News from the U.S. Department of the Treasury WASHINGTON – Today, President Obama signed an Executive Order terminating the national emergency with respect to Burma, revoking the Burma sanctions Executive Orders, and waiving other statutory blocking and financial sanctions on Burma. As a result, the economic and financial sanctions administered by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) are no longer in effect. These steps fulfill the announcement made by President Obama during the visit of State Counsellor Aung San Suu Kyi, stand as a testament to the far-reaching changes that Burma has undergone in the past few years, and are intended to support efforts by the civilian government and the people of Burma to continue their process of political reform and broad-based economic growth and prosperity.
“Burma has made significant strides in recent years, including choosing a civilian-led, democratically elected government,” said Adam J. Szubin, Acting Under Secretary for Terrorism and Financial Intelligence at the U.S. Department of the Treasury. “Lifting economic and financial sanctions will further support trade and economic growth, and Treasury will continue to work with Burma to implement a robust anti-money laundering regime that will help to ensure the security of its financial system.” Termination of the Burma Sanctions Program Executive Order (E.O.) ______ of October 7, 2016,“Termination of Emergency With Respect to the Actions and Policies of the Government of Burma,” terminated the national emergency, revoked E.O.s 13047, 13310, 13448, 13464, 13619, and 13651, and waived financial and blocking sanctions in the Tom Lantos Block Burmese JADE (Junta’s Anti-Democratic Efforts) Act of 2008. As a result, the economic and financial sanctions on Burma administered by OFAC are no longer in effect. This includes the following impacts, among others:
The termination of the Burma sanctions program does not impact Burmese individuals or entities blocked pursuant to other OFAC sanctions authorities, such as counter-narcotics sanctions. They remain on the SDN List, and their property and interests in property remain blocked. Further, pending or future OFAC enforcement investigations or actions related to apparent violations of the BSR when in effect may still be carried out. Banking with Burmese Banks This Executive Order terminates all OFAC-administered restrictions and authorizations under the Burma sanctions program pertaining to banking with Burma. This includes the OFAC general licenses issued in 2012 and 2013 that authorized certain correspondent account activity with Burmese banks. In 2003, the Financial Crimes Enforcement Network (FinCEN) found Burma to be a “jurisdiction of primary money laundering concern” under Section 311 of the USA PATRIOT Act. As a result, FinCEN issued a prohibition on U.S. financial institutions from maintaining correspondent accounts for Burmese banks. The 2003 finding remains in place, but FinCEN is issuing an administrative exception today to suspend the prohibition so that U.S. financial institutions can continue to provide correspondent services to Burmese banks, subject to the appropriate due diligence requirements. This exception is based on Burma’s progress in improving its anti-money laundering regime and its commitment to continue making progress to address money laundering, corruption, and narcotics-related activities. FinCEN intends to rescind its action in its entirety when Burma has made sufficient progress in addressing these issues. FinCEN’s administrative exception can be found here. Source: U.S. Department of the Treasury U.S. Ambassadors from ASEAN Region hosted by WTC Philadelphia and Select Greater Philadelphia10/6/2016
A member of the Senior Foreign Service, with tours of duty in major U.S. embassies around the world, Ambassador Allen also served as U.S. Department of Commerce Deputy Assistant Secretary for Asia and later China, as well as being posted at the U.S. Embassy in Beijing. Ambassador Osius served at posts in India, Indonesia, Thailand and the Philippines. (See attached bios). Over 33 international companies and organizations attended, representing a broad cross section of the region’s major exporting sectors, including health, aviation, food export and higher education. The Ambassadors’ visit is part of a U.S. tour and an opportunity to expand trade with one of the most rapidly growing regions in the world and to further discussion on the TPP (Trans-Pacific Partnership) trade agreement. Both Ambassadors spoke compellingly on TPP, noting that TPP countries currently account for 40% of global trade, with the agreement eliminating customs duties on exports for major sectors in the region. (See attached TPP info from US Department of Commerce and USDA). The discussion centered on significant opportunities for area businesses and institutions in various categories including: Health, Higher Education, Energy and Suppliers/Precision Manufacturing, Aviation/Helicopters, Smart Cities Technology and Entrepreneurship. According to Ambassador Allen, Brunei has extensive off-shore oil and gas drilling operations that require helicopter support and represent an opportunity for our energy suppliers and aviation sector. Over 19,000 students from Vietnam are currently enrolled in U.S. institutions of higher learning, with Ambassador Osius underscoring the significant opportunity for the U.S. to build important commercial and cultural ties, citing a recent survey where over 92% of respondents selected the United States as Vietnam’s favored country. Philadelphia’s legendary Bassetts Ice Cream, currently exports ice cream to China, and President Michael Strange has interest in expanding to additional markets like Vietnam. According to Linda Conlin, President of the World Trade Center of Greater Philadelphia, “At the World Trade Center of Greater Philadelphia, we seek to offer our members timely information and important international connections to accelerate their global growth. At this time of national and local debate on trade, these senior diplomats identified specific export opportunities in their countries and articulated concrete TPP benefits to area companies that will increase business and economic growth and jobs for our communities.”
News from the U.S. Department of State On Wednesday, September 28, Secretary Kerry delivered remarks at The Wilson Center on the US relationship with the Asia Pacific region, highlighting the Trans-Pacific Partnership trade agreement as a means to strengthen our critical partnerships in the region while cementing America's status as a world leader. Secretary Kerry Remarks on the Trans-Pacific Partnership
The Trans-Pacific Partnership will reinforce our status as a world leader intimately connected to the dynamic economies of the Pacific Rim, the fastest-growing economies in the world. And it will help strengthen norms and standards that are important to us - not just to other people or to everyone else in the region, but important to every citizen in the United States of America. Let me be clear: the reverse is also true. If we reject TPP, we take a giant step backward, we take a step away from this vital platform for cooperation, we take a step away from our leadership in the Asia Pacific, we take a step away from the protection of our interests and the promotion of universal values, we take a step away from our ability to shape the course of events in a region that includes more than a quarter of the world's population - and where much of the history of the 21st century is going to be written... View Full Transcript / Watch Video
As a culminating event for Bringing the World to Pennsylvania, WTCGP hosted Global Connections: The Greater Philadelphia International Reception, a networking event for the ATRs and more than 100 business, government and academic leaders celebrating the vitality of international trade and global business in the Greater Philadelphia region. Speakers at the event included Philadelphia Mayor Jim Kenney; Neil Weaver, Executive Deputy Secretary of the PA Department of Community & Economic Development; and Joe Burke, Deputy Secretary of the PA Office of International Business Development.
PC Network Inc. - a Bringing the World to Pennsylvania and Global Connections participant - is a customer focused technology infrastructure services company based out of Philadelphia and is assisted by World Trade Center of Greater Philadelphia. September 20, 2016, Philadelphia, PA, USA / London, UK – Calleva Networks Ltd., a UK-based IT services company, today announced the acquisition of key assets by PC Network (UK) Limited, an operating company of PC Network Inc. (PCN). PCN delivers a comprehensive portfolio of DNS, DHCP, and IPAM (DDI) managed services and professional consulting to enterprises, service providers, system integrators, and VARs. Calleva Networks, a boutique IT services firm focused on DDI services and consulting in the UK, will strengthen PCN’s UK market presence and core DDI managed services offering. “We are excited about this transaction. Calleva Networks is a great fit with our business,” said Katrin Hillner, PCN’s President & CEO. “Global demand for our services has made the addition of resources in the UK essential. We could not have found a better set of services and skills than what the Calleva Networks team brings our clients.” Paul Roberts, Calleva Networks founder, is joining PCN’s leadership team and will provide a dedicated focus to PCN’s growing UK customer base. “PCN has a compelling service offering, global scale and a fantastic technical team well matched with our experience at Calleva Networks,” added Roberts. The growing number and type of IP enabled devices and applications connecting to networks require the right tools to be used in the right ways to mitigate risk and complexity. DDI is foundational to delivery of critical network services protecting Domain Name System (DNS) infrastructure, automating cloud deployments, and increasing the reliability of enterprise and service provider networks around the world.
“We believe that Cloud transformations, DNS Security and the Internet of Things revolution will continue to create strong demand for our managed services, representing a significant growth opportunity for us in the UK ,” stated Shaun Antram, PCN’s founder. PCN has supported major UK multinationals for almost a decade and is well positioned with the acquisition of Calleva Networks to grow new business in the UK. Financial terms of the acquisition were not disclosed. View Full Press Release/Contact PCN
WTCGP and the Pyramid Club, one of Philadelphia’s premiere private business clubs and social networking venues, have formed a new WTCGP member benefit program.
MIDJersey Business Magazine September issue reveals how MIDJersey companies are going global and how trade groups like World Trade Center of Greater Philadelphia can help small and medium-sized business owners reach new global markets. A New Frontier More MIDJersey Companies are Offering Their Producst and Services to a Global Market. Here's How They're Doing It - And Where They're Going for Help
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