Since 2009, the International Commerce Club (ICC NJ) has invited Berkeley College students to participate in an annual international trade essay contest. The winners receive a $500 scholarship and the prestige of winning an academic contest sponsored by the New Jersey trade association specializing in international transportation and trade.
The International Commerce Club of New Jersey had its beginning in 1972 and was formed with the intention of fostering international trade and development in the tri-state area. The founder and first president of the club, Robert Cioppa, realized there was a need for a traffic club in New Jersey. He formed the club after meeting with representatives from the local Chamber of Commerce, several steamship lines, and area traffic managers. Membership includes representatives from steamship lines, freight forwarders, import/export companies, and other businesses involved in international commerce in the metropolitan area.
The club also awarded its first scholarship in 1983 to an individual studying International Business. Each year the club awards the Linda Conte Cuccurullo Scholarship, and since 2009, the club has given Berkeley College students the opportunity to apply for an ICC scholarship.
Previous winners from Berkeley College are Juan Esteban Arroyave and Bundari Yusuf Salim.
The questions for the 2013 essay contest, which were developed by Berkeley College International Business faculty, are below and may also be accessed here. The deadline for submission is April 26; winners will be announced by May 8. The ICC Scholarship Dinner will be held on May 15 in Secaucus.
1. In his State of the Union address, President Obama called for a free-trade agreement between the United States and the European Union. His statement set the stage for talks to remove tariff barriers and regulatory hurdles between the United States and the European Union, which are already each other’s largest trading partners. The Transatlantic Trade and Investment Partnership (Tafta) is expected to be something like a sequel to the Nafta deal.
Experts cited tough economic times on both sides of the Atlantic and a perceived need among European leaders for a cause to unify their frayed union as major reasons that an agreement might be reached now, where past efforts have failed. But an even greater consideration, they said, was the growing economic might of China.
Tariffs on goods traveling between the United States and Europe are low, averaging about 3 percent, but proponents say that the savings from eliminating duties would still be significant because the volume of trade is so enormous. Trade in goods between Europe and the United States totaled $646 billion last year, according to United States government figures.
Please examine the implication of such an agreement coming into force – its effect on volume and trade patterns, goods and merchandise, shipping services, and port infrastructure. In addition, it will be useful to examine how this development will affect China’s exports to these two trading partners.
2. The Panama Canal is currently expanding in order to accept much larger ships than the current 5,000 container size limit. This capacity should come on line in 2014 and will allow the newest high capacity ships to navigate the canal.
Please examine the effect on American shipping industry and ports. What effects will this have on trade, logistics, industry, and consumers? What are the prospects for the new capacity to increase exports and aid in regional and global economic expansion in the following years?
Responses are due by April 26, 2013. Please email or mail your completed application and essay to:
Port of Tacoma
777 Springfield Avenue, Unit 11
Summit, NJ 07901