ASIA TRADE CONFERENCE POINTS TO OPTIMISM; OPPORTUNITIES EXIST IN AREA, GROUP SAYS.Byline: Deborah Adamson Daily News Staff Writer The financial turmoil in Asia shouldn't discourage companies from seeking to do business abroad. That's the message from the Economic Alliance of the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. , a private, nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. group that will hold an all-day trade conference on Thursday at the Universal City Hilton & Towers. ``Don't get scared,'' said Jack Kyser, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the for the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County Economic Development Corp. and keynote speaker. ``Asia will recover. It won't be in the tank forever and now is the time to stake your claim.'' The conference also might help companies with business in Asia deal with the financial crisis, said Debra Reed, Economic Alliance's vice president. Both import and export to Asia are suffering from the financial instability in the region, Kyser said. The currency devaluation Currency devaluation A deliberate downward adjustment in the official exchange rates established, or pegged, by a government against a specified standard, such as another currency or gold. in the region makes American goods more expensive to buy. While importing goods are cheaper, many Asian businesses can't raise the capital to send the products abroad, Kyser said. But the conference will cover opportunities at other markets as well, such as Mexico, Canada and Europe, that could be a boon to local firms. Indeed, California's exports rose 6 percent in the first quarter from a year ago despite the Asian crisis because of strong shipments to Europe and Mexico, the California Trade and Commerce Agency reported. Apparel, household furnishings and software are among many products that will find a market abroad, Kyser said. The conference seeks to help small to medium-size businesses find or refine their way in the global market. Through workshops and exhibitor booths, it will provide financing, regulatory and global market information. Midway through the event, four workshops will address product demand, financing, transportation and trade regulatory issues. A highlight of the conference is global trade success stories shared by three companies: Breath Asure, a maker of fresh breath tablets based in Calabasas; Precision Dynamics, a San Fernando San Fernando, city, Argentina San Fernando (săn fərnăn`dō), city (1991 pop. 144,761), Buenos Aires prov., E Argentina. It is a district administrative center in the Greater Buenos Aires area. medical devices maker; and Burbank-based Iwerks Entertainment Iwerks Entertainment was founded in 1985 by Stan Kinsey and Don Iwerks, two former Disney Executives, and became well known through 1996 as a leading developer of special venue and virtual reality theaters throughout the world. , which develops motion simulation rides. The conference, from 7:30 a.m. to 2 p.m., costs $75, or $100 at the door. Call (818) 782-7738. ON TAP Speakers include representatives from the California Trade & Commerce Agency, City National Bank, the Port of Los Angeles The Port of Los Angeles is located on San Pedro Bay in the San Pedro neighborhood of Los Angeles, approximately 20 miles (30 km) south of downtown. Also called Los Angeles Harbor and WORLDPORT LA , and the U.S. Commerce Department, among others. |
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