THE EURO IS IN CIRCULATION

On January 1, 2002, twelve of the EU member nations converted to the new Euro currency. An excellent source of information on the Euro, including conversion schedules and description of the new money, is the EU Central Bank’s Internet site at www.euro.ecb.int.

Some EU countries will accept the old currency as legal tender for a short while after the switch, but on January 1, Automated Teller Machines in the 12 nations (see list below) began issuing Euros, and banks started using Euros for foreign currency exchange.

As of January 1, French Francs are no longer accepted for check or electronic payments. By February 17, the French Franc will be completely withdrawn from circulation and cease to be legal tender. American Embassies and Consulates in the 12 EU nations began accepting only U.S. dollars or the Euro for fee-based services.

Countries that adopted the Euro on January 1 are Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. No date has been announced as to when Denmark, Sweden, and the United Kingdom will convert to the Euro.

January 10 Luncheon Seminar on "Going Global"

Ruperto Chavarri, Director of the Louisiana International Trade Center/SBDC, and Eugene Schreiber, Managing Director of the World Trade Center of New Orleans, will conduct a luncheon seminar on "Going Global: Getting Started in Exporting and Importing" from 12:00 p.m. to 2:00 p.m. on Thursday, January 10, in the WTC’s 29th Floor Executive Offices. The program is sponsored by the Louisiana Department of Economic Development, the New Orleans U.S. Export Assistance Center, the Louisiana International Trade Center/SBDC, the World Trade Center, and the law firm of Hoffman Siegel Bienvenu, Centola and Cordes.

The seminar will focus on the fundamentals of an international transaction and present an overview of the basic import-export process. It is designed as an introduction to the Louisiana International Trade Center’s step-by-step Export-Import Seminar series, the first of which will be held in 2002 on the evenings of January 23, 28 and 30 for a total of 14 hours. At these sessions participants will learn the "how to" of international market research, preparing products for export and import, pricing strategies, terms of sale and quotations, export and import documentation, export shipping and import entry procedures, trade financing, and the bottom line, methods of payment. To register for the January 10 luncheon, call the WTC at (504) 529-1601, ext. 271, or click here.

MILLENNIUM PORT SYMPOSIUM

The Ports Association of Louisiana will hold an all-day "Millennium Port Symposium" on January 16 from 9:00 a.m. to 3:30 p.m. at the Marriott Hotel in Baton Rouge. The speakers will include Millennium Port Authority President William Coyle and Interim Director Thomas Sands, as well as John Vickerman, Transystems, Inc.; Jim Brennan, Norbridge, Inc.; Donald Dovie, CP Ships; and Patrick Morrissey, P & O Ports North America, Inc. The cost for the symposium is $50. To register, call (225) 334-9040, or register online at www.portsoflouisiana.org.

ASIAN LEADS ON WEBSITE

The State of Louisiana Asia Trade Office has received several trade leads from companies in Korea, India, Singapore, Hong Kong and Taiwan searching for agents and distributors for their products. The trade leads are posted in their entirety (including contact information) on the WTC website.

ECUADORIAN BUSINESS LEADER TO SPEAK AT FEB. 5 LUNCHEON

Mr. Juan José Pons-Arizaga, a well-known businessman and national Congressman from Guayaquil, is the featured speaker at a luncheon program to be held at the World Trade Center’s Plimsoll Club in New Orleans on Tuesday, February 5. The topic of his talk is "Trade and Investment Opportunities for Louisiana Companies in Ecuador." Mr. Pons will discuss possible trade agreements and joint ventures in such diverse products as: bananas, shrimp, fish, tropical fruits, and flowers. He also will highlight opportunities for Louisiana companies to export to Ecuador, as well as his interest in developing a permanent air cargo service to Ecuador from the New Orleans area.

Mr. Pons has been involved internationally in advertising, communications, aquaculture, agri-industries, and commerce. He is currently CEO of Goldfinger Bananas, one of Ecuador’s principal banana exporters. In the public sector, Mr. Pons has served as President of the Development Bank of Ecuador, and from 1998 until 2000 he served as the President of the Congress of Ecuador. He is also a past President of the Ecuadorian Federation of Exporters.  CANCELLED

LOUISIANA TRADE EVENTS

Jan. 10 -"Going Global: Getting Started in Exporting and Importing" luncheon seminar featuring LITC Director Ruperto Chavarri and WTC Managing Director Eugene Schreiber at the WTC. Call (504) 529-1601, ext. 271.

Jan. 16 -"Millennium Port Symposium" in Baton Rouge at the Marriott Hotel. Call (225) 334-9040.

Jan. 23, 28, -Export and import seminars by the Louisiana International Trade Center-SBDC, at the World Trade Center of New Orleans, 3:45 p.m. to 8:15 p.m. Seminar topics include Export/ Import Strategies and Market Research, Pricing, Terms, Quotations and Customs Entry Procedures, International Banking, Financing, Transportation, and Documentation. Call (504) 568-8222.

Feb. 5 -"Trade and Investment Opportunities for Louisiana Companies in Ecuador" luncheon program at the WTC. Call (504) 529-1601, ext. 271.

Feb. 5 -WTC Language Classes begin. Call Alpha Tech at (504) 454-6554.

Feb. 6-8 -Mississippi Valley Trade & Transport Council Annual World Conference in New Orleans. Call (504) 566-1001.

Feb. 19, 20, -Export and import seminars by the Louisiana International Trade Center-SBDC, for the Shreveport/Bossier City, Louisiana area at the LSU Shreveport campus, 3:45 p.m. to 8:15 p.m. (See seminar topics listed above under Jan. 23, 28 and 30 dates.) Call (504) 568-8222.

Feb. 25, 26, -Export and import seminars by the Louisiana International Trade Center-SBDC, at the World Trade Center of New Orleans, 3:45 p.m. to 8:15 p.m. (See seminar topics listed above under Jan. 23, 28 and 30 dates.) Call 568-8222.

BUYUSA.COM

U.S. Secretary of Commerce Don Evans officially launched BuyUSA.com, an international electronic marketplace created by the U.S. Commercial Service and IBM. This program, designed to provide American companies with instant access to qualified foreign distributors, buyers, and sales leads, also allows participating companies to post business opportunities online, and provides exposure at promotional events worldwide.

USEFUL WEBSITES

• The African Development Bank (ADB) bi-monthly newsletter is located at www.afdb.org. ADB is the leading financial institution in Africa, and serves to improve the social and economic development of African countries.

• The Thomas Global Register is a directory of 500,000 manufacturers and distributors, listed among 10,500 industrial product classifications, and indexed in nine languages. Thomas Publishing is offering U.S. suppliers the opportunity to register online at no charge.

• Link to 15,000 news sources from 213 countries at www.esperanto.se/kiosk/index.html.

• "Environmental Export News", a quarterly publication by the Office of Environmental Technologies Industries, is posted at www.environment.ita.doc.gov (including back issues). Also included on the site: industry and country-specific marketing information, trade leads, events, and trade finance related to the environmental sector.

• Munitions exporters may locate listings of key personnel of the State Department’s Office of Defense Trade Controls (ODTC) at www.pmdtc.org. The ODTC is the Gatekeeper for the licensing of items controlled under the International Traffic in Arms Regulations.

Hazardous Material Export sites:

• U.S. Department of Transportation’s Office of Hazardous Materials Safety site at http://hazmat.dot.gov;

• International Air Transport Association Dangerous Goods online info page at www.iata.org/cargo/dg/index.htm.

TRANS-PACIFIC MARITIME CONFERENCE IN CALIFORNIA

The Journal of Commerce Group will host the 2nd Annual Trans-Pacific Maritime Conference on March 4 and 5, in Long Beach, California. For further details, visit the conference’s website at http://www.cvent.com/I.asp?code=eedlhheioozipbqlrriibbviieolih2c73 to view the invitation and respond via e-mail. The website includes information on registration fees, the conference agenda, and travel arrangements. To register by phone, call (973) 848-7154 or by fax (973) 848-7045.

INDUSTRY MARKET REPORTS

Following is a list of various U.S. Commercial Service Industry Market Insight Reports. For the entire report(s), call the New Orleans U.S. Export Assistance Center at (504) 589-6546.

Brazil - Business Opportunities Abound in Petropolis Area;

France - -The Change from the French Franc to the Euro: Impact on U.S. Firms;

New Zealand - Supply of Surgical/Medical Consumables;

Russia - Pharmaceuticals Market in Primorskiy Krai;

Saudi Arabia - Discovery of a New Oil and Gas Field;

Saudi Arabia - -Gas Find by Saudi Aramco Links Large Fields;

Saudi Arabia - -5th Saudi Oil, Gas, Petrochemical & Power Exhibition 2002

WTC SPRING LANGUAGE CLASSES TO BEGIN FEBRUARY 5

For the 54th consecutive year, the World Trade Center will offer its spring session of foreign language classes starting the week of February 5 at the WTC Building in New Orleans. The classes are conducted by the faculty of Alpha Tech Communications. The emphasis is on business usage and conversation. The spring session will last 11 weeks: classes will meet once a week for two hours. The following languages will be offered: French, Spanish, German, Italian, Japanese, Chinese, Russian, Arabic, and English as a Second Language. Tuition is $130 for WTC members and their spouses and $260 for non-members. (Registration and materials cost $45.) Free parking is available in the WTC Garage. Call Alpha Tech at (504) 454-6554.

AFGHANISTAN LECTURE AVAILABLE ON VIDEO

A videotape of Dr. S. Frederick Starr’s lecture on "Afghanistan’s People, Politics, and Religion: A Rubik’s Cube with No Solution?" delivered on October 11, at the Omni Royal Orleans Hotel and sponsored by the Historic New Orleans Collection, is now available through the World Trade Center of New Orleans. Dr. Starr is the Founder and Chairman of the Central Asia-Caucasus Institute at Johns Hopkins School of Advanced International Studies and Acting Director of the University of Central Asia. The videotape is 63 minutes in length and costs $10 for WTC and Historic New Orleans Collection members, and $20 for non-members. To order the videotape, call (504) 529-1601.

WTC UPDATING INTERNATIONAL TRADE DIRECTORY

The World Trade Center is currently updating the Louisiana International Trade Directory, the official export-import directory of the State of Louisiana, which is sponsored by the Louisiana Department of Economic Development, the New Orleans U.S. Export Assistance Center, and the World Trade Center. The WTC will publish the 2002 edition later this month (hard copy and CD-ROM). The Directory is also posted on the WTC’s website with a free hyperlink to the sites of companies listed.

The Directory contains relevant information on over 1,800 of Louisiana’s exporters, importers, service providers, and trade organizations. To check current listings in the Directory, click here. Company listings in the Directory are complimentary. To list your company, fill out the online form or call (504) 529-1601, ext. 271 to request a form.

MISS. VALLEY TRADE/ TRANSPORT COUNCIL CONFERENCE

The Mississippi Valley Trade and Transport Council will host its Annual World Conference on February 6-8 at the Wyndham Hotel at Canal Place in New Orleans. The conference brings together buyers, sellers, traders, shippers, miners, and producers along with other industry leaders from around the world to gather in one central location for a three-day event. World events are shifting the business climate and markets. This conference provides an excellent opportunity to focus on the leading topics of interest.

Some of the important issues that will be discussed are:

• U.S. Import Coal Demand
• Demand for Raw Materials
• Transportation of Bulk Materials
• Petroleum Coke Demand
• New Infrastructure Projects
• Outlook for U.S. Coal Consumption

Mark your calendar to attend. Details on topics, speakers and registration can be found at the Council’s web site at www.mvttc.org, or by calling (504) 566-1001.

CHAMBER SIGNS ACCORD WITH FRENCH GOVERNMENT

The Louisiana chapter of the French-American Chamber of Commerce (FACC/LA) is the first of 19 chapters in the U.S. to enter into a formal agreement with the Economic and Trade Mission of the Embassy of France to promote French investment in and trade with Louisiana. French Embassy Minister-Counselor for Economic and Commercial affairs Jean-Fran�ois Boittin and FACC/LA President Damien Regnard signed the accord at a ceremony and reception held in the lobby of Hibernia Bank’s home office the evening of December 17. Ambassador Lindy Boggs gave the keynote address; other speakers included Louisiana Department of Economic Development Assistant Secretary Skip Smart, FACC/LA Co-Chairmen Lucien Boulad and Donald Hoffman, and Messrs. Boittin and Regnard.

Working through the French-Trade Commission in Houston, which will provide overall guidance to the Louisiana chapter, all the agencies of the French government and the network of French Chambers of Commerce and Industries will henceforth channel all investment and trade inquiries relating to Louisiana to FACC/LA. Under the terms of the agreement, an "International Volunteer in Administration" will be assigned to the FACC/LA office full-time to research investment and trade opportunities for French companies in Louisiana, respond to inquiries, and provide economic data. FACC/LA will also work closely with the Trade Commission to liaise with French companies attending conventions in New Orleans to focus their attention on doing business in Louisiana.

For further information on the accord and French business activities in Louisiana, contact the FACC/LA office at (504) 561-0070; fax (504) 592-9999; e-mail: info@faccla.com.

OIL AND GAS ACTIVITY IN CANADA

The following is recent news of oil and gas activity on the east coast of Canada, implications for U.S. companies, and upcoming oil and gas events in Canada.

Husky Energy Inc. announced that the White Rose Oil Field project had been given the green light by the governments of Newfoundland & Labrador and Canada to proceed with production. Husky Energy is the operator of the White Rose oilfield through its wholly owned subsidiary Husky Oil Operations Limited. Husky Energy has an interest in 13 significant discovery areas and nine exploration licenses. If Husky decides to go ahead with production drilling, quarterly forecasts will be issued of project requirements. Husky must now decide if the project will go ahead.

Marathon Oil will begin drilling the first, deep-water well off the coast of Nova Scotia in January, 2002. The well, called Annapolis, is located 315 km southeast of Halifax, Nova Scotia, and will cost between US$25 - 38 million (C$40-60 million). Marathon has hired the second largest drill ship in the world, the West Navion (Norwegian), to undertake the two-month drilling program.

Pan Canadian’s Deep Panuke offshore gas project has received the first stage environmental assessment, moving the field closer to production. Deep Panuke is PanCanadian’s major project on the East Coast. In February 2001, PanCanadian announced plans to produce natural gas from the Deep Panuke reservoir, located approximately 250 km southeast of Halifax. The total anticipated investment by PanCanadian in the Deep Panuke development is approximately US$641 million (C$1 billion). Commercial production is expected to begin in 2005.

El Paso Corporation announced last month that it is beginning the engineering studies for the Blue Atlantic Transmission System, a US$1.6 billion pipeline project designed to transport new natural gas supplies off the coast of Nova Scotia to markets in eastern Canada and the Northeastern region of the United States. The pipeline, designed to carry up to 1 billion cubic feet of natural gas per day via a 36 inch line, will be designed with a joint U.S.-Canada team and, as proposed, will be 1,200 km (750-mile) long.

The 2002 East Coast Canada Oil/Gas Contact List is now available from the U.S. Commercial Service in Halifax. This is a comprehensive listing of procurement officers, trade associations, industry publications, key web sites, regulatory agencies and more. The names of distributors, agents, and other potential business representatives are made available through Commercial Service programs such as the Gold Key Service.

BIDS Tendering System : Not to be confused with leasehold bidding, BIDS Nova Scotia is the online system being used by many east coast Canada oil/gas companies as the official vehicle for tender distribution. Potential vendors must register their companies with BIDS where the tender summaries can be reviewed at no charge; however, full details will require payment. BIDS sends tenders via e-mail or fax to registered companies based on the products or services sold by that company. In addition, tender results and any relevant information from the buyer, such as policy changes or project up-dates, will be forwarded.

Implications for U.S. Companies : For U.S. companies to fully capitalize on these opportunities, monitoring of east coast activities is essential. That, combined with some form of local content or presence, will usually allow for time to prepare competitive bids. Registering with the BIDS web site for relevant tender information is another way to stay abreast of upcoming opportunities. However, the only way to really gain a full understanding of the oil/gas business landscape in this part of Canada is to visit the region. A visit timed to coincide with one of the industry events, built into a U.S. Commercial Service Gold Key Service can provide the U.S. firm with an excellent overview of potential opportunities and important business contacts.

Upcoming 2002 Oil/Gas Events in Atlantic Canada of interest to U.S. companies:

Jan. 24-25 Northeast Natural Gas Symposium - Boston, MA

Jan. 17-18 -Energy Wise Deepwater Workshop - St. John’s, Newfoundland

June 18-20 -International Petroleum Conference - St. John’s, Newfoundland

June 19-20 -Offshore Newfoundland Petroleum Show - St. John’s, Newfoundland

July 17-18 Atlantic Gas Symposium - Halifax, Nova Scotia

Oct. 8-10 -Nova Scotia Oil & Gas Conference & Trade Show - Halifax, Nova Scotia

(This article was edited from an industry report prepared by Mr. Richard Vinson, Commercial Specialist with the U.S. Commercial Service in Halifax, Canada.)

Contact the U.S. Export Assistance Center in New Orleans at (504) 589-6546, or in Shreveport at (318) 676-3064 for more information.

U.S. TRADE COMPLIANCE CENTER AND CHINA HOTLINE

The Trade Compliance Center (TCC) is a U.S. Department of Commerce one-stop shop to help American exporters facing foreign trade barriers and to assure that foreign countries comply with their trade commitments. Report to the Trade Compliance Hotline any trade barriers or unfair trade situations affecting your company.

Features on the TCC website include:

• Trade and Related Agreements Database with over 250 U.S. Agreements;

• Exporter Guides to U.S. Trade Agreements—plain language "how to" guides that will help you get the most out of trade agreements;

• Market Access Reports with information on foreign market conditions, trade policies, and import regulations;

• Market Monitor with up-to-date news on changes affecting market access.

• Trade Hotlines, such as: Bribery Hotline; Trade Complaint Hotline; and China Compliance Hotline.

The China Compliance Hotline (CCH) offers assistance in resolving trade problems with China. If you are facing barriers or impediments to your exports, if your exports are being restricted by Chinese government actions, or if you just believe you are being treated unfairly in China, log on to the CCH for help.

For details on the above material, visit www.mac.doc.gov/tcc.

NEW EU PRODUCT WARRANTY DIRECTIVE TAKES EFFECT

U.S. exporters of consumer products to the European Union should take note of a new piece of consumer protection legislation that became effective January 1, 2002. This legislation requires a minimum two-year warranty on all consumer goods sold in the 15 countries of the European Union (Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden, and the United Kingdom).

The European Union approved legislation on May 25, 1999, that was intended to harmonize the guarantees offered by professional sellers of consumer goods throughout the EU (1999/44/EC—commonly known as the Product Warranty Directive). This legislation requires a warranty of at least two years from the time goods are delivered. Sellers whose products are found not to conform with the "contract" between the buyer and seller at the time the goods were delivered are required to replace or repair the defective goods free of charge, reduce the price of the goods, or release the consumer from the "contract." This would seem simple enough; however, as with any regulation, the devil is in the details!

Are my products covered by the Product Warranty Directive?

If you sell a consumer good, the answer is yes. This Directive regulates the sale of all consumer goods. A consumer good is defined under the law as "... any tangible movable item, with the exception of: goods sold by way of execution or otherwise by authority of law; water and gas where they are not put up for sale in a limited volume or set quantity." These exceptions apply to public utilities only.

What is meant by "contract"?

While the term "contract" may apply to a written agreement between the seller and the buyer, a warranty covering the product’s fitness for certain applications or its performance characteristics is also viewed as a "contract" between the seller and buyer. Even advertising claims can create liability.

What exactly is my liability?

According to Article 2 of the Product Warranty Directive, consumer goods are presumed to be in conformity with the contract if they meet the following conditions:

1. Comply with the description given by the seller and possess the qualities which the seller has held out to the consumer in a sample or model;

2. Are fit for any particular purpose for which the consumer requires them and which the consumer has made known to the seller upon conclusion of the contract, and which the seller has accepted;

3. Are fit for the purposes for which goods of the same type are normally used; and/or

4. Possess the quality and performance which are normally found in goods of the same type and which can reasonably be expected by the consumer, given the nature of the goods and taking into account any public statements on specific characteristics of the goods made about them by the seller, the producer, or his representative, particularly in advertising or on labeling.

Lack of conformity due to incorrect installation is considered lack of conformity of the goods if installation formed part of the contract. By contrast, if at the time the contract was concluded, the consumer was aware of a lack of conformity of the goods, the seller has no liability to the consumer for that lack of conformity. Likewise, if the lack of conformity has its origin in materials supplied by the consumer, the seller has no liability.

What other points are important?

First, this law cannot be applied extraterritorially. In practical terms, this means that if you export from the United States, you have the option of refusing to accept your importer’s liability. Even if you are also the importer, depending on how this law is interpreted in the courts, you may be able to refuse to accept liability as long as you are not the final seller of the good.

Second, unless proven otherwise (for example in a civil proceeding), any lack of conformity which becomes apparent within six months of delivery of the goods is presumed to have existed at the time of delivery, unless this presumption is incompatible with the nature of the goods or with the nature of the defect. This means that the buyer has a maximum of six months to establish that the goods are defective or do not perform. Furthermore, the burden of proof is on the buyer.

The third point to remember is that case law will ultimately serve to interpret the gray areas. To limit your liability, you may want to consider including appropriate language on the product’s packaging or in product literature specifying its intended uses.

Also, this law is supposedly guided by the "rule of reason," which states that there is no lack of conformity if the buyer was aware of, or could reasonably be expected to be aware of, a lack of conformity. Also, the two-year warranty would not apply to perishable goods, or unintended uses, for example. Presumably, this would also include goods that do not normally have a two-year life span (such as a pencil).

How does the Product Warranty Directive change my liability in Europe?

The Product Warranty Directive was not meant to change your liability—it was intended to harmonize consumer protection rules within the EU. However, the reality is that the standard may have been raised in some Member States which did not previously provide for a minimum two-year warranty. Moreover, implementing legislation will vary from Member State to Member State. This Directive sets a minimum standard. Member States are free to adopt more stringent regulations, so long as they do not contradict the Product Warranty Directive. Individual Member States have until the end of this year to submit their implementing legislation to the Commission for review.

This is a summary of certain aspects of the Product Warranty Directive (1999/44/EC). To view the full Directive text, use the following web link: www.europa.eu.int/eur-lex/en/lif/dat/1999/en_399L0044.html

[This article is an edited version of a report submitted by Kenneth Mouradian, U.S. Commercial Officer in Brussels. It was originally published in "Trading Fare," the newsletter of the Milwaukee World Trade Association ( http://www.mwta.com ).

LE CENTRE INTERNATIONAL TO LEAD TRADE MISSION TO SPAIN

The 15th Annual International Business Exchange will take place in Badalona/Barcelona, Spain on May 21-23. Le Centre International de Lafayette will be organizing a trade mission, departing from Louisiana on May 15, spending three days in Madrid and arriving in Barcelona on May 19. The Trade Mission is co-sponsored by the Louisiana Department of Economic Development, the Louisiana International Trade Center, the New Orleans Export Assistance Center, and the World Trade Center of New Orleans. While in Madrid, participants will have a briefing by the United States Commercial Service and meetings with Spanish business leaders. Mission participants will also tour major tourist sites in Madrid, Toledo, and Barcelona.

The 2002 International Business Exchange will concentrate on the environmental sector and will be an international forum on cities, companies and the environment, with a symposium on "Ecodesign and Green Products". Among the topics to be dealt with are the minimization of waste and power consumption, industrial and management processes to reduce adverse environmental impact, the promotion of green (natural, non-polluting) purchasing on the part of public administration, sustainable urban and industrial development, ISO 4000 certification, etc.

The International Business Exchange is an annual event of the SESAME Network, a group of mid-sized cities from all over the world which have banded together to promote their mutual economic and cultural development. In addition to the symposium on May 21 and 22, targeted one-on-one business meetings will be set up on May 23 for all companies participating, with translation services if required. Participating companies will have the opportunity to meet with their counterparts and potential clients from Belgium, Brazil, Canada, Chile, China, Finland, France, Italy, Portugal, Russia and Spain. Companies interested in becoming part of this exciting trade mission are invited to call Le Centre International de Lafayette at (337) 291-5474 or e-mail info@lecentre.org to obtain detailed information and a registration form.