Volume 31 | February 2023 |
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Where Europeans & Americans Connect to do Business |
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A Message from the President |
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Business in Flux
Perspectives from a Transatlantic Panel of C-Suite Women
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Tuesday February 21, 2023 |
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At the end of 2022, the IMF’s annual economic outlook for 2023 projected weak growth across the world in the face of elevated inflation, higher interest rates, reduced investment, disruptions caused by Russia’s invasion of Ukraine and the lingering impact of COVID especially in China. The sharp downturn in growth was expected to be widespread, with World Bank forecasts in 2023 revised down for 95% of advanced economies and nearly 70% of emerging market and developing economies. Although the economic indicators at the start of 2023 seem to be more favorable than expected, any new adverse development—such as higher-than-expected inflation, abrupt rises in interest rates to contain it, a resurgence of the COVID-19 pandemic, or escalating geopolitical tensions—could push the global economy into recession.
In this program, a transatlantic panel of C-Suite women joined by Arancha González Laya, former Minister of Foreign Affairs of Spain and Dean of the School of International Affairs at Sciences Po in Paris, will explore these and other challenges faced by global companies in this uncertain global geopolitical and economic environment.
Speakers
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Carol Cabezas, President - Azamara Cruise Lines
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Arancha Gonzalez-Laya, Dean of the Paris School of International Affairs at Sciences Po (Paris)
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Daniella Silberstein, Shareholder – Greenberg Traurig and Co-chair of Greenberg Traurig's Miami Women’s Initiative [Moderator]
- Additional speakers to be announced
Topics for discussion
- What are the economic perspectives for 2023 and is recession still a risk?
- How will business investment respond to recent changes in asset prices and the commitment of monetary policymakers around the world to slower growth?
- What are the perspectives for the transatlantic relationship in relation to business and trade ?
- What will the return of industrial policy in the U.S. (with the Inflation Reduction Act) mean for transatlantic investment and trade?
- What will be the longer-term ramifications for global fragmentation of the sanctions imposed on Russia and on Chinese semiconductors?
- Are there new roles for China, India and in particular Latin America in this new economic environment?
- How are these trends playing out in places like Florida and Miami in their efforts to establish themselves as global business hubs?
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Daniella Genet Silberstein |
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Date: Tuesday February 21, 2023
Time: 8.30am - 10.30am
Location: Greenberg Traurig - Miami
Registration Fee
- EACC Member: Free
- Guest with Promo Code: Free
- EACC Non-Member: $30
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February 1, 2023 - 1.00pm - 2.00pm I Webinar
ESG in the Workspace - Brought to you by Cozen O'Connor. Details here.
February 9, 2023 - 9.00am - 10.00am I Webinar
R&D Tax Credits for Manufacturers - Brought to you by Kaufman Rossin. Details here.
February 10, 2023 - 12.00pm - 2.30pm I In Person
Bilateral Trade & Investment with Poland - Brought to you by the Polish Investment and Trade Agency (PAIH), Malopolska Tourism Organization (MOT), and Krakow Balice Airport. Details here.
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EU - Data protection: Commission Starts Process to Adopt Adequacy Decision for Safe Data Flows with the US. The new rules will foster safe trans-Atlantic data flows and address the concerns raised by the Court of Justice of the European Union in its Schrems II decision of July 2020. Read more.
EU - Croatia Joins the Eurozone and Shengen. On 1 January 2023 Croatia adopted the euro as its currency and fully joined the Schengen area marking an important milestone in the history of Croatia, of the euro and Schengen areas and of the EU as a whole. Read more.
EU - Foreign Subsidies Regulation: Rules to Ensure Fair and Open EU Markets Enter into Force. The FSR applies to all economic activities in the EU: it covers concentrations (mergers and acquisitions), public procurement procedures and all other market situations. The new rules give the Commission the power to investigate financial contributions granted by non-EU countries to companies engaging in an economic activity in the EU and redress, if needed, their distortive effects. Read more.
EU-US - Trade and Technology Council Addresses Common Challenges and Responds to Global Crises. Both sides took stock of the work of the EU-US Task Force on the Inflation Reduction Act, where the EU reiterated its strong concerns related to its discriminatory provisions and distortive subsidies. Read more.
EIB - First Ever Digital Bond in Pound Sterling Issued. The European Investment Bank priced its first ever £50 million digital bond using a combination of private and public blockchains operated and accessed via HSBC Orion – the bank’s tokenisation platform. It follows the recently adopted Luxembourg legal framework tailored to allow for the issuance, transfer and custody of dematerialised securities on distributed ledger technology (DLT) infrastructure. Read more.
EU-US - Security, Technology, Raw Materials, Online Platforms: Updating the Transatlantic Partnership in the New Geopolitical Order. Speech by Commissioner Breton.
OECD - Revenue Impact of International Tax Reform Better than Expected. The two-pillar solution to address the tax challenges arising from the digitalisation and globalisation of the economy will lead to additional taxing rights for market jurisdictions and put a floor on tax competition through the creation of a global 15% minimum effective corporate income tax rate. Read more.
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EU-US - EU Welcomes Access to US Subsidy Scheme for Commercial Vehicles. Under the US guidance, Commercial Clean Vehicle Credits will be available to EU companies without requiring changes to established or foreseen business models of EU producers. This strengthens EU-US cooperation in fighting climate change and bolsters transatlantic supply chains. Read more.
EU-US - Report on the Impact of AI on the Future of Workforces in the EU and the US.
The report synthesize the perspectives of the US and European Union and academic work from both countries with a focus on implications relevant to policymakers. Read more.
EU - US I Cyber Resilience - Joint Statement by US Secretary of Homeland Security Mayorkas and EU Commissioner for Internal Market Breton. Read it here.
IMF - United States Is World's Top Destination for Foreign Direct Investment. The US is now the world’s top destination for FDI, while China has moved up to the third position. Smaller economies take prominent positions among the global top 10 including The Netherlands, Luxembourg, Ireland, and Switzerland all appear on this list. Read more.
LatAm - EU and Chile Strengthen a Comprehensive Political and Trade Partnership. The EU and Chile concluded negotiations on the EU-Chile Advanced Framework Agreement taking their partnership to take their partnership to the next level to strengthen political dialogue, deepen cooperation and foster trade and investment opportunities. Read more.
LatAm - Coalition of Trade Ministers on Climate Launched. Co-lead by Ecuador, the EU, Kenya, and New Zealand, this Coalition will promote trade and investment in goods, services and technologies that help mitigate and adapt to climate change.Other countries include Barbados, Canada, Colombia, Costa Rica, Iceland, Norway, Switzerland, Ukraine, United Kingdom and the United States. Read more.
LatAm - 5 Trends to Watch. Natural Resources Supporting Post-Carbon Economy May Attract Investors; Strong U.S. Dollar May Lead to Weaker Currencies in Region; Consumer Demand Could Buoy Fintech/Financial Services Sectors; Opportunities for Engineering, Construction Firms to Build Infrastructure;
Political Unrest Could Slow Foreign Investment. Read more.
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EACC Florida
MEMBER and PARTNER INSIGHTS
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Possible Options for Nonimmigrant Workers Following Termination of Employment. On December 19, 2022, U.S. Citizenship and Immigration Services (USCIS) released information regarding nonimmigrant workers whose employment is terminated, either voluntarily or involuntarily. USCIS indicated that nonimmigrant workers may have several options for remaining in the United States in a period of authorized stay based on existing rules and regulations. Read more.
USCIS Extends Green Card Validity for Certain Conditional Permanent Residents. USCIS announced that it will be extending the validity of Permanent Resident Cards (i.e., Green Cards) for petitioners who properly file Form I-751, Petition to Remove Conditions on Residence or Form I-829, Petition by Investor to Remove Conditions on Permanent Resident Status, for 48 months beyond the card’s expiration date. Read more.
USCIS Announces Final Phase of Premium Processing Expansion. U.S. Citizenship and Immigration Services (USCIS) announced it is implementing the final phase of its planned premium processing expansion for Form I-140, Immigrant Petition for Alien Workers, under the EB-1 and EB-2 classifications. This phase will apply to new (initial) petitions, in addition to all previously filed Form I-140 petitions under an E13 multinational executive and manager classification or E21 classification as a member of professions with advanced degrees or exceptional ability seeking a national interest waiver (NIW). Read more.
Compliments Cozen O'Connor
5 Trends to Watch: 2023 Data Privacy & Cybersecurity. An Increase in Extortion-Only Cyber Attacks; Continued Increase in Legal Requirements for Company-Held Data; Increasing Vendor Due Diligence; Enforcement of California’s Privacy Law; More Privacy Class Action Litigation Based on Wiretapping Laws. Read more.
Draft German Energy Efficiency Act Would Impact the Operation of Data Centers in Germany. Germany has recently proposed a draft bill for an Act on energy efficiency in order to increase energy efficiency, improve climate protection and implement EU law which will, in particular, have an impact on data center operators. Read more.
EB-5 Insights: France. Key insights include: Confirmation that third country nationals will be accepted for nonimmigrant and immigrant visa processing at the U.S. Embassy in Paris, including Russian, Iranian, and Ukrainian nationals. As a reminder, acceptance of a visa application and scheduling of a visa appointment do not guarantee visa application approval, visa issuance, or negate any grounds for refusal. Read more.
Compliment Greenberg Traurig
10 Tax and Reporting Considerations for U.S. Taxpayers with Foreign Ties. As the 2023 tax season gets underway for the 2022 tax year, individuals and businesses with foreign tax connections have extra considerations to keep in mind. Although no significant U.S. tax laws came into effect for international businesses in the 2022 tax year, reporting requirements have become more complicated in recent years as the U.S. seeks to capture additional tax revenue from international companies and transactions. Read more.
7 Real Estate Trends Set to Shape South Florida in 2023. Nearly three years of the COVID-19 pandemic have had a lasting impact on real estate markets across the country. In South Florida, we continue to see accelerating in-migration of people and companies – but there are other signs that the market is slowing down. Read more.
Compliments Kaufman Rossin
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EACC Florida
Young Voices from the Future
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Each month, the EACC Florida Newsletter features a young person - a student, an artist, an entrepreneur - whose identity, vision, project or dreams illustrate the vibrancy of Florida's transatlantic community. If you would like to suggest someone, please contact us HERE. And if you missed one of our Young Voices from the Future, you can find them HERE.
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George Ghenea – A Romanian-American Fencing Aficionado |
George was born in 2005 in Santa Monica from Romanian parents. His father is from the capital, Bucarest, and his mother from Sibiu, a medieval town in Transylvania. George moved to Miami with his parents in 2018 after his father was appointed Consul General of Romania in Florida.
George is perfectly bilingual and has dual US and Romanian citizenship. He returns to Sibiu every summer to visit with family and friends and looks forward to eating his grandmother’s “sarmale” (Romanian cabbage rolls) and “clatite” (Romanian crepes) and Romania’s famous ice-cream while strolling the old streets of Sibiu with his friends.
George is a Senior at MAST Academy in Key Biscayne and is in the process of deciding where he will go to college and hopes to be admitted to the University of N. Carolina. He loves all things related to problem-solving and would like to study Finance. George is also an accomplished athlete with a passion for fencing. He competed in many national championships and was selected twice for 2nd team All-American and 1st team All-Academic. He hopes to continue fencing in college.
George also has a creative and entrepreneurial streak and already started two businesses: a sneaker business in LA and Miami in 2017, and in the summer 2021, he founded Red Duck NFT with a friend where they designed a collection of NFTs and published them to marketplace with a current value of 8.5 Ethereum.
Not too bad for a 17 year-old !
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Kaufman Rossin Joins as Platinum Member! |
EACC Florida is delighted that Kaufman Rossin is upgrading its membership to Platinum in 2023.
We look forward to working closely with the Kaufman Rossin team this year and for many years to come !
Let Joy become our bottom line as well !
"At the Kaufman Rossin Group, it’s our business to make joy your bottom line. With 60 years of experience and clients all over the globe, we provide professional services to businesses and their leaders, serving entrepreneurs, public companies, non-profits and individuals. The Group includes Kaufman Rossin CPA + Advisors, one of the top 100 accounting and advisory firms in the U.S., along with Kaufman Rossin Wealth, Kaufman Rossin Insurance Services, and Kaufman Rossin Alternative Investment Services. We bring technical mastery, collective intelligence and integrity to our work for every client. But it’s the listening, innovating and caring of our more than 500 team members that bring joy to clients – they give us 4.9 stars! It all starts with our joy-at-work, people-first culture, which has won us repeat honors as a Best Place to Work."
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Canero Lammers Fadul Acevedo PLLC Joins as a Corporate Member |
We understand where you come from, and we know how to get where you want to go. We take pride in solving our clients’ immigration issues. With over 55 years of combined experience, Canero Lammers Fadul Acevedo Immigration Law Group is dedicated to providing our clients with informed, tailored, and effective legal advice on all immigration matters.
We are committed to sustainable development, which begins with our clients. We look at each person who becomes our client as a long-term commitment, and we seek solutions to reach the long-term goals of our clients.
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Recommend EACC Florida to a Client or Business Partner |
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EACC is a Connector
We open doors for our members across our chapter network on both sides of the Atlantic and we keep you informed on the relevant issues affecting your business.
Members of the EACC network enjoy:
♦ Access to our network of high-level business executives & our unique referral service
♦ Invitations to exclusive seminars & a direct exchange with transatlantic experts
♦ Visibility for your organization & opportunities to showcase your thought-leadership
♦ The ability to make a difference & actively engage in the Trans-Atlantic business dialogue
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TRAVELLING?
Meet the EACC Network
Our Members are Part of Something Bigger
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Together with its sister chapters, EACC Florida is part of a growing and highly dynamic transatlantic network reaching over 10,000 executives in the US and across Europe. With over 750 members, the EACC is a valuable resource for any size business. If you would like to get involved, let us know.
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Founding Members / President's Circle / Platinum |
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