International Development Committee Takes on the Topic of Globalism
Monday, December 04, 2017
During the Greater Irvine Chamber’s Nov. 28 International Development Committee (IDC) meeting, a discussion led by committee co-chairs Marv Sepe of CTC Global and Rima Nashashibi of Nashashibi International Consultants, LLC and the Patient Safety Movement Foundation examined the unique position Irvine holds in the global market, being centrally located between two major Southern California markets – San Diego and Los Angeles – and in close proximity to two of the world’s largest sea ports.
According to Jim Mayfield, acting director of the U.S. Export Assistance Center and IDC partner, approximately 42 percent of all trade passes through the ports of Long Beach and Los Angeles – $1.7 trillion in merchandise and $1 trillion in services.
“Companies in Southern California have a very distinct competitive advantage, differing from other areas of the country. We are sitting in the middle of the most accessible globalized logistics services and shipping infrastructure. We’re two hours from one border and two hours by plane to another – that’s pretty special,” Mayfield said.
Mayfield indicated that more than 40 percent of total Orange County exports/imports, including I.T. (soft and hardware), transportation equipment (auto, air, and rail), life science (medical devices, supplies, and equipment), and food-related products, are to Mexico followed by Canada.
Also at discussion was that information sharing and globalization has contributed to more countries being able to carry out economic development through trade.
“We need to change our expectations of trade so it reflects evolving production and innovation in other countries. This will change the metric benefits we can achieve from globalization, as well as finding new markets and new opportunities,” said Linda DiMario, executive vice president, Greater Irvine Chamber.
Announcements made during the meeting included:
- Now in its fourth year supporting the region’s trade industry, the 2018 Orange County World Trade Week will again convene major trade organizations, associations, and corporate executives, on Thursday, May 17, 7 a.m. – 11 a.m. at the Irvine Marriott.
- Providing information and resources for those interested in starting or increasing trade activities, the Greater Irvine Chamber hosts a global microsite, irvineglobalmarkets.com/irvine-global.
IDC members also discussed the next stages of several of its international development projects including:
- OC International Coalition Building
- Foreign owned Company Gateway Project
- Foreign Direct Investment U.K./Canada Expansion
The next IDC meeting will be held Thursday, Jan. 30, 2018, 12 p.m., at the Greater Irvine Chamber.
Category: Chamber News, Economic Development