Next week, starting May 19th, marks the beginning of World Trade Week, officially proclaimed as a national observance by the US Government in 1935 by President Franklin Roosevelt. President Roosevelt selected the third week in May each year which includes May 22, National Maritime Day.
What is World Trade Week?
The concept of World Trade Week began in 1926 and was first observed in 1927 in Southern California as a means to promote the Ports of Los Angeles and Long Beach, California. World Trade Week (WTW) has grown since then to a week set aside to pay tribute to the importance and benefits of global trade. This week dedicates itself to educating the public on the importance and benefits of global trade on local and national economies.
What is its significance?
International trade provides a multitude of benefits including job creation and growth, along with growing the prosperity of countries. International trade also provides a multi-lateral network for the movement of goods internationally. In a Presidential Proclamation in 2012, US President Barack Obama highlighted the essential role exports play in creating jobs and growing the US economy.
How is it celebrated?
World Trade Week is celebrated across the US. States like New York, California and Michigan host events which bring in speakers from around the world. How will you celebrate World Trade Week?