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  Thursday, March 3, 2010         Issue 258         Volume 11 Number 5 Sponsor this Newsletter
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Dear International Traders,

This week in Really Useful Resources you will:

• Learn about doing business in Korea
• Find out how to calculate landed costs for your shipments using the Bongo International Shipment Consolidation Calculator
• See how countries around the world are opening their economies in the 2011 Index of Economic Freedom

We invite our subscribers to take a look at FITA Online's new website, Register (click on "Create profile" on the upper right corner of the home page) list your business and expertise and upload your content in the form of text, pdf files, PowerPoint presentations, videos and RSS feeds.

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South Korea
Business Despite Regional Instability

In December the US and South Korea signed a Free Trade Agreement (FTA) that will enhance exports from the US to South Korea and facilitate South Korean access to the US market. The Business Roundtable, an organization of US corporate CEOs, on February 18 called on Congress to ratify the agreement as soon as possible, saying that without the FTA the United States will lose further ground to international competition. Indeed, on February 17 the European Parliament approved a free trade agreement between South Korea and the European Union.

South Korea, the 15th largest economy in the world, has seen spectacular growth over the past few decades. Per capita income rose from $100 in 1963 to almost $20,000 today, and consumption patterns have changed dramatically. Korean consumers are turning increasingly to foreign products and are willing to pay for quality goods. The US is Korea’s second largest export and third largest import partner. The FTA is predicted to create many new business prospects for both American and South Korean businesses.

In terms of investment many incentives for US entrepreneurs wishing to invest in South Korea already exist. These include tax abatements, exemptions from customs duties, subsidies, etc., in sectors as diverse as support services to businesses, industries, high technology, research and development services, tourism services, etc. Many particularly interesting investment prospects exist in energy, pharmaceuticals, biotechnology and health care. For more detailed information about economic and fiscal incentives that exist in South Korea, visit: Invest Korea.

For more information about the markets and business climate in South Korea take a look at these websites:
KOTRA - the Korea Trade and Investment Promotion Agency.
Small & medium Business Corporation - a non-profit, government-funded organization established to implement government policies and programs for the sound growth and development of Korean SMEs.
The Seoul Business Agency - a public organization supporting and raising the support for small and medium size enterprises (SMEs) in Seoul, Korea.
The FITA Miniportal for South Korea - a good source of information about how to do business in South Korea

To help you do business in South Korea:
Website of the U.S. Embassy in Korea
Website of the American Chamber of Commerce in Korea
Website of the U.S. Commercial Service in Korea - the best resource for U.S. companies who want to enter the market

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It’s always fair weather somewhere
Even in the dead of winter, we can enjoy the fruits of summer from south of the equator. In Fresh from the Southern Hemisphere, the Datamyne blog looks at the trade data on table grapes, the second-ranked U.S. fresh fruit import (by value, just after bananas).

Most wintertime grapes come from Chile ... but Peru’s effort to position itself as a reliable alternative source is paying off. While it's share of the U.S. is still small, Peru has pulled ahead of Brazil overall, and made big gains on the East Coast, accounting for 34% of grapes coming into New York-New Jersey (compared with Chile’s 44% share).

You can see Peru’s gains – and a sample of the kinds of information about fresh-fruit sources our data yields – in our FREE Datamyne Tops in Trade Report. The report covers top shippers, consignees, carriers, ports of entry and destination states. Click here to download the report in pdf.

We can also show you how much you can learn about who’s selling and buying South American grapes (or any other agricultural imports) in our FREE online demonstration.
Click here to request a demo at your convenience.

Bongo International Shipment consolidation calculator

Bongo international, a logistics provider that delivers mail, parcels and goods worldwide from the US, offers on their website online a free Landed Cost Calculator that allows you to determine the total cost of your shipment to any country of delivery. It lists the most popular consumer goods and includes duties, taxes and shipping costs.

Access Bongos International Shipment consolidation calculator

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The 2011 Index of Economic Freedom

The 2011 Index of Economic Freedom is now available. Compiled by the Heritage Foundation and the Wall Street Journal, it gauges the economic success of 183 countries around the world based on 10 measures that evaluate openness, the rule of law, and competitiveness. The Index ranks economies according to what its researchers consider to be their economic freedom. Although they could be more balanced, the country comparisons they give is a good reference for evaluating international business environments.

• Download the Economic Freedom Map
• View the country rankings of Global Economic Freedom
• Read the highlights of the Index of Economic Freedom
• Find more on the 2011 Index of Economic Freedom website

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Sell Your Products in 178 Countries Worldwide for $499 in America’s Export Promotion Magazine

Advertising in Commercial News USA gets results. One U.S company recently sold 10 truck cabs into Africa, valued at over $150,000, after placing one ad in the magazine. Another manufacturer has attributed million of dollars in new business to advertising in Commercial News USA:

"Thanks to leads we have received from Commercial News USA, we have entered new markets in Canada, Iran, Lebanon, Mexico, Mongolia, Russia, Spain, The United Arab Emirates, The United Kingdom, The Ukraine and Vietnam."
Value-added benefits available for advertisers include:
• 35 word listing in print and online
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• Free online listings on the Commercial News USA Web site and in the Commercial News USA U.S. Exporter’s Directory.
• Free inclusion in both the print and online Reader Service Response Forms

Reserve your space in the next issue today. The deadline for the May-June 2011 issue is March 18th.

To reserve space, or for more information, send e-mail to, call 1-800-581-8533, x 822, or go online to


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Bridges to Canada 2011, Toronto, Ontario, Canada, March 21-22, 2011
The Asia Pacific Business Outlook Conference, March 28-29, Los Angeles, CA.
Ex-Im Bank's 2011 Conference: Strengthening America through Exports, Washington, DC, March 31 - April 1, 2011
ACCESS 2011 International Trade Conference, Austin, TX, April 26-27, 2011


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