November 4, 2003

U.S. COMMERCE OFFICIAL LEADS TRADE MISSION TO ROMANIA

U.S. AEROSPACE COMPANIES TO SEEK TRADE PARTNERS IN POLAND, ROMANIA AND CZECH REPUBLIC

U.S. Deputy Assistant Secretary of Commerce, Joseph Bogosian, is leading a delegation of U.S. aerospace company representatives this week on a business development mission to Romania, Poland, and the Czech Republic. The mission will assist U.S. civil and military aerospace manufacturing, supply and service firms explore or expand their presence in these Eastern European markets. The mission will focus on aircraft products and services, and will also be open to firms offering solutions to airport infrastructure needs, such as airport security.

"The current business climate and aerospace needs in Eastern Europe offer many opportunities for U.S. companies," said Bogosian. "It's trade missions like this one that not only help U.S. companies succeed, but also add to the overall global prosperity."

The delegation will visit Warsaw, Bucharest and Prague to gain first-hand market information and meet with key government officials and potential business partners. In all three countries, the delegation will be introduced to potential business partners through mission events and tailored business-to-business meetings.

These Eastern European markets are experiencing rapid growth, an increasing level of disposable income, and the improved competitiveness of their companies, as they adapt to a market environment. Imminent membership in the EU and NATO has also already brought opportunities for U.S. companies in terms of upgrades and adjustments.

Warsaw, Bucharest and Prague are also experiencing a decrease in inflation, fully convertible currency exchange rates and the liberalization of capital flow in these countries.