Daily Briefing


July 11, 2009

State opens trade, investment office in Vietnam

Vietnam is the latest foreign locale where Maryland will open an office to foster trade and investment, the state Department of Business and Economic Development announced Friday. The new office, to be co-located in Hanoi and Ho Chi Minh City, brings the state's total number of foreign offices to 13. As with others that opened around the world in the past year, the Vietnam office will operate on a contingency basis, with any future state funding tied to the ability to attract companies and jobs to Maryland. Gov. Martin O'Malley said in a statement that "Vietnam is widely regarded as having the strongest economic potential in Southeast Asia."

- Laura Smitherman

May trade deficit drops unexpectedly to $26 billion

WASHINGTON - The U.S. trade deficit fell to the lowest level since late 1999 in May as exports posted a small gain while the weak American economy pushed imports down for a 10th straight month. The slight rebound in exports, combined with a slower pace of decline in imports, showed that the drop in global activity may be ebbing. Delayed revivals overseas likely will hinder a rebound in the U.S., but most analysts still expect the U.S. economy to grow a bit later this year. The Commerce Department said Friday the deficit narrowed to $26 billion, a drop of 9.8 percent from April.

-Associated Press

Baltimore Sun Articles
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.