. Over the past 10 years, actively in the hemispheric movement consumer products—arrive from all over

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the world to be resold, repackaged, and exports to Colombia and Panama by and representatives, as well as other reshipped, primarily to regional providing business-to-business business partners and government markets. Because of this product mix, introductions and market access officials. They will also attend market U.S. brand market share is significant, information. briefings by U.S. Embassy officials, as even if most of those products are made Mission Scenario well as networking events offering in Asia. further opportunities to speak with local The mission will stop in Panama City, business and industry decision-makers. Mission Goals Panama and Bogota´, Colombia. In each This trade mission is designed to help city, participants will meet with pre- Proposed Time Table U.S. firms initiate or expand their screened potential agents, distributors,

Monday, May 13, 2013, Panama City, Panama ...... Market Briefing. Matchmaking appointments. Networking reception. Tuesday, May 14, 2013, Panama City, Panama and Bogota, Colombia ...... Matchmaking appointments and/or site visits. Travel to Bogota in late afternoon/early evening. Wednesday, May 15, 2013, Bogota, Colombia ...... Market Briefing. Matchmaking appointments. Networking reception. Thursday, May 16, 2013, Bogota, Colombia ...... Matchmaking appointments and/or site visits.

Participation Requirements responsibility of each mission represented companies’) potential for participant. business in Colombia and Panama, All parties interested in participating Conditions of Participation including likelihood of exports resulting in the Executive-led Trade Mission to from the mission Colombia and Panama must complete • An applicant must submit a • Consistency of the applicant’s goals and submit an application package for completed and signed mission and objectives with the stated scope of consideration by the Department of application and supplemental Commerce. All applicants will be application materials, including the trade mission evaluated on their ability to meet certain adequate information on the company’s Referrals from political organizations conditions and best satisfy the selection products and/or services, primary and any documents containing criteria as outlined below. A minimum market objectives, and goals for references to partisan political activities of 15 U.S. companies and/or trade participation. If the Department of (including political contributions) will associations and maximum of 17 Commerce receives an incomplete be removed from an applicant’s companies and/or trade associations application, the Department may reject submission and not considered during will be selected to participate in the the application, request additional the selection process. mission from the applicant pool. U.S. information, or take the lack of companies or trade associations already information into account when Timeframe for Recruitment and doing business with Colombia and evaluating the applications. Applications • Panama, as well as U.S. companies or Each applicant must also certify that the products and services it seeks Mission recruitment will be trade associations seeking to enter these conducted in an open and public countries for the first time may apply. to export through the mission are either produced in the United States, or, if not, manner, including publication in the Fees and Expenses marketed under the name of a U.S. firm Federal Register (http:// and have at least fifty-one percent U.S. www.gpoaccess.gov/fr), posting on ITA’s After a company and/or trade content. In the case of a trade trade mission calendar—http:// association has been selected to association or trade organization, the export.gov/trademissions—and other participate on the mission, a payment to applicant must certify that, for each Internet Web sites, press releases to the Department of Commerce in the company to be represented by the trade general and trade media, direct mail, form of a participation fee is required. association or trade organization, the broadcast fax, notices by industry trade The participation fee will be $3,980 for products and services the represented associations and other multiplier large firm or trade association and company seeks to export are either groups, and publicity at industry $2,675 for a small or medium-sized produced in the United States, or, if not, meetings, symposia, conferences, and 1 enterprise (SME). The fee for each marketed under the name of a U.S. firm trade shows. Recruitment will begin additional firm representative (large and have at least fifty-one percent U.S. immediately and conclude no later than firm, SME, or trade association) is $450. content. Friday, February 15, 2013. The U.S. Expenses for travel, lodging, most Department of Commerce will review meals, and incidentals will be the Selection Criteria for Participation applications and make selection Selection will be based on the decisions on a rolling basis until the 1 An SME is defined as a firm with 500 or fewer following criteria, listed in decreasing maximum of fifteen participants is employees or that otherwise qualifies as a small order of importance: reached. We will inform all applicants business under SBA regulations (see http:// • Suitability of the company’s (or, in www.sba.gov/services/contractingopportunities/ the case of a trade association or trade of selection decisions as soon as sizestandardstopics/index.html). Parent companies, possible after the applications are affiliates, and subsidiaries will be considered when organization, represented companies’) determining business size. The dual pricing reflects products or services for the Colombian reviewed. Applications received after the Commercial Service’s user fee schedule that and Panamanian markets the February 15th deadline will be became effective May 1, 2008 (see http:// • considered only if space and scheduling www.export.gov/newsletter/march2008/ Company’s (or, in the case of a trade initiatives.html for additional information). association or trade organization, constraints permit.

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How To Apply mission participants may choose to 10%. Since the EU had already Applications can be downloaded from participate in a trade mission stop in implemented its FTA with Korea, U.S. the trade mission Web site or can be either: Japan and/or Taiwan. firms will now be in a stronger obtained by contacting Arica Young, Each trade mission stop will include competitive situation following KORUS Carlos Suarez or Enrique Tellez at the one-on-one business appointments with implementation. U.S. Department of Commerce (see pre-screened potential buyers, agents, Korea’s projected 2012 GDP growth is forecasted at around 3.6%, but could contact details below.) Completed distributors and joint-venture partners, come in slightly lower given global applications should be submitted to and networking events. Trade mission economic sluggishness. Its commercial Arica Young, Carlos Suarez or Enrique participants electing to participate in banks maintain strong reserves, in case Tellez. the Trade Winds—Asia business forum may attend regional and industry- of a possible worldwide slowdown or Contacts specific sessions and consultations with difficulties within the Euro zone. Korea Arica N. Young, Commercial Service CS Senior Commercial Officers based in will continue to focus its development Trade Missions Program, Tel: 202– Asia. on key growth sectors. Patents and 482–6219, Fax: 202–482–9000, Email: This mission is open to U.S. trademarks issued by the Korean Patent [email protected] companies and trade associations from Office exceeded 362,000 filings in 2010. Carlos Suarez, US Commercial Service a cross section of industries with growth The increasing trend in local patent and Colombia, Tel: 57–1–2752519, Email: potential in The Philippines, Hong trademark filings reflects the move [email protected] Kong, Korea, Japan and Taiwan, toward more technology-intensive and Enrique Tellez, US Commercial Service including but not limited to: Aerospace capital-intensive industries and Panama, Tel: 507–317–5080, Email: and aviation, automotive electronics, services. [email protected] computer services & software, consumer Best market prospects for Korea goods, defense industry equipment, include: The aerospace Industry, Elnora Moye, food processing systems, education, specialty chemicals; cosmetics; defense Trade Program Assistant. electrical power systems, electronic industry equipment; education services; [FR Doc. 2012–29306 Filed 12–3–12; 8:45 am] components, energy (both new and new and renewable energy, BILLING CODE 3510–FP–P renewable, entertainment and media, entertainment and media, franchising; environmental technologies and medical equipment and devices, services, financial services, franchising, pollution control equipment; DEPARTMENT OF COMMERCE healthcare & medical, hotel/restaurant semiconductors, and travel & tourism. equipment, housing products, industrial International Trade Administration Taiwan (Taipei) chemical, info. & comm. technology, With a population of 23 million, U.S. Trade Mission to Asia in information security services, logistics Taiwan is a thriving democracy, vibrant Conjunction With Trade Winds—Asia, development, machine tools and market economy, and a highly attractive The Philippines, Hong Kong, Korea, equipment, medical equipment and export market, especially for U.S. firms. Japan and Taiwan, May 9–17, 2013 pharmaceuticals, outbound travel and In 2011, Taiwan was ranked as the tourism, pet products, pleasure boats AGENCY: International Trade tenth-largest trading partner in goods and accessories, pollution control with the U.S., putting it ahead of Administration, Department of equipment, port construction, retail, Commerce. markets such as India and Italy. It is also safety and security equipment, the sixth-largest agricultural market for ACTION: Notice. semiconductors, specialty chemicals, the U.S., and the fifth-largest source of telecommunications equipment, foreign students in U.S. higher Mission Description transportation infrastructure, travel and education. Taiwan is the world’s fourth- The United States Department of tourism services. largest holder of foreign exchange Commerce, International Trade Commercial Setting reserves, with over $385 billion in 2011. Administration, U.S. and Foreign The Taiwan economy softened slightly Commercial Service (CS) is organizing a Korea (Seoul) after 2010, but still enjoyed 4% GDP trade mission to Asia, that will include On March 15, 2012, the Korea-U.S. growth in 2011. Unemployment has the Trade Winds—Asia business forum Free Trade Agreement (KORUS) went remained relatively low, and an in Seoul, Korea, May 2013. U.S. trade into force, becoming our nation’s largest appreciating currency makes U.S. goods mission members will participate in the Free Trade Agreement (spell out) since and services attractive to Taiwan Trade Winds—Asia business forum in NAFTA. The agreement has the buyers. Seoul, Korea (which is also open to U.S. potential to increase U.S. exports to Taiwan’s real GDP increased by 4% in companies not participating in the trade Korea by approximately $10–12 billion, 2011, and this growth was mainly mission). Trade mission participants and it will be especially beneficial for driven by strong export growth and may participate in their choice of U.S. small and medium enterprises private-investment expansion. In mission stops. On the first leg of the (spell out). addition, the tariff reductions and trade mission, prior to the Korean trade The amount of trade between, the U.S. exemptions from the Economic mission stop, participants may choose and Korea exceeded $100 billion for the Cooperation Framework Agreement to participate in a trade mission stop in first time ever. U.S. exports reached an (ECFA), which became effective on either: The Philippines and/or Hong all-time high of $43.5 billion and also January 1, 2011, helped spur Taiwan’s Kong. Trade mission participants may increased 12% over 2010 levels. exports to China. then choose to participate in a trade Korea is the United States’ seventh- However, Taiwan’s export growth mission stop in Korea, during which largest trading partner. The U.S. is the may be significantly impacted by the trade mission participants may third-largest exporter to Korea, with a New Taiwan dollar’s appreciation participate in the Trade Winds—Asia 9% market share. Key competitors against the U.S. dollar. Local private business forum. Following the trade include: China, with 16.8%; Japan, with consumption is expected to expand mission stop in Seoul, Korea, trade 15.3%; and the EU (27 nations), with continuously as a result of the recent

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