World Trade Center-Kansas City News: July, 2022
Jul 27, 2022
A LETTER FROM THE DIRECTOR
This month, WTC-KC has been busy connect with partners, both local and national. We are a Private Sector Liaison Officer (PSLO) for the World Bank and attended a conference we learned about the priories of the World bank, and the best ways to bring World Bank resources to our Kansas City businesses. As a Making Global Local partner, we attended a roundtable discussion to learn more about USTDA opportunities to get our local businesses involved internationally. Here in Kansas City, UMKC invited us to tour their new Innovation Center, a new technology building with fabrication and prototyping equipment, industrial and research-grade additive manufacturing equipment, augmented, virtual and mixed reality equipment and software. The center hosts classes and its studios are available for use for a fee. Learn more here. We hope you are enjoying your summer and beating the heat. Please reach out for resources to help you anywhere in your international journey.
Events
American Red Cross Blood Drive at Union Station
August 1
Register here
Show Me Missouri Exports: Advanced Manufacturing – Aerospace and Automotive
August 4
Register here
GenKC’s Banter & Decanter
August 5
Register here
Show Me Missouri Exports: ICT – Cyber Security, Telecommunications, and Software & Digital Services
August 11
Register here
2022 Heartland Summit- U.S. Global Leadership Coalition
August 30
Save the date
iSteamKC Symposium
September 14
Register here
India Aerospace Trade Mission
U.S. Commercial Service (USCS)
September 19 – 23
Apply here
Discover Global Markets: The Blue Economy
U.S. Commercial Service (USCS)
September 20 – 22
Register here
2022 Continental Reunion
North American Strategy for Competitiveness (NASCO)
September 26 – 28
Register here
Caribbean Region Trade Mission and Business Conference
U.S. Commercial Service (USCS)
October 23 – 28
Apply here
Women in Tech Trade Mission
U.S. Commercial Service (USCS)
October 30 – November 5
Register here
2022 Mid-America Trade Summit
University of Missouri and WTC-KC
November 1 – 2
Register here
Executive Led Aerospace and Defense Trade Mission
November 6 – 11
Apply here
SCEWC 2022
Smart City Expo World Congress (SCEWC)
November 15 – 17
Register here
Job Opening
Business Development Lead for North America (US/Canada)
World Trade Centers Association (WTCA)
If interested contact Grace Dolan (gdolan@kcchamber.com)
Dispatches from DC
In December of 2021, the President signed the Uyghur Forced Labor Prevention Act, targeted at removing forced labor from American supply chains. The act came into effect on June 21, 2022. While the importation of goods produced with forced labor was already prohibited under U.S. law, the UFLPA imposes more specific sanctions and requirements of proof specific to goods coming from the Xinjiang Uyghur Autonomous Region in China. U.S. Secretary of Commerce Gina M. Raimondo issued a statement saying, “Protecting global human rights is central to our values as Americans, and today’s implementation of the UFLPA and the recent release of the strategy is a clear message to China and the rest of the global community that the U.S. will take decisive actions against entities that participate in the abhorrent use of forced labor.” Companies will be required to show the trace of origins of materials they import. Any goods imported from this region must not come from a company, either directly or indirectly, that uses forced labor. Some estimates predict that this act will exacerbate already strained supply chains, and companies must be prepared to do due diligence. Read the press release here and learn more about what this means for your company here.
SMALL BUSINESS SPOTLIGHT
Last month at the KC Chamber Small Business Celebration, Kenzen was announced at the 2022 Weida Award for International Small Business of the Year. Kenzen designs and manufactures small, wearable devices specifically targeted for those with physically demanding jobs that detect heart attacks and alert the appropriate contacts to ensure that the client gets the care they need. As a small business excelling in exporting, Kenzen has insight on going international. Michael Prewitt, operations and deployment manager, stresses the importance of finding key contacts in foreign countries to represent your organization that are able to speak to the intricacies of your product or industry. As a small business, it is crucial to expand internationally only at a pace that is manageable. For this, Kenzen recommends sales distribution partnerships to help with market expansion to grow your customer base with a support system. While expanding internationally, Kenzen knows that there is no need to go it alone. Networking to leverage all available resources can be invaluable in finding and managing customers in foreign markets. In their experience, they have found that people are generally willing and eager to help. They recommend conferences, trade organizations, tech accelerators, and the WTC-KC as avenues to explore. Finally, Kenzen has learned that while most international companies will understand and accommodate U.S. time zones, a willingness to make calls around the clock is just a part of doing international business. Congratulations to Kenzen for their great success. Learn more about Kenzen here.
WHAT WE'RE LISTENING TO
What Does Stagflation Mean for the Global Economy?
- The Development Podcast from the World Bank Group, Episode 27
- Listen here
A Short History of Trade Liberalization in Developing Countries
- Brookings Dollar and Sense Podcase, Episode
- Listen here
The Rumbles of a Reverse Currency War
- NPR The Indicator
- Listen here
Resources
WEConnect International
- WEConnect International helps drive money into the hands of women business owners by enabling them to compete in the global marketplace.
- Learn more here