[Federal Register Volume 76, Number 160 (Thursday, August 18, 2011)]
[Notices]
[Pages 51350-51351]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-21108]
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DEPARTMENT OF COMMERCE
International Trade Administration
Aerospace Executive Service Trade Mission (AESTM) to Seoul, Korea
AGENCY: International Trade Administration, Department of Commerce.
ACTION: Notice.
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SUMMARY:
Mission Description
The U.S. Department of Commerce, International Trade Administration
(ITA), Aerospace & Defense Technologies Team and the U.S. Commercial
Service in Seoul (CS Korea) are organizing an Aerospace Executive
Service Trade Mission (AESTM) to Seoul in conjunction with the Seoul
ADEX 2011 (International Aerospace & Defense Exhibition) (http://www.seoulairshow.com).
The AESTM, to be led by a senior official of the Department of
Commerce, will include representatives from a variety of U.S. aerospace
and defense industry manufacturers and service providers. These mission
participants will be introduced to international agents, distributors
and end-users whose capabilities are targeted to each U.S.
participant's needs. Mission participants will also be briefed by key
local industry players and Joint U.S. Military Affairs Group--Korea
(JUSMAG-K) who can advise on local market conditions and opportunities.
Commercial Setting
The Republic of Korea (Korea) is an economic leader in East Asia.
Korea is the 7th largest market for U.S. exports as well as the 9th
largest market for U.S. aerospace exports with $3.0 billion of U.S.
aerospace exports in 2010. Korea is a growing market for the aerospace
and defense industry, with U.S. aerospace exports growing 51% from 2004
and 2010. With the world's sixth largest military, and continued
spending for new weapon systems as part of its defense modernization
program, Korea continues to attract the interest of U.S. defense
suppliers. In addition to its traditional focus on air power, Seoul
ADEX 2011 will also incorporate land forces technology.
Seoul ADEX is one of the world's premier aerospace and defense
technology events. The 2009 ADEX show was the largest to date and
featured 273 exhibitors from 27 countries, 72 VIPs from 41 countries,
and approximately 20,000 trade visitors. Encompassing all civil and
military sectors of the international aerospace and ground support
industry, Seoul ADEX is the foremost platform for companies to showcase
their products and services in the region. Attendees and visitors to
the Seoul ADEX include foreign and Korean VIPs, government officials,
senior company managers, and high-level executives involved in the
aerospace and defense market in Korea and the rest of the region.
With a close working relationship between the U.S. and Korean
governments and private aerospace and defense companies, the AESTM
service at this major aerospace and defense show will assist American
companies in making important contact with the industry's key players
in this region.
The U.S.-Korea Trade Agreement (KORUS) would provide significant
commercial opportunities to U.S. aerospace exporters, including duty-
free treatment for all U.S. aerospace exports to Korea within three
years of implementation of KORUS (Korean aerospace tariffs currently
average 3.5 percent, ranging up to 8 percent).
Mission Goals
The goal of the AESTM at the Seoul ADEX 2011 is to facilitate an
effective presence for small- and medium-sized companies while
combining aspects of a trade mission, such as one on one pre-scheduled
business-to-business meetings, trade show participation, and networking
activities, in one package.
The AESTM Program enables U.S. aerospace companies to familiarize
themselves with this important trade fair, to conduct market research
and to explore export opportunities through pre-arranged meetings with
potential partners. AESTM participants will be supported by
knowledgeable Commercial Service specialists focused on furthering
their company-specific objectives.
Mission Scenario
Participants will have individual company kiosk space within the
U.S. Pavilion where they can display company literature and conduct
meetings with visitors to the air show. Company information and
literature will be forwarded by the companies to CS Korea in advance
whereupon CS Korea will search for relevant partners and coordinate
logistics with respect to arranging meetings for each participant at
the show. Prior to the end of the AESTM program, CS Korea staff will
undertake a debriefing session with mission participants as well as
counsel and coordinate with them on appropriate follow-up procedures.
In summary, participation in the AESTM Program includes:
Pre-show Outreach and Press Release by CS Korea;
Pre-show breakfast briefing on October 17, 2011, by CS
Korea and other inter agencies in American Embassy such as JUSMAG-K;
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Daily Transportation between AESTM hotel and ADEX 2011 and
vice versa;
Pre-scheduled meetings with potential partners,
distributors, and/or end users and on-site meeting if requested;
One show entry pass per company representative;
Participation in U.S. Exhibitors Welcome Reception on
October 17 by the show organizer;
One invitation to the U.S. VIP reception per participant
by the U.S. Ambassador to Korea;
Access to Official U.S. Pavilion/Business Information
Office amenities, including meeting area;
Individual kiosk space within the U.S. Pavilion for
display of company literature, poster and meetings;
Copy of the official ADEX 2011 Air Show Exhibitor's
Directory;
Copy of AES Trade Mission Directory;
On-site AESTM program coordinator.
Proposed Timetable
Mission Timetable: ITA Aerospace & Defense Technologies Team
members arrive in Seoul prior to the show. The proposed program is
below:
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October 16 (Sunday).................... AES Participants Arrive.
A.M., October 17 (Monday).............. Program and pre-show briefing
at hotel.
P.M., October 17 (Monday).............. 1-on-1 meeting (2-3 meetings)
at hotel.
Evening, October 17 (Monday)........... Show Organizer's Welcome
Reception at official hotel of
the show organizer (6:30-8:30
p.m.).
A.M., October 18 (Tuesday)............. Show Opens.
P.M., October 18 (Tuesday)............. 1-on-1 meeting at Seoul ADEX
2011.
Evening, October 18 (Tuesday).......... Welcome Reception (subject to
date change) by the U.S.
Ambassador.
A.M., October 19 (Wednesday)........... 1-on-1 meeting at Seoul ADEX
2011.
P.M., October 19 (Wednesday)........... Follow-Up meetings.
October 20 (Thursday).................. On site meeting with exhibitors
upon request.
October 21 (Friday).................... On your own schedule.
October 22-23 (Saturday-Sunday)........ Public Days.
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Participation Requirements
All parties interested in participating in the Aerospace Executive
Service Trade Mission must complete and submit an application for
consideration by the Department of Commerce. All applicants will be
evaluated on their ability to meet certain conditions and best satisfy
the selection criteria as outlined below. A minimum of 8 and a maximum
of 11 companies will be selected to participate in the mission from the
applicant pool. U.S. companies already doing business in Korea as well
as U.S. companies seeking to enter the market for the first time are
encouraged to apply.
Fees and Expenses
After a company has been selected to participate in the mission, a
payment to the Department of Commerce in the form of a participation
fee is required. The participation fee will be $5,000 for a small or
medium-sized enterprise (SME) \1\ and $5,500 for large firms. The fee
for each additional firm representative (SME or large) is $300.
Expenses for travel, lodging, meals, and incidentals will be the
responsibility of each trade mission participant.
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\1\ An SME is defined as a firm with 500 or fewer employees or
that otherwise qualifies as a small business under SBA regulations.
See http://www.sba.gov/contractingopportunities/owners/basics/whatismallbusiness/index.html. Parent companies, affiliates, and
subsidiaries will be considered when determining business size. The
dual pricing reflects the Commercial Service's user fee schedule
that became effective May 1, 2008. See http://www.export.gov/newsletter/march2008/initiatives.html.
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Conditions for Participation
An applicant must submit a completed and signed mission
application and supplemental application materials, including adequate
information on the company's products and/or services, primary market
objectives, and goals for participation. If the U.S. Department of
Commerce receives an incomplete application, the Department may reject
the application, request additional information, or take the lack of
information into account when evaluating the applications.
Each applicant must also certify that the products and
services it seeks to export through the mission are either produced in
the United States, or, if not, marketed under the name of a U.S. firm
and have at least 51 percent U.S. content of the value of the finished
product or service.
Selection Criteria for Participation
Suitability of the company's products or services to the
Korean market.
Consistency of the applicant's goals and objectives with
the stated scope and design of the mission.
Applicant's potential for business in Korea, including
likelihood of exports resulting from the mission.
Referrals from political organizations and any documents containing
references to partisan political activities (including political
contributions) will be removed from an applicant's submission and not
considered during the selection process.
Timeframe for Recruitment and Applications
Mission recruitment will be conducted in an open and public manner,
including publication in the Federal Register (http://www.gpoaccess.gov/fr), posting on ITA's trade mission calendar--http://www.trade.gov/trade-missions--and other Internet Web sites, press
releases to general and trade media, direct mail, broadcast fax,
notices by industry trade associations and other multiplier groups, and
publicity at industry meetings, symposia, conferences, and trade shows.
Recruitment for the mission will begin August 8, 2011, and conclude
August 26, 2011. The U.S. Department of Commerce will review
applications and make selection decisions on a rolling basis, and will
inform all applicants of selection decisions as soon as possible.
Applications received after the August 26 deadline will be considered
only if space and scheduling constraints permit.
Contacts
Jason Sproule, Senior International Trade Specialist, Irvine U.S.
Export Assistance Center, 2302 Martin Court, Irvine, California 92612,
Tel: 949-660-7105, Fax: 949-660-1338, Jason.sproule@trade.gov.
Elnora Moye,
U.S. Department of Commerce, Commercial Service/GTP.
[FR Doc. 2011-21108 Filed 8-17-11; 8:45 am]
BILLING CODE 3510-FP-P