This week is celebrated in cities across the United States as World Trade Week, when pro-trade groups and companies come together to recognize the significant and growing contributions of cross-border commerce to American prosperity.
International trade is vital to New York City, and its strong economy depends upon a stable, free and open international trading system. Dedicated to helping New York’s businesses grow through export and import, World Trade Week NYC celebrated its tenth awards breakfast on Monday, recognizing companies and organizations for their outstanding contributions to international trade. USCIB is once again a lead organizer, as Cynthia Duncan, USCIB’s senior vice president for international Carnet development, sits on the World Trade Week steering committee.
Rounding out the celebrations was a call on all attendees to urge their Congressional representatives to support reauthorization of Trade Promotion Authority and the finalizing of the Trans Pacific Partnership (TTP) and Transatlantic Trade and Investment Partnership (TTIP), two trade deals which would put America at the center of two thirds of the world’s economy.
Several government officials and trade association representatives attended the World Trade Week NYC awards breakfast on May 11 at Baruch College. Speakers included Representative Lee Zeldin (R.-N.Y.); Ken Hyatt, deputy undersecretary for international trade at the U.S. Department of Commerce; Fred Dixon, president and CEO of NYC & Company; and Nancy Ploeger, president of the Manhattan Chamber of Commerce.
In New York State alone, international trade supports 2.6 million jobs. That’s one out of every five jobs. From 2004 to 2014, New York’s trade-related employment grew more than two times faster than total employment.
“Because 80 percent of the world’s purchasing power lies outside the United States, future economic growth and jobs for New York and America increasingly depend on expanding U.S. trade and investment opportunities in the global marketplace,” said Duncan.
During the awards breakfast, Duncan presented the World Trade Week NYC Next Generation Program scholarships to college students who demonstrated “strong scholastic achievement and service to their community.” This year’s scholarship recipients are Vitalis Nujimem from Baruch College and Kelsey Antonino from the Fashion Institute of Technology.
Keynote speakers noted the need to get the word out about the importance of international trade and investment for New York City’s economy.
“There’s a need for an education about trade,” said Congressman Zeldin, who urged attendees to help the American public understand that in order for U.S. companies to grow they must be able to tap foreign markets.
Hyatt echoed that call, and reiterated Commerce’s mission of helping American companies export. He also reminded the group about the importance of foreign direct investment, and noted that FDI Magazine had recognized New York City as the most attractive investment destination in the United States.
Each year, the World Trade Week steering committee works together to highlight the link between international trade and New York City’s economic growth, as well as to help businesses share knowledge, resources and ideas for succeeding internationally. Festivities began on May 11 and continue until May 28.
The following companies and organizations received the World Trade Week 2015 International Trade Awards:
Global Trade Award
U.S. Customs and Border Protection
Small Business Global Trade Award
Global Logistics Award
Global Container Terminal – Bayonne
International Trade Award
Gotham Bar and Grill
International Achievement Award
Richard M Larrabee, Director of Port Commerce, Port Authority of NY & NJ
Export Certificate of Appreciation
Fashion Institute of Technology
Export Achievement Award
Gray Line New York