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

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Federal Register/Vol. 77, No. 233/Tuesday, December 4, 2012 71780 Federal Register / Vol. 77, No. 233 / Tuesday, December 4, 2012 / Notices 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 VerDate Mar<15>2010 17:31 Dec 03, 2012 Jkt 229001 PO 00000 Frm 00009 Fmt 4703 Sfmt 4703 E:\FR\FM\04DEN1.SGM 04DEN1 mstockstill on DSK4VPTVN1PROD with Federal Register / Vol. 77, No. 233 / Tuesday, December 4, 2012 / Notices 71781 economic recovery and low travel/tourism, along with hot new 5.6% of Hong Kong’s imports (2011) and unemployment. Improving ties with emerging sectors such as biotechnology, ranked the territory as the U.S.’s 10th China is expected to ease the current healthcare IT and nanotechnology. largest export market. Its major trading cross-strait and investment restrictions Most globally competitive American partners: Mainland China, United and encourage more foreign investments and international firms compete heavily States, EU, Japan, and Taiwan. Hong in Taiwan. With these changing factors, in the Japanese market, and partner with Kong has world-class infrastructure; a local officials forecast that economic Japanese firms worldwide. Savvy free flow of information; no restrictions growth for 2012 will be moderate, at an observers agree that an active on inward or outward investment; no annual rate of about 3.91%. engagement with the Japanese market foreign-exchange controls; no Taiwan’s best prospect sectors for remains critical to the success of nationality restrictions on corporate or U.S. exports include information American firms both large and small, sectoral ownership; a simple, low-tax communications and technologies, whether in Japan, in other world regime; and is a global financial hub. In safety and security equipment, markets, or even back home in the addition, Hong Kong citizens speak renewable energy technologies, United States. excellent English and the Hong Kong publishing services, education and Hong Kong Dollar is pegged to the U.S. Dollar. training services, travel and tourism, electronic components, pet products, Hong Kong, a Special Administrative The Philippines (Manila) and medical devices and equipment. Region of the People’s Republic of United States goods exports to the China (PRC) since its reversion in 1997, Philippines in 2011 were USD7.7 Japan (Tokyo) has proven resilient in past economic billion, up 4.5% (USD330 million) from Japan is the world’s third largest crises. Dominant and sustained drivers 2010, but down 12.3% from 2000. The economy, after the United States and of economic growth include private top export categories (2-digit HS) in China, with a GDP of roughly $5.9 consumption (retail), transportation and 2011 were: Electrical machinery, trillion. Japan is our fourth largest logistics, and business services, real machinery, cereals (wheat), optic and export market, receiving $66.2 billion in estate development (bolstered by medical instruments, and food waste goods and $47.6 billion in services from ongoing public infrastructure works), and
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