Category Archives: Uncategorized

Icelandic delegation to meet with Portland, trade officials Wednesday

Eimskip, the Icelandic shipping company that operates on Portland’s waterfront, and local officials will host a visiting delegation from Reykjavik on Wednesday. The visit is intended to enhance business prospects between Maine and the island nation that is a gateway to much of the European market.

“It is great to experience the enthusiasm from governments and businesses on both sides of the Atlantic to strengthen relationships capitalizing on Eimskip’s Green Line,” Larus Isfeld, managing director of Eimskip USA, said in a news release. “We will continue to invest in connecting people both culturally and geopolitically, and business will follow. This visit is a result of Maine’s Gubernatorial Trade Mission to Iceland in 2014, where city officials from Portland met with Reykjavik city officials.”

Read full article on Portland Press Herald

Canadian recession triggers Maine export decline

Maine and U.S. exports to Canada have taken a hit as the neighbor to the north slips into recession and its currency hits an 11-year low in relation to the U.S. dollar.

Exports from Maine to Canada are down 23.7 percent so far this year, although Maine International Trade Center President Janine Bisaillon-Cary said Friday that the figure is overstated by a sharp drop in certain fuel exports that pass into and back out of Maine.

All other exports are down about 4.2 percent so far this year, which she said is in line with the national 5.2 percent drop in exports to Canada that comes amid slow economic growth for the Canadian economy that depends heavily on minerals and fossil fuels.

Read full article on BDN Maine

Middle market firms enter foreign markets cautiously, strategically

Of the 619 middle market firms in Maine, only 19 are involved in exporting, according to a new study.

That 3% is on par with Vermont, but lower than other New England states, with 4% involved in exporting in Massachusetts and New Hampshire and the 5% in Connecticut and Rhode Island. The U.S. total is 5%, according to a new study called the “Middle Market Power Index: Taking the Global Stage” from American Express and Dun & Bradstreet.

Middle market companies, which generate from $10 million to $1 billion in revenues, tend to export more as their revenues grow and they remain in business longer, according to the report, but they do so strategically and cautiously.

Read the full article on Mainebiz

Maine eurozone exports stay strong despite rocky global markets

Maine exporters may be sleeping poorly these days, but it’s not the humid weather. Global markets have been shaken by the rising risk of a Greek exit from the eurozone and the ongoing rout in Chinese stocks. Meanwhile, Canada’s economy has contracted every month this year, and a growing number of economists say that Maine’s largest trade partner has already stumbled into a recession.

Simply put, people in other countries don’t buy as much Maine stuff when their currencies sink in value. They also don’t buy stuff if they lose their jobs or are worried about losing their jobs.

So far, though, this anxiety has yet to appear in Maine’s trade data with Europe.

Read full article in Portland Press Herald

 

Maine wins bid to host 2016 Arctic conference

Maine will become the first state in the contiguous United States to host an Arctic conference in 2016 that is expected to attract senior officials and experts from 20 countries.

The Maine International Trade Center announced Friday that Portland will host the Arctic Council’s Senior Arctic Officials meeting Oct. 4-6, 2016, which state officials said will create new opportunities for businesses and academic and research institutions here. The event is part of a “high-level intergovernmental forum that provides a means for promoting cooperation, coordination and interaction among the Arctic States and involvement of the Arctic Indigenous communities and other Arctic inhabitants on common Arctic issues,” MITC said.

Read the full article in Mainebiz

Portland selected to host global Arctic conference in 2016

The U.S. State Department has chosen Portland to host an international forum on the Arctic next year, the first such forum in the United States outside of Alaska.

The meeting will put Maine in the international spotlight, said Dana Eidsness, director of the Maine North Atlantic Development Office.

“This is a true turning point for Maine as we step further on the Arctic stage and join Alaska at the forefront of U.S. engagement in the Arctic,” Eidness said.

Read the full article in Portland Press Herald

 

Global college admissions advisers get glimpse of higher education in Maine

A group of college advisers from around the world is visiting four college campuses in Maine this week. They plan on bringing their experiences back to prospective students in their countries.

The advisers work for the EducationUSA network, a group under the State Department that helps students in their respective countries find and apply to U.S. colleges. The advisers — from India, Peru, Panama, Turkey, Burkina Faso, Japan, Russia and Estonia — toured on Monday the Husson University campus in Bangor and met with the school’s admissions staff. Later this week, they’ll visit the University of Maine, Unity College and Thomas College in Waterville.

Read the full article on BDN Maine

Saco’s Thornton Academy Attracting Students From Around the Globe

The head of a southern Maine high school traveled to Washington recently to receive a presidential award – not from the Department of Education, but from the Department of Commerce.

Saco’s Thornton Academy received the President’s “E” award, which recognizes efforts that contribute significantly to U.S. exports. In the case of Thornton Academy, the product is the American educational experience, which is being exported to hundreds of foreign students, thanks to the school’s thriving international program.

Read or listen to the full story on MPBN

Maine, China touted as trade and investment partners

Members of some of China’s largest banks and one of the country’s top diplomats took center stage Thursday at the annual Maine International Trade Center conference, touting China as an increasingly important trade partner and Maine as a strong candidate for Chinese investment.

Zhang Qiyue, the Chinese Consul General in New York, reassured representatives from Maine’s export community that the middle class in China continues to expand and offer new markets for Maine-sourced products, particularly lobster. Lobster sales to China jumped from zero in 2007 to $21.4 million in 2014, making China the top destination for Maine lobster outside North America. Seafood was Maine’s leading export in 2014, with a value of $456.67 million, and lobster accounted for almost $366 million of those exports. Increasingly, the destination for Maine lobster is Asia.

Read the full article in Portland Press Herald