India's trade gap widens to record on slower exports - India's trade deficit widened to a record in June as the currency at a nine-year high trimmed growth in merchandise exports. The trade deficit was $7.33 billion in June compared with $3.64 billion a year earlier, the Ministry of Commerce and Industry said in a statement. Exports grew 14 percent to $11.9 billion, slower than the 18 percent gain in the previous month. Imports rose 36.7 percent to $19.2 billion. Read Full Article Here

WTO rules in favor of Brazil in cotton subsidy dispute - Brazil won a victory over the U.S. regarding cotton subsidies when the World Trade Organization declared the U.S. subsidies unfair. The U.S. government has been accused of unfairly helping its farmers by subsidizing the cotton industry. Brazil called on the U.S. to respect the ruling, but U.S. officials vow to continue to protect cotton farmers. Read Full Article Here

Oil price rises to all-time high - Oil prices have climbed to a record high of $78.71 a barrel amid worries about whether oil supplies can meet global demand. The price of a barrel of US light, sweet crude passed the previous high of $78.40 a barrel, reached in July 2006. Prices have risen steadily in the past few weeks following disruption to output in Nigeria and the North Sea and set a new closing high on Tuesday. The latest rise was triggered by data showing a fall in US crude stockpiles.  Read Full Article Here

2007 Gubernatorial Trade Mission To South Korea and Japan - MITC is coordinating a gubernatorial trade mission to South Korea and Japan from Oct. 27-Nov. 3 to offer Maine businesses the opportunity to establish contacts in Asia and expand trade to both country’s growing economies.  MITC will provide one-on-one business appointments, in-country market research, visit preparation, market briefings and networking events as part of the trade mission.

Virtual Trade Missions-USCS

The Virtual Matchmaker Program offers the busy executive a cost-effective way to explore an overseas market and meet international business prospects and market experts.  Virtual Matchmakers are industry specific and allow companies the opportunity to get answers to their market questions in an interactive, two-hour video conference.  FMI:

http://www.export.gov/salesandmarketing/virtual_trade_mission.asp

CE Mark for Medical Professions - September 25, 2007, 9:00 – 12:00, Portsmouth, NH.  Please contact Paula Newton at New Hampshire International Trade Center at pNewton@dred.state.nh.us for more information.

CE Mark Program –  October 4, 2007, Montpelier, VT.  Full day program.  Please contact Ariana Monti at Vermont Global Trade Partnership at Ariana.Monti@state.vt.us for more information.

Healthcare Technologies Trade Mission to Istanbul, Turkey; Amman, Jordan; and Cairo, Egypt from October 24 to November 1, 2007. led by the United States Department of Commerce, International Trade Administration, U.S. Commercial Service,  and Office of Global Trade Programs. Contact: Ms. Lisa C. Huot, U.S. Dept. of Commerce, room 2118, Washington, DC 20230 Tel: 202-482-2796; Fax: 202-482-0975 E-Mail: Lisa_Huot@ita.doc.gov

MEDICA, November 14-17, 2007, Dusseldorf, Germany - In support of Maine companies interested in MEDICA 2006 - the world’s largest and most prestigious international medical trade fair – the Maine International Trade Center (MITC) will participate in a trade mission to MEDICA November 14 – 17, 2007 in Düsseldorf, Germany.

Finding Trade Shows- http://www.eventseye.com/ Events Eye provides an extensive list of upcoming trade shows throughout a broad range of industries and countries

Answers to Trade-Related Questions http://www.i-b-t.net/tools.asp

Here's a useful site to bookmark. The International Trade Tools ( http://www.i-b-t.net/tools.asp ) page at the International Business Training™ (IBT) site has links to sites where you can get quick answers to trade-related questions. There's a list of Incoterms with definitions, Schedule B export codes, a page where you can convert just about any unit of measurement into another one, and an Internet guide to export trade leads (with links to dozens of trade lead sites). There are lots of useful articles and books about trade at this site also.

As a reminder, MITC membership includes unlimited trade assistance.

We look forward to answering your questions and providing you with market research and statistics. For more information, please contact Trade Assistance Manager Anne Hurst at hurst@mitc.com or 541-7418.

For more information about the Maine International Trade Center,

please visit our website or contact us today.

Website: www.mitc.com

Bangor Office: 207-990-3161

Lewiston Office: 207-753-0574

Portland Office: 207-541-7400