Global Miami Magazine July August 2024

GLOBAL MIAMI

Ivan Barrios, President and CEO and Alice Ancona, COO of WTC Miami

“Greetings, event planners! I’m delighted to roll out the red carpet (or should I say the sandy shores?) for you in Greater Fort Lauderdale — a tropical oasis celebrated for its rich tapestry of 31 distinct communities, proudly representing 170 nations. Whether you’re gearing up for a conference or a glamorous gala, our recently expanded $1.3 billion venue has got you covered. Join us in crafting unforgettable memories against the breathtaking backdrop of our Intracoastal Waterway, where everyone under the sun is welcomed.”

– Stacy Ritter, President & CEO of Visit Lauderdale

Rising from One Brickell, with stunning views of Biscayne Bay, Miami River, and the Downtown skyline – Viceroy brings a new level of culture, style, and luxury to the heart of Miami.

Now Under Construction – Delivering end of 2025 – Starting from the $600,000s

VOL 2. ISSUE 3 FEATURES

TRADE WINDS

While the state of Florida enjoys most of the trade and investment with Germany, Miami is a growing hub for high-tech and startups, such as aviation and biotechnology. The German presence is permeating sophisticated industries such as aviation and biotechnology and also making strides in other areas of Miami’s economy, establishing footholds in diverse sectors.

THE TAIWANESE MODEL

With Miami as a critical link, Latin American nations look to Taiwan as the model for modernization. A forum last month brought together former Latin American presidents, Taiwanese and Japanese officials, and industry experts to discuss the Asia-Pacific’s role in fostering global economic integration.

SPECIAL REPORT

THE POWER OF WORLD TRADE

The Past, Present and Future of the World Trade Center Miami. WTC Miami has been around for more than 37 years. Like the 300+ other members of the World Trade Centers Association in 90 countries, its job has been to facilitate international trade by connecting private companies from around the globe.

The Vision of Trade

Creating the powerhouse of Miami as the Gateway to the Americas was no easy task. I’ve mentioned this in past notes; that Miami made a major shift in its business model starting in the late '70s and well into the '80s. The catalyst for this shift can be found in the word “Vision.”Someone had the vision to see the geopolitical location for Miami as the greatest strength our community could leverage for growth, well into the future.

Vision is used purposely on this month’s cover as we feature the World Trade Center Miami and the major contributions this organization has made to our community since 1987. That’s not to say that others haven’t been involved in global trade: The Beacon Council, The Greater Miami Chamber of Commerce, Camacol, the Florida International Banker’s Association (FIBA) and myriad other groups developed simultaneously, reaching out to the Americas and presenting Miami as a great opportunity.

In the early days, these same groups would conflict with each other, offering similar trade delegations, trade seminars, and trade trips to Latin America – many scheduled at the same time. But, if you understand that out of chaos comes order, this was a period during which varying entities competed, formed better alliances, eliminated some entities, and eventually created a niche in the marketplace in which Miami (and South Florida) would emerge as a nexus for global trade.

The World Trade Center Miami was clearly a major force and the winner in this competition. It is the oldest international business organization in the region, having had an incredible Board of Directors from the outset to the current day: heads of

airports, seaports, and logistics organizations such as FedEx and UPS, top executives in the public sector, top attorneys and accounting firms, top bankers, real estate developers, airline owners, leaders at the Florida Customs and Brokers Association, communications firms, and so on. The Board’s membership has been defined by top icons in the international business community, many of whom are mentioned in the cover story feature. With years of real-time experience, they forged the growth of WTCM as the most vibrant entity in this market, developing some of the most successful trade shows in recent history – the Americas Food & Beverage Show and Air Cargo of the Americas – as well as their signature International Achievement Awards and International Women’s Achievement Award ceremonies.

Originally headed by Charlotte Gallogly, for many years as CEO and President, a new generation of leaders has emerged taking the organization into the 21st century. Ivan Barrios and Alice Ancona (on this month’s cover) are now the top executives charged with keeping the vision strong, and they’re doing a remarkable job.

So, yes, vision is the active word for the success of our international trade community in South Florida. They have taken that vision and made it work, a template for a successful future.

RICHARD ROFFMAN

PUBLISHER

GLOBAL MIAMI MAGAZINE

MIAMI

PUBLISHER

Richard Roffman

EDITOR-IN-CHIEF

J.P. Faber

ASSOCIATE PUBLISHER Gail Feldman

SENIOR VICE PRESIDENT INTERNATIONAL

Manny Mencia

DIRECTOR OF OPERATIONS

Monica Del Carpio-Raucci

SALES AND PARTNERSHIPS

Sherry Adams

Amy Donner

Andrew Kardonski

Gail Scott

DATA ANALYST/SENIOR EDITOR Yousra Benkirane

WRITERS

Karen-Janine Cohen

Doreen Hemlock

Joe Mann

Katelin Stecz

ART DIRECTOR

Jon Braeley

PHOTOGRAPHERS

Rodolfo Benitez

Jorge Oviedo

PRODUCTION DIRECTOR Jorge G. Gavilondo

PROOF READER Lesley Fonger

CIRCULATION & DISTRIBUTION CircIntel

BOARD OF ADVISORS

Ivan Barrios, World Trade Center Miami

Ralph Cutié, Miami International Airport Gary Goldfarb, Interport

Bill Johnson, Strategic Economic Forum

Roberto Munoz, The Global Financial Group David Schwartz, FIBA

EDITORIAL BOARD

Alice Ancona, World Trade Center Miami

Greg Chin, Miami International Airport

Tiffany Comprés, FisherBroyles

Paul Griebel, Venture for America

James Kohnstamm, Miami-Dade County

John Price, Americas Market Intelligence

TJ Villamil, Select Florida

COVER PHOTO by Rodolfo Benitez

Global Miami Magazine is published bi-monthly by Global Cities Media, LLC. 1200 Anastasia Ave., Suite 217, Coral Gables, FL 33134. Telephone: (305) 452-0501. Copyright 2024 by Global Cities Media. All rights reserved. Reproduction in whole or part of any text, photograph, or illustration without o\prior written permission from the publisher is strictly prohibited. Send address changes to subscriptions@ globalmiamimagazine.com. General mailbox email and letters to editor@globalmiamimagazine.com

THE MOST TRUSTED LOGISTICS PAYMENT PLATFORM

With the largest multi-modal logistics network in the industry, PayCargo allows for faster release of cargo and improved daily cash flow for all types of freight payments and invoices.

Recent Transactions Affecting Global Trade and Investment

TECH PARTNERSHIP

Broward-based Magic Leap has entered a partnership with Google, one of the world’s largest technology companies. The collaboration will integrate Magic Leap’s augmented reality technology with Google’s platforms. Founded in 2010, the company has raised at least $3.5 billion, including over $800 million from Saudi Arabia’s Public Investment Fund.

BBVA RETURNS

Argentinian-based BBVA Group has re-entered the US Offshore business by creating a new entity, BBVA Global Wealth Advisors. The firm opened the office in Miami to meet the high demand for its services from Latin American clients. In 2021, BBVA Group sold its U.S. banking entity to PNC Bank.

AFA-FIU SPORTS LEADERSHIP

Florida International University’s Kimberly Green Latin American and Caribbean Center, and the Argentine Football Association (AFA), have launched the AFA-FIU Professional Certificate in

Sports Leadership. The 10-week program, running first from June 27 to August 29, aims to share sports management methodologies and models globally.

MONEY TRANSFER SOLUTIONS

XTransfer, a China-based B2B cross-border payment platform, has partnered with global money transfer provider TerraPay to enhance payment solutions for SMEs in international trade. This will enable XTransfer to offer payments in local currencies in 136 countries. TerraPay’s HQ is in London with offices worldwide, including Miami.

FIRST BIOFUEL TRANSPORT

Switzerland’s Avolta, a leader in global retail travel solutions, has partnered with logistics giant DB Schenker to initiate the first marine biofuel transport route between Barcelona and Miami. The initiative marks a significant step in sustainable maritime transport, utilizing waste cooking oil. The technology reduces CO2 emissions by up to 84 percent.

NEW PORT DIRECTOR

Port Everglades has appointed Joseph Morris (above) as its new port director following a five-month search. Morris succeeds interim director Glenn A. Wiltshire, who took over after former CEO Jonathan Daniels resigned to join the Maryland Port Administration and Port of Baltimore earlier this year.

BANK ACQUISITION

Miami-based Inter&Co announced that Banco Inter S.A., its fully owned subsidiary, has entered into a share purchase agreement to

acquire the remaining 50 percent of Granito for $21 million. Granito is a financial services provider for over 100,000 SMEs in Brazil.

RIA EXPANSION

Miami-based wealth manager and RIA Insigneo has added Nevasa, a wealth manager and broker-dealer in Chile, to its client list. Advisors and clients of Nevasa will now have access to Insigneo’s global products, portfolio analysis, and additional offshore services.

MARITIME GIANT MIAMI HQ

International shipping company MSC Group paid $67 million for its new North American headquarters in Miami’s Overtown neighborhood. The new offices will accommodate 250 employees from its affiliates MSC Cruises, MSC Cargo, and Explora Journeys.

NEW FLIGHT ROUTES

Porter Airlines is increasing its footprint in South Florida due to high demand. The Canadian budget airline has announced plans

to commence daily roundtrip flights between Palm Beach International Airport and Toronto Pearson International Airport starting November 14. Meanwhile, Mexican low-cost carrier Viva Aerobus celebrated the airline’s inaugural flight from Miami International Airport to Monterrey and Merida, Mexico in July. Viva Aerobus now provides three-weekly flights MIA to Monterrey, and two weekly flights to Merida. Finally, Spirit Airlines plans to briefly relaunch two international flights from Fort Lauderdale-Hollywood International Airport. The Dania Beach-based airline will resume seasonal service to Lima, Peru, and Bucaramanga, Colombia, running nonstop flights from December 4 to January 8.

MORE COLD STORAGE

Developers have broken ground on a 107,632 sq. ft. cold storage warehouse in Miami’s Allapattah neighborhood. Designed by Amsterdam-based Arcadia, the $16 million facility near Miami International Airport leverages MIA’s cold storage capabilities. MIA is the leading import hub for perishables in the U.S. requiring refrigeration.

GLOBAL INSURANCE

Lloyd’s, a global insurance company based in London, announced it would open a new office in Miami this September. This strategic move aims to strengthen their business in Latin America and the Caribbean, while also supporting overall growth in the Americas.

PUBLIC TRANSPORTATION

Broward County is planning a $1.3 billion above-ground light rail system linking Fort Lauderdale-Hollywood International Airport to Port Everglades and the Broward Convention Center. They’re now gathering design proposals, with funding from county sales taxes, state funds, and federal grants. Completion is targeted for 2028-2029.

SHORE POWER AT PORTMIAMI

Miami-Dade County Mayor Daniella Levine Cava celebrated the launch of shore power at PortMiami last month. This technology allows cruise ships to cut emissions by plugging into landside electrical power while docked. PortMiami, in partnership with major cruise lines and Florida Power & Light Company, now offers shore power at five berths, a first for the U.S. eastern seaboard (see story pg. 22).

MIAMI CLIMATECH HUB

South Florida’s global climate tech hub is receiving $19.5 million from the Biden administration. The funding will support training and research to enhance coastal resilience against rising seas. The hub is among 12 regional tech organizations sharing $504 million

from the U.S. Department of Commerce’s Tech Hubs Program, part of the CHIPS and Science Act of 2022.

MILLIONS FOR AI

Hut 8, a Miami-based energy infrastructure provider and bitcoin miner, is expanding into AI after securing a $150 million investment from Coatue Management, founded by European billionaire Philippe Laffont. Hut 8 operates 10 Bitcoin mining and managed services sites in New York and Texas as well as nine data and power centers in Canada.

FORTRESS SELLS FACILITY

Global energy firm New Fortress Energy has announced that it will sell its liquefaction and storage facility in Miami to a U.S. infrastructure fund for an undisclosed amount. The sale is expected to close in the third quarter of 2024. The facility produces more than 150 tons of liquid nitrogen gas (LNG) daily, stores up to 1,000 cubic meters of LNG, and can transfer LNG by truck and rail.

MIA BOND REFINANCING

Miami-Dade County has announced plans to issue $923.5 million in municipal bonds to refinance debt related to capital improvements at Miami International Airport. Bondholders will receive repayment from revenues generated by the terminals, grounds, runways, and taxiways at Miami International Airport, along with three other general aviation airports.

ART BASEL SELECTS

Art Basel has announced the 2024 edition of its Miami fair, taking place Dec. 6-8 at the Miami Beach Convention Center. The fair will feature 283 galleries from 34 countries. Nearly two-thirds of the

exhibitors are from the Americas, showcasing talent from the U.S., Canada, Mexico, Brazil, Argentina, Colombia, Guatemala, Peru, and Uruguay.

SITE ACQUISITION

Fortune International Group has acquired the 46,373 sq. foot site in Miami’s Brickell District where it will build the 77-story Ora by Casa Tua. The site was bought from Miami-based Patagonian Investment Internacional LLC with a $36,080,000 pre-development loan from Amerant Bank. Groundbreaking is expected in 2025.

GLOBAL PARTNERSHIP

Miami-based Inswitch, a global leader in finance technology, has partnered with Salvadoran fintech n1co Technologies. Inswitch will issue and process VISA debit cards for n1co, enabling users to make secure payments both online and at physical locations, domestically, and internationally.

NEW CO-WORKING SPACE

In September, South American-based firm WorQ Coworking will open its inaugural U.S. location in Miami’s Panorama Tower. The new space marks WorQ’s expansion beyond its current locations in Quito, Guayaquil, Bogota, and Lima. WorQ serves a diverse clientele including global firms such as Uber Technologies, Motorola Solutions, Clorox, and PepsiCo. l

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Shifting Shipments

MIAMI, ONCE A FOOD SHIPPING HUB, IS NOW A NET IMPORTER FOR FRUITS AND VEGETABLES FROM THE AMERICAS

BY YOUSRA BENKIRANE

Afew decades ago, it was fruits, vegetables, and fish that went out, while medicines, medical products, and technological devices came in. Today, it’s the opposite. Miami’s exports have shifted toward high-value products, while imports predominantly consist of lower-value goods like produce.

Although Miami-Dade County still has abundant rural production, fresh fruit and vegetables grown in the area are mostly distributed locally or statewide. The heart of South Florida’s produce industry today revolves around trade with Latin America and the Caribbean. Miami’s ports act as a vital gateway for importing Latin American produce for distribution throughout the United States.

In 2023, the Miami Customs District exported $654M and imported $2.91B worth of fruit and vegetable products, with imports increasing 8.98% from the previous year. The top origin sources of these products were Guatemala ($515M), Peru ($494M), and Ecuador ($235M). Most of these products came from the region due to several factors, including proximity, seasonality, and logistics.

Geographical Proximity: Miami is geographically close to many countries in South America, Central America, and the Caribbean. This reduces transportation costs and time, making it more efficient to import fresh produce from these areas compared to more distant locations.

Climate Compatibility: Many countries in Latin America have climates conducive to growing a wide variety of fruits and vegetables year-round. This allows for a consistent and diverse supply of fresh produce that meets consumer demand.

Port Infrastructure: Miami has a well-developed logistics infrastructure capable of handling large volumes of perishable cargo. Miami International Airport (MIA) is the main point of entry for air perishables to the U.S. (accounting for approximately 70 percent of all U.S. perishable imports). PortMiami meanwhile has invested billions in infrastructure improvements, including the Deep Dredge Project to increase channel depths and having more USDA staff than any other port of entry in the nation.

MIAMI’S AGRICULTURE IMPORTS (Miami Customs District)

TOP AG PRODUCT SOURCE COUNTRIES (2023)

Guatemala ($515M)

Peru ($494M)

Ecuador

Source: U.S. Census Bureau and Observatory for Economic Complexity

Products like bananas, pineapples, mangos, papayas, citrus fruits, tomatoes, cucumbers, peppers, asparagus, and avocados are commonly imported through Miami’s seaports due to their ability to last longer. MIA tends to import a broader range of perishable goods, including fruits and vegetables, but also seafood, flowers, and other high value produce like berries and specialty fruits due to their perishable nature and the need for expedited transportation.

The top imported vegetable and fruit products into the Miami Customs District are coffee ($446M), melons ($228M), bananas ($190M), and legumes (beans, peanuts, lentils, etc.) ($136M), much of it from Guatemala except for coffee. Contrary to popular belief, most of Miami’s coffee is not imported from Colombia but from Switzerland, which processes and packages the beans (think Nescafe and Nespresso); raw beans have historically arrived in the U.S. through New York, San Francisco, and New Orleans. Once in Miami, ag products are loaded and trucked to warehouses in the city of Doral for distribution throughout the U.S. and Florida. Doral has attained global status as Greater Miami’s logistics hub thanks to its significant refrigeration capacity and proximity to MIA.

Overall, Miami’s shift from an exporter to an importer of fruits and vegetables underscores the city’s transformation from an agricultural to a high-tech hub. l

Towards a Better Partnership

Christofer Burger, Consul General of Germany in Miami, started his role in August 2023. Since then, he has collaborated on multiple trade missions, promoted direct investment, and worked to strengthen ties between Germany and Florida. Burger’s previous role was deputy spokesperson for the

How would you characterize the economic relationship between Germany and Miami?

To be perfectly honest, I think relations between Germany and Miami, so far, do not reflect our full potential. Germany is the fourth largest trading partner of the U.S., but only number eight to Florida. I think that has to do with the fact that German companies are very focused on manufacturing, which is a key industry here. The connection with Latin America and the importance of Miami as an international transportation hub are definitely two factors that make Miami very attractive. The huge market potential that Florida itself has, the purchasing power, the incredible growth dynamic, construction, and the pro-business environment are all things that make this an attractive place to be.

Describe the trade dynamic between Germany and Florida Germany’s strong suit is obviously our largest exports to Florida so far: cars, like Porsche, Volkswagen, BMW, etc. Traditionally, one sector where we’ve had very strong ties with Florida is aerospace. Companies like Airbus and Lufthansa Technik have a global maintenance hub here where they provide service to airlines in the Americas…. Many people do not know that many of the cruise ships stationed in Miami were built in Germany… Another area where we have strong connections with Florida is lasers and photonics, which is becoming even more relevant due to the many new applications in defense, communications, and medicine… We have 10 big German logistics companies with major hubs here, including DHL. Some, like Hellmann, are more specialized, serving German manufacturers in the United States and Mexico, and providing specialized logistics for the food industry.

What are the important trade trends with Florida and Miami? I think the trade statistics are interesting but also a little misleading.

Federal Foreign Office in Berlin. He also served as head of the political section at the German Embassy in Cairo and on the planning staff of the Federal Foreign Office. We spoke with Consul General Burger about the evolving economic partnership between Miami and Germany.

If you look at German exports to Florida, number one is cars, which is obvious. Then you have aircraft parts, which makes sense, but then there’s horses. I wasn’t aware of this before, but the winter equestrian capital of the world is in Wellington, Florida, and about 40,000 to 50,000 horses spend their winter there. Many of the best horses in the world are bred in Germany, and one of these horses will cost, on average, maybe half a million dollars. So, a few thousand of those horses will make a dent in your trade statistics. It’s not only Canadians wintering here but also German horses.

How does the Consulate help support and facilitate these connections?

We try to help companies that come here by introducing them to potential clients and connecting them with the social services they need. The German American Business Chamber in Miami is a great resource. We are also looking at ways to support German tech startups that want to set up operations here…. The German community here is very large, which tracks with the overall situation in the United States, where German Americans are the largest heritage group. According to the U.S. Census, 13 percent of Americans consider themselves to be German American. While they tend not to stand out – they usually don’t display German flags and aim to be good members of their local communities – this sometimes means we lose track of them quickly.

How has German perceptions of Miami changed?

Germans love Florida. There was a huge influx of German retirees to Florida in the 1980s and '90s. And to some degree, Florida has been a victim of its own success in that regard. Many Germans still see Florida as a paradise for retirees. However, people are now becoming more aware of Miami’s dynamism and future-oriented development. l

PHOTOS BY JORGE OVIEDO

Everything Falls Into Place When you Give Back.

At PNB, we envision a community where every individual, regardless of their circumstances, has both hope and opportunities. We are committed to being part of the nurturing ground where compassion meets action, fostering a Miami where everyone has the chance to thrive.

That dedication stems from a core belief that we are more than just an institution serving our community; we are a team that believes in building a brighter, more inclusive future. We proudly support charities dedicated to touching lives profoundly - be it providing a haven for the unhoused, offering a guiding hand to individuals with autism, or bringing a ray of light into the lives of Alzheimer’s patients and their families.

Together with organizations that share our vision, we strive to give back to the place that has given us so much, to be one link in a network of love that resonates with the vibrant spirit of Miami.

Think Outside the Blocks

Turn It On!

PORTMIAMI SHORE POWER GOES LIVE

BY YOUSRA BENKIRANE

Cruise ships are not exactly the most fuel-efficient means of transportation. They are, in fact, energy hungry behemoths that can devour the daily power equivalent of 10,000 households – and this is while docked in port. Even while berthed, cruise ships require electricity for lights, refrigeration, operating equipment, and other functions.

It was with great aplomb, therefore, that the Cruise Capital of the World – PortMiami – recently celebrated the inauguration of its new shore power capabilities. At a cost of $125 million, the port unveiled five oversized plug-in terminals, three of which can provide power at any given time to a cruise ship at dock.

Miami-Dade County Mayor Daniella Levine Cava, PortMiami Director Hydi Webb, and Congresswoman Frederica Wilson led the June ribbon-cutting ceremony, joined by federal officials and representatives from five major cruise lines.

“As mayor, shore power has been my dream and initiative. We embarked on this journey in 2021, thanks to an innovative partnership with our major cruise line partners and Florida Power & Light Company,” said Mayor Levine Cava, who has made it her goal to cut the county’s carbon emissions in half by 2030. “Shore power is a great example of progress in tourism and clean energy converging. Together, we are creating jobs, expanding our economy, and preparing to meet the dynamic needs of tomorrow.”

The PortMiami shore power system allows cruise ships to turn off their fuel-guzzling engines and plug into landside electrical power while docked, significantly reducing emissions and noise. By switch-

ing to shore power, emissions can be reduced by up to 98 percent.

This latest advance to sustainable infrastructure in Miami is the result of a partnership between Miami-Dade County, Carnival Corporation, MSC Cruises, Norwegian Cruise Line Holdings, Royal Caribbean Group, Virgin Voyages, and Florida Power & Light. The collaboration made PortMiami the first major cruise port on the U.S. eastern seaboard to offer shore power capability at five cruise berths. In the coming year, 21 cruise ships will be outfitted for shore power, with more than 350 vessel calls expected to plug into the system.

“As we continue to move forward with growing the Port, we do so in a smart and future-ready manner,” said Hydi Webb, PortMiami Director and CEO.

The launch of shore power at PortMiami is part of MiamiDade County’s broader mission to operate one of Florida’s most active seaports in a way that supports both economic development and environmental sustainability; part of the shore power’s appeal is to younger passengers concerned with the environmental impact of cruise ships. The port is now undertaking a $4.2 billion capital improvement program centered around NetZero efforts. Mayor Levine Cava emphasized the long-term benefits of the current initiative. “It’s the equivalent of taking 7,500 cars off the road,” she said.

PortMiami is among Miami-Dade County’s largest economic engines, contributing $61 billion annually to the local economy and supporting more than 340,000 jobs. For the new system to work, the port is providing up to 16 megawatts of power. The first cruise ship connected was Carnival’s Conquest, to be followed by Royal Caribbean International’s Icon of the Seas (the world’s largest cruise ship), Virgin Voyages’ Valiant Lady, Norwegian Cruise Line’s Joy, and MSC Cruises’ Magnifica. l

LEFT: PORTMIAMI DIRECTOR HYDI WEBB (L), CONGRESSWOMAN FREDERICA WILSON (C), AND MIAMI-DADE COUNTY MAYOR DANIELLA LEVINE CAVA (R) LED THE JUNE RIBBON-CUTTING CEREMONY.

ABOVE: THE POWER SHORE SYSTEM PLUGGED INTO A CRUISE SHIP

The Impact of eMerge

MIAMI’S PREMIERE TECH EVENT FOR THE AMERICAS SCORES WITH HIGH MARKS

BY J.P. FABER

Ten years ago, eMerge Americas was founded with a mission to help foster a thriving tech and entrepreneurial hub in Miami...

Ten years ago, Melissa Medina and her mega-entrepreneur father Manny Medina launched a conference and expo entitled eMerge Americas. The idea was to create an annual event where techie startups from across the hemisphere could mingle with venture capitalists and thereby accelerate the entire process of creating and funding new ideas.

That event, which passed quickly to the oversight and direction of Melissa Medina, CEO of eMerge – her father being busy creating billion-dollar companies like Cyxtera Technologies and Appgate Technologies – has become a fixture in the Miami tech ecosystem. Last year it attracted 20,000 attendees from more than 50 countries, up from 5,000 in 2014 – a gathering of innovators, executives, academics, and government leaders at the Miami Beach Convention Center.

“Ten years ago, eMerge Americas was founded with a mission to help foster a thriving tech and entrepreneurial hub in Miami,” says Melissa Medina. “Many people called us crazy [but] what occurred over the next decade went far beyond our wildest dreams for the Magic City.” Thanks in part to eMerge, Miami is now the number two city in the U.S. for tech job growth and ranked number six nationally as a startup ecosystem.

The impact and contribution of eMerge Americas has now been quantified through a study by the Washington Economics Group, an independent consultancy. Among its findings:

MELISSA MEDINA, ABOVE, CEO OF EMERGE

EMERGE AMERICAS HAS GENERATED MORE THAN 10,000 JOBS IN FLORIDA, 81 PERCENT OF WHICH ARE HIGH-WAGE

THE ECONOMIC IMPACT OF EMERGE AMERICAS ON THE STATE OF FLORIDA NOW EXCEEDS $2.6 BILLION

COMPANIES THAT HAVE BEEN PART OF THE EMERGE AMERICAS ACCELERATOR + SHOWCASE HAVE RAISED NEARLY $2 BILLION IN FUNDING

MORE THAN HALF OF THE STARTUPS FUNDED CONSIST OF MINORITY AND / OR UNDERREPRESENTED FOUNDERS

Melissa attributes some of eMerge Americas’ success to Miami’s pivotal location between the northern and southern hemispheres, linked by Miami International Airport, the nation’s top airport in terms of international travel. She also notes the fact that Florida is among the few states with no state income tax and no state-level property tax. Miami is also home to local populations from literally every country in the Americas, along with 1,100 multinational firms – and it has an economy driven by small businesses, with “an entrepreneurial spirit in its DNA,” she says.

Last year, eMerge pushed the edge of the entrepreneurial envelop by launching a Healthtech Innovation Hub in partnership with Jackson Health System and the University of Miami Health System. The idea, again, was to connect ideas with capital by linking startups with funders. “Every year we work on identifying emerging technology trends,” says Melissa. “The takeaways and themes we saw this year were AI, quantum technology and the intersection of technology and healthcare.”

According the to the Washington Economics Group report, “eMerge has become a year-round platform and achieved its mission of transforming the region and state into an international hub for technology scale-ups, drawing in a wealth of talent and capital to propel innovation and growth.” It pointed out that more than 1,000 investors co-mingled with more than 1,800 startups from around the world at this year’s event.

The report also noted that eMerge creates what it called “externality” benefits, which unfold when a catalyst organization like eMerge acts in harmony with the strategic objectives of regional and state leaders, such as Miami-Dade’s economic development agency The Beacon Council and the Florida Chamber’s Vision 2030. Such an alignment helps to foster innovation, attract a skilled workforce, increase capital investments, and accelerate corporate relocations – all music to the ears of Miami. l

The Miami Beach event covers the entire supply chain of the cruise industry...

CHIARA GIORGI, SEATRADE CRUISE’S GLOBAL BRAND AND EVENT DIRECTOR,

The Cruise Report

AT THE SEATRADE CONFERENCE, INDUSTRY PUNDITS PREDICT FUTURE TRENDS

BY KATELIN STECZ

For football fans, there’s the Super Bowl; for soccer lovers, the FIFA World Cup; and for film buffs, the Oscars. But for anyone in the cruise industry, it’s Seatrade Cruise Global in Miami Beach. For the last 29 years, shipbuilders, cruise industry executives, travel agencies, and government officials have convened at the Miami Beach Convention Center to network, do business, and discuss the current state of cruising. Attracting more than 10,000 attendees and 600+ exhibitors with over 120 countries represented, the four-day conference which took place in April is the largest gathering of cruise professionals in the world.

Owned by UK-based event organizer Informa, Seatrade Cruise started as a magazine 50 years ago and has since expanded globally. In addition to the Miami Beach show (its highest-grossing event), Seatrade Cruise hosts

cruise conferences in Málaga, Spain, and Manila, Philippines. Its now-digital magazine has more than 70,000 monthly readers and a social media following of about 38,000.

The Miami Beach event “covers the entire supply chain of the cruise industry,” says Seatrade Cruise’s global brand and event director, Chiara Giorgi. “It’s difficult to gauge the direct economic impact because there’s so much happening at the conference.”

On the first day of the conference, for example, Norwegian Cruise Line Ltd. announced an order of eight ships across its three brands with Italian shipbuilder Fincantieri, to be delivered from 2026 to 2036. The company also announced a $150 million plan to add a multi-ship pier at Great Stirrup Cay in the Bahamas, one of two private island locations it operates.

On day two, the State of the Global

The portion of cruisers aged under 40 is now 36 percent...

Cruise Industry keynote took place in convention center’s Grand Ball Room, sponsored by the Hong Kong Tourism Board (Hong Kong will see calls from more than a half dozen cruise lines toward the end of this year.) Executives from the biggest cruise companies and associations in the world –Norwegian Cruise Line Ltd., Royal Caribbean Group, MSC Group, Carnival Corporation & plc, and Cruise Line International Association (CLIA) – joined moderator and Seatrade Cruise News editor Anne Kalosh on the stage to discuss major trends and the future of the industry. Just as PortMiami saw record-breaking numbers of cruisers last year, executives from the big four lines all reported similar growth and projected the trend would continue next year.

“Our bookings for 2025 are better than they were last year at this point for ‘24,” said Josh Weinstein, president and CEO of Carnival Corporation & plc. “So, it’s not something that we view as pent-up demand… the concept of pent-up demand for cruising is gone. We have been cruising for three years [post-pandemic], right? It’s over. This is natural demand.” Given that Miami is the cruising capital of the world, PortMiami will see if the Big Four’s projections lead

KELLY CRAIGHEAD, PRESIDENT AND CEO OF CRUISE LINE INTERNATIONAL ASSOCIATION (CLIA)

You

have the experience gap and the value gap - we’re chasing to continue to close that gap on land-based vacations...

Our bookings for 2025 are better than they were last year at this point for ‘24...

to another recording-breaking year.

Jason Liberty, president and CEO of the Royal Caribbean Group, said demand is increasing because the cruise industry delivers better experiences for a better value compared to traditional resort-style land vacations. “You have the experience gap and the value gap…we’re chasing to continue to close that gap on land-based vacations, because the competition is around. How do we get more people to experience with us,”

Liberty said, gesturing to the other panelist, “rather than with other alternatives?”

Kelly Craighead, president and CEO of CLIA, said the demand for cruising is also growing because the industry is attracting younger passengers. “The portion of cruisers aged under 40 is now 36 percent. In fact, the most enthusiastic of potential first-time cruisers are the three youngest generations, Gen X, millennials, and Gen Z,” he said. And with younger generations showing more

interest in cruising, cruise lines are striving to meet their demands, many of which center around sustainability. Craighead cited a study CLIA had done with TravelZoo, a website that offers travelers discounts, “for those who have never taken a cruise," he said. "Those people who rated their intent as the highest likely to cruise, they also placed the highest level of importance on sustainability when deciding to book their holiday.”

Each of the Big Four discussed sustainability practices they have in place and the industry’s goal to attain net-zero carbon emissions. Liberty said the industry needs infrastructure on land to support this goal, in particular shore power generators so that ships do not burn fossil fuel while idling at dock. “There’s still a lot more opportunity for us to continue to involve people and the technology that support our ships, as well as the infrastructure on land with shore power,” he said. This is particularly relevant with PortMiami having just launched its $18 million shore power program. Now that it’s functional, PortMiami is able to power three cruise ships at a time, eliminating emissions released during docking (see story pg 22). l

ANNE KALOSH, LEFT, MODERATOR AND SEATRADE CRUISE NEWS EDITOR WITH JOSH WEINSTEIN, PRESIDENT AND CEO OF CARNIVAL CORPORATION & PLC.

JASON LIBERTY, RIGHT, PRESIDENT AND CEO OF THE ROYAL CARIBBEAN GROUP

FINCANTIERI, LEFT, IS A GLOBAL LEADER IN THE CONSTRUCTION OF CRUISE SHIPS

Not So Blue

HOW A MIAMI-MADE GIN ENDORSED BY A BRITISH CELEBRITY WENT HEMISPHERIC

BY KATELIN STECZ

If Simon Cowell, the judge on American Idol known for his brusque comments and scathing remarks, likes something, you know it has to be good. So, when the UK native endorsed a Miami-made gin – Harry Blu’s – it was all but given the golden ticket of celebrity endorsements.

In 2018, Miami native Harry Blustein first began experimenting with the idea of making a gin. The entrepreneur had spent years traveling around the world, developing a love and a palate for the aromatic spirit. He began his in-home gin operation with a small distilling machine he bought from eBay and some botanicals.

Over the next year, Blustein experimented with various distilling techniques and added different botanicals to get a gin that was perfect over ice. He was inspired by his mother, who drank sambuca as an aperitif after dinner; he took the elderberry component from sambuca and added it to his gin for a smooth, floral taste. “My motivation behind it was to create a craft spirit that was clean and really drinkable. A craft spirit should not require all that many additives or other ingredients to make a complete cocktail,” says Blustein. Harry Blu’s runs counter to industry-wide trends, he says, by using only ten “real” ingredients instead of artificial or “natural” flavorings.

Soon after embarking on his gin distillation journey, Blustein brought his “moonshine” as he called it to a “focus group.” For years Blustein and a group of local cyclists had taken an 80- to 90-mile bike ride every Saturday. Blustein secured a bottle of gin in his bike’s water bottle cage for his fellow cyclists to sample after the ride. Many of them became fans of Blustein’s gin, and encouraged him to go commercial. Today, a few of them are partners in Blustein’s enterprise.

In 2021, Blustein decided to expand into vodka with the same idea as the gin: creating a “clean, drinkable spirit with real ingredients.” He followed up in 2022 with a botanical vodka. Around the same time, Cowell was introduced to Harry Blu’s gin by a mutual friend and colleague. After trying it, the critical media mogul was impressed

This world-renowned judge saying that my stuff, my packaging, all the things that we put together is impressive... is just wow!

HARRY BLUSTEIN, A MIAMI NATIVE WHO DEVELOPED THE HARRY BLU’S MIAMI-MADE GIN, SHOWN ABOVE WITH SIMON COWELL, THE JUDGE ON AMERICAN IDOL (LEFT) WHO ENDORSED THE GIN AND BECAME A PARTNER.

and wanted to get involved. “It humbled me,” says Blustein. “This world-renowned judge saying that my stuff, my packaging, all the things that we put together is impressive – is just wow,” says Blustein.

Since Cowell officially signed on as a partner, Harry Blu’s has benefitted from his celebrity reputation. According to Blustein, sales are up 40 percent across all three Harry Blu’s spirits (he added a botanical vodka), and Blustein has gone hemispheric. In addition to the U.S., Harry Blu’s is now distributed in 26 countries throughout LATAM and the Caribbean.

Blustein says the brand, especially its gin, has been well received in El Salvador and Argentina. While Latin America is not traditionally a gin market, that is rapidly changing. Prior to the pandemic (2017 to 2021) Argentina’s taste for gin increased by 174 percent; in that same period gin consumption in Brazil increased nearly 10-fold, according to the International Wine and Spirit Research firm (IWSR.) These numbers bode well for Harry Blu’s expansion into the Americas. l

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China’s Two New Maritime Bridges to Peru

BY LELAND LAZARUS AND GARY GOLDFARB

Leland Lazarus, a former U.S. Foreign Service officer, is the associate director for national security at Florida International University’s Jack D. Gordon Institute for Public Policy.

Gary Goldfarb is Chief Strategy Officer at Interport Logistics, a Miami-based port logistics company with operations across Latin America.

The development of deep-sea ports by China further binds Peru and its economy to the Communist nation, with hidden risks.

In recent months, two port projects have thrust Peru-China relations into the business spotlight. The first is the port of Chancay, a $3.6 billion port 60 percent owned by Chinese state-owned enterprise Cosco. The second is a $405 million port of San Juan de Marcona, for which the Peruvian government has awarded the construction contract to Chinese company Jinzhao.

Although Peruvian and Chinese authorities have hailed the projects as a boon for both countries, they also bring potential economic and security risks to Peru and its neighbors, including the U.S. However, Peru can take concrete steps to mitigate those risks as it continues to deepen its partnership with China. Already, Peru’s port authority has announced it is trying to revoke Cosco’s exclusive use of the port of Chancay. Minerals have been the linchpin that binds Peru and China, especially copper. Since Chinese President Xi Jinping rolled out the Belt and Road Initiative in 2013, Peru has been either the second or third largest recipient of Chinese foreign direct investment in Latin America, due to Chinese acquisitions of Peru’s five copper mines. By 2014, China had already outstripped the U.S. as Peru’s largest trading partner.

But the Peru-China relationship extends beyond just copper. They have a Free Trade Agreement that includes agricultural and other products; China Three Gorges holds stakes in Peru’s Chaglla and San Gaban III dams; and China’s Southern Power Grid International is closing in on a deal that would give it a virtual monopoly over Peru’s electricity sector.

Meanwhile, the Chancay mega port, just north of Lima, will massively boost trade to China. It currently takes 35 days for Peruvian product-filled containers to make it to China, since they stop to transfer cargo to larger vessels at Mexico’s Manzanillo port or California’s Long Beach port. The Chancay port will be able to ship products – mostly copper – directly to China, shaving more than 10 days off the transit. The smaller $405 million port at San Juan de Marcona – scheduled for completion by

end of 2025 – is just south of Lima and will ship iron directly to China from the nearby Pampa de Pongo mine.

These projects serve Peru’s interest in boosting Pacific trade, especially as it hosts this year’s Asia-Pacific Economic Cooperation forum. China’s President Xi is expected to attend APEC in Peru this year and may inaugurate the Chancay port project while there. Exporters from neighboring South American countries like Argentina, Brazil and Ecuador will also have another place to ship their goods. The ports also allow China to bypass California’s port of Long Beach, further reducing its reliance on U.S.-based ports for its natural resources, opening up a key South Pacific trading route.

Despite their economic benefits, the Chancay and San Juan de Marcona ports could pose serious threats to Peruvian and regional security interests. The explosions needed to build the port and an access tunnel have damaged local housing, even collapsing a street in 2022. Activists from the town of Chancay have protested against potential damage to the area’s fragile environment. The coastal area around Chancay, a small coastal shelf met with high cliffs immediately following, will certainly be damaged by the extensive infrastructure development needed to create roads and utilities to serve the port.

Both Peruvian and U.S. policymakers should be concerned that the Chancay project is 60 percent owned by Chinese state-owned enterprise Cosco. The Chinese Communist Party appoints Cosco’s board chairman, party secretary, and general manager. This means the CCP can shape Cosco’s business decisions to support its own national interests. Of great concern is how certain Chinese SOE ports, which were

initially created for commercial purposes, are allegedly being altered to serve Chinese military purposes. Examples in Africa, the Middle East, and Southeast Asia suggest Chinese entities could one day do the same in Peru. Such future military use may not even be nefarious by nature; historically, large countries’ navies expand their reach to protect their maritime trade, and China may simply do the same as cross-Pacific trade increases with Peru and others.

Researchers like Isaac Kardon have explained that nearly 60 percent of China’s overseas port projects are located near major maritime chokepoints like the Strait of Hormuz and the Strait of Malacca. The Chinese navy and intelligence services could surveil and potentially deny U.S. naval and commercial ships transiting major bodies of water. The Chancay port could become one more global node for the PLA Navy to monitor adversary ship movements.

The megaports may also exacerbate Chinese illegal, unregulated, and unreported fishing in the region. Every year, nearly 600 Chinese fishing vessels fish illegally in and around Peru, Ecuador and Argentina. The town of Chancay is a key fishing village, and massive Chinese fishing trawlers may be able to dock directly at the port and deprive local fishermen of their livelihoods.

The Peru-China trade relationship will inevitably deepen in the following years, but there are steps the Peruvian government could take to ensure that the allure of foreign investment today doesn’t threaten the country’s national security in the future.

First, the Peruvian government should consider setting up an investment screening mechanism similar to the Committee on Foreign Investment in the U.S., or Cfius. Government agencies should also conduct

PORT OF CHACAY

PERU

PORT OF SAN JUAN DE MARCONA

Minerals have been the linchpin that binds Peru and China, especially copper...

PART OF CHINA'S BELT AND ROAD INITIATIVE IN 2013 IS TO INVEST IN PERU’S FIVE COPPER MINES. TOP PHOTO: ONE OF PERU'S MAJOR COPPER MINES.

due diligence on potential Chinese companies doing business in Peru, and limit those with a track record of directly serving Chinese Communist Party strategic objectives. For instance, the Biden administration recently announced an initiative to protect U.S. ports from alleged cyber espionage by Chinese-built cranes; Peru should consider doing the same.

When selecting Chinese companies to build key infrastructure projects, Peruvian authorities must also check their history of corruption, environmental damage, labor

violations, and undue delays elsewhere in the region and around the world.

Ultimately, Peruvian policymakers and citizens must ask themselves: to what extent should our key infrastructure be owned or operated by foreign state-owned enterprises? Whether it be Cosco’s majority stake in the Chancay megaport, or a potential deal granting another Chinese SOE virtual monopoly of Peru’s power grid, Peru is further increasing its economic dependency on China and making itself vulnerable to potential Chinese economic coercion in the future. l

BRAZIL

ECUADOR COLOMBIA

Upping the Stake in Miami

THE STATE DEPARTMENT’S MEDIA HUB FOR THE AMERICAS EXPANDS ITS ROLE

BY YOUSRA BENKIRANE

Miami has long been considered the ‘Capital of Latin America’ due to its strong ties to the region. Some 70 percent of the population is Hispanic, with more than half the city’s residents speaking Spanish, ultimately attracting Latin American banks, law firms, startups, consular offices, and now the Media Hub of the Americas.

With its administrative headquarters in Washington DC under the State Department, the Miami-based Media Hub of the Americas works with major Spanish and Portuguese-language media platforms to communicate updates in U.S. foreign policy to regional audiences. It is one of six global hubs which include the Africa Regional Media Hub, the Asia Pacific Media Hub, the Brussels Media Hub (Europe), the Dubai Regional Media Hub (Middle East, Arab Gulf States), and the London International Media Hub (Middle East, South Asia). Notably, the Miami office is the only hub located within the U.S.

“All the other hubs are part of a specific embassy in those countries, which is how it normally should be,” explains Kristina Rosales Kostrukova, director of the Media Hub of the Americas. “But in our case, because we have a Latin America focus and Miami has such a large diaspora, we also do a little bit on the domestic diaspora communication side – particularly in this administration, with domestic foreign policy as a focus, because they have a voice as well in Latin America.”

Funded by the State Department, the hub has been in Miami since 2009 but only recently found a permanent home in the Downtown federal building. “For some time, there was a discussion about us maybe operating out of Washington, DC. But that is just a difficult location to operate from if you need to speak to Spanish-speaking media. That’s the strategic positioning that we have here in Miami,” says Rosales.

The office now has 10 employees and holds press conferences at least twice a month on topics ranging from migration to the presidential inauguration in Guatemala, while actively communicating through social media. Since the hub represents the federal government, it can also speak on behalf of the Department of Homeland Security and the Department of Commerce on issues relevant to the region. “And at the same time, we can report up to Washington when we see strategic changes happening, either in Miami or across Latin America,” says Rosales.

The hub will encourage increased engagement from Washington and ambassadors for the region. This includes making stops in Miami to engage with the press and visiting the new office space. “Miami’s international affairs sector is still quite underdeveloped compared to most other major American cities, so having a state department presence here helps build out that international sector with higher level engagement with U.S. diplomats and department officials that can come down to Miami,” says Aaron Rosen, President of the World Affairs Council Miami.

Last Month, the World Affairs Council Miami hosted the

For some time, there was a discussion about us maybe operating out of Washington, DC. But that is just a difficult location to operate from if you need to speak to Spanish-speaking media...

hub’s Deputy Director Christopher Johnson (a foreign service officer) who spoke with students about careers in foreign service. The hub also recently welcomed the President of Peru who wanted to stop in Miami on his way to DC.

“People would argue and say, ‘This is a trade hub or a commercial hub, but it’s not a diplomatic hub, and it’s not going to be because that’s Washington.’ But I think now we’re starting to see a little bit of that shift with the sort of activities, events, and players in the city,” says Rosales. “Having this office presence is allowing us to strengthen the relationship between the federal government –the State Department – and the local government here in Miami, whether it’s the through the mayor’s office – through the International Trade Consortium – or through the consulates based here that represent Latin America and the Caribbean.” l

KRISTINA ROSALES KOSTRUKOVA, DIRECTOR OF THE MEDIA HUB OF THE AMERICAS

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A Trade Lift for Small Business

DAISY RAMOS-WINFIELD AND FLORIDA’S MUSCLE FOR SME EXPORTERS

BY J.P. FABER

When Vanessa and Mike Cantave launched their aircraft parts distribution company ten years ago, they clawed their way from $30,000 in sales that first year to $60,000 the next year. Then they met Daisy Ramos-Winfield, president and CEO of the Florida Export Finance Corporation, a not-for-profit created by the State of Florida to underwrite small and medium size exporters. After working with FEFC, sales at the Cantave’s Fort Lauderdale-based firm, 2Lyons Aerospace, jumped to $300,000 the following year then to $1.2 million the next.

“That first million was pivotal,” says Mike Cantave. “Because after that we were able to get additional financing. But without the FEFC there is no way we would have been able to get there… Daisy believed in us and took a chance.” This year the Cantave’s company is looking at $15 million to $20 million in sales.

Like other small exporters, especially new to market startups, 2Lyons Aerospace was stymied by limited access to trade finance. “Small businesses may not have the credit history, or the years in business, or they may be new to exporting,” explains Ramos-Winfield, and so are declined by conventional lenders. “The FEFC becomes an option for these companies. We are considered the lender of last resort because we are the lender of last resort.”

The FEFC was launched in 1993 by Florida statute, with a mission “to expand employment and income opportunities for residents” by increasing the exports of goods and services. Its primary function is to provide financial assistance to small businesses – those with less than 250 employees and worth less than $6 million – along with information and technical assistance.

The muscle of the FEFC is its ability to guarantee up to 90 percent of the loan an exporter needs, money which is repaid after the company receives payment from an overseas client. “The purpose is to provide a bridge loan for the exporter to be able to finance their purchase orders while they are growing,” says Ramos-Winfield. “We work with a network of banks and non-bank lenders.”

If no bank will step up, even with a 90 percent loan guarantee, FEFC can provide a direct loan. “Maybe the bank is not interested in the amount, or in the country, or in the profit margins, which might be too low. So, we come in as the lenders,” says Ramos-Winfield, looking at details that don’t fit the typical qualifications check list. “We look at the amount needed, the country, the industry, the course of repayment, and the expertise of the exporter,” she says. “Maybe they’ve been in business less than a year, with no credit history, but the executive has experience from an earlier career, or experience in the industry. We will work with items the banks just can’t.”

“We were exporting to emerging markets, where the credit ratings weren’t stellar,” says 2Lyons Aerospace president Vanessa Cantave, which dissuaded conventional lenders. But the FEFC relied on Mike Cantave’s years of experience as a pilot for various global airlines who would become clients for their aircraft parts. Now that

Small businesses may not have the credit history, or the years in business, or they may be new to exporting. The FEFC becomes an option for these companies...

DAISY RAMOS-WINFIELD, PRESIDENT AND CEO, FLORIDA EXPORT FINANCE CORPORATION

they are a larger company with a proven track record, 2Lyons can access traditional trade-finance loans.

Since its inception, the FEFC has worked with 250 to 300 companies a year, facilitating more than $2 billion in loans over the last 30 years. They have helped finance exports of medical equipment, household goods, candles, meat, auto parts, construction equipment, oils and lubricants, industrial gear and, of course, aviation parts. They have also financed contracts for engineering and legal services.

“There are a lot of ideas out there you wouldn’t believe,” says Ramos-Winfield. “There is one company trying to export nondairy desserts. We looked at the industry, and it turns out there may be a market for them in Eastern Europe, where vegan desserts are popular.” l

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Investing in Miami

AN INTERVIEW WITH THE NEW HEAD OF THE UBS FLORIDA INTERNATIONAL DIVISION

BY J.P. FABER

Like other wealth managers and investment banks, Swissbased UBS is aware of the growing importance of Miami as a global financial hub. Earlier this year, it ramped up its presence with new staff and by unifying its separate South Florida offices – plus its Uruguayan operations – into a single management unit. We spoke with the new International Market Executive for Florida, Catherine Lapadula, in her downtown Miami offices.

Why did UBS relocate you from New York to Miami?

You know, UBS has always been here in Miami. It’s always been a hub for us. But what we’ve decided to do is [create] a market executive for Miami. We had a series of branch managers prior. But now under my boss Rick González’ leadership [UBS International Division Director], we’ve decided to unite Miami. So, I’ve got Miami, Coral Gables, Uruguay, and I’ve got satellites in Aventura and Fort Lauderdale.

Why is Miami so attractive to UBS right now?

With the exodus from Silicon Valley, Miami’s quickly becoming a venture capital and emerging tech spot. In fact, Forbes named Miami over New York and Austin for emerging tech… We [also] segment our focus on the ultra-high net worth and high net worth individuals, and most of our clients love to come to Miami… most have a second home here. [And] because this is the place for growth if you’re going to be anywhere in the United States.

Why also manage Uruguay from here?

They call it the Switzerland of the south… Uruguay is unique in the fact that it has a history of working with financial advisors, the financial advisor-broker dealer model, versus the private banker model, which is more common in Latin America. Going to Uruguay allows us to access amazing talent we wouldn’t have access otherwise… they advise clients, not just in Uruguay, but in Argentina, and you’ve got Brazil to the north.

What are UBS’ competitive advantages?

We are the largest offshore wealth management in the world. International is something we’ve done from day one… [It requires] unique skill sets. You’ve got to be cognizant of the ever-changing regulatory environment and work closely with the regulators… A lot of our competitors do international embedded with their domestic. Here we have a whole [international] division. It’s our products, our lawyers, our rules of the road – everything taken through this international lens for our clients.

You have been 18 years with UBS and before that with Citigroup Private Bank. What leadership lessons have you learned?

In leadership, first of all, let me tell you one thing – “no” is a longer way to yes. If I stopped at the first “no” that was given me, I assure you I would not be here… Some great quotes on leadership come

We are the largest offshore wealth management in the world. International is something we’ve done from day one…

FOR

from Ted Lasso, if you’ve ever seen the show. Three of them that I love are: lead by example, humor breaks down barriers, and winning is an attitude... and do what you say you’re going to do, right? If I say I’m going to do it, then you’ll get an email from me saying, “as promised.”

What are your goals here?

I want to raise the profile of UBS... it’s about building interpersonal relationships in Miami, more so, I think, than New York… what we’re doing at UBS, which I think is new, is really trying to work with the community here, whether it’s the University of Miami, or the Beacon Council [or] Best Buddies, or Camilus house… [we want] two thirds of our employees to work in the community in the summer for a few hours of volunteering. We’re really trying to establish community roots as well as financial routes. l

CATHERINE LAPADULA, UBS INTERNATIONAL MARKET

EXECUTIVE

FLORIDA

PHOTO BY RODOLFO BENITEZ

An Underused Source of Investment

MIAMI-DADE COLLEGE CREATES A NEW CENTER FOR SMALL BUSINESS TO TAP INTO FEDERAL FUNDING

BY J.P. FABER

Miami-Dade College, the largest community college in the U.S. with 47,000+ students, has self-consciously positioned itself as a training ground for the next generation of 21st century workers. Among other things, they now offer the first degree in Florida in AI, along with an expanding curriculum that includes courses in cybersecurity, computer engineering, data analytics, and biotechnology.

The latest initiative by MDC is a Rapid Innovation Accelerator, announced in July at their downtown Artificial Intelligence Center. The idea of the center is to link the vast purchasing power of the U.S. military with innovative small business suppliers in the Miami tech eco-system. “The accelerator is really a place of connection, innovation and ideas,” Madeline Pumariega, president of MDC, told Global Miami. “How do we get founders connecting with one another and then connecting with resources at the Department of Defense? It is intended to make sure that we accelerate ideas and opportunities and get them to market – and get our founders the opportunity to do the business with the DOD.”

The program will be administered by Lab22c, a strategic advisory firm that focuses on ways to maximize opportunities for entrepreneurs in the Miami Tech eco-system.

“At the end of the day, we know that venture capital is great,” said Saif Ishoof, the founder and managing partner of Lab22c. “But how about non-diluted capital that actually comes from a customer that happens to be the best customer you could ever want, the U.S. government – a customer that’s not going anywhere, not going out of business, and a customer with whom you have an opportunity to play your role in supporting America’s warfighting mission.”

A key speaker at the launch was Farooq Mitha, director of DOD’s Office of Small Business Programs. Mitha noted that Miami-Dade County had 13,000 “advanced manufacturing companies” and a small-business start-up community with a value of $36 billion. “Since I started this job, I’ve been wanting to make it easier for small businesses to navigate the procurement process at DOD,” he said. “I wanted to make sure that a community like Miami, where we don’t have a strong presence of defense industrial [companies], was part of the solutions we need to tackle very, very important, complex global threats.”

Mitha said that Florida is already a top state for DOD spending on small businesses, absorbing about $28 billion a year in prime contracts, a number that grows to $50 billion if subcontracts are included. “We want to make sure that Miami is at the table, [to] help grow and expand the innovation ecosystem here.”

Also at the launch event were Earl Wyatt, the Executive Director of MoveAmerica, an NGO dedicated to strengthening the defense industrial base supply chain, and Gen. Laura J. Richardson, commander of the Miami-based U.S. Southern Command. Richardson, whose command includes Central and South America, was blunt in her commentary on the importance of tech innovation. “From my perspective, the stakes couldn’t be higher for

From my perspective, the stakes couldn’t be higher for team USA, because we find ourselves in a great power competition with economic challengers such as China, and enduring competitors like Russia...

GEN. LAURA J. RICHARDSON, COMMANDER OF THE MIAMI-BASED U.S. SOUTHERN COMMAND., SPEAKING AT THE LAUNCH OF THE RAPID INNOVATION ACCELERATOR PROGRAM

team USA, because we find ourselves in a great power competition with economic challengers such as China, and enduring competitors like Russia. The People’s Republic of China [is] stealing intellectual property, data, trade secrets, innovation, academic research, and agricultural research from Fortune 500 companies and startups alike,” she told an audience of community, business and academic leaders. “We must all move with a sense of urgency to secure our industrial base, fortify our global supply chains, and strengthen our connections between our private industry and the US government.” l

PHOTO BY RODOLFO BENITEZ

A New Way to Build

IN PARTNERSHIP WITH A TURKISH INVESTOR, RENCO BRINGS A NEW WAY TO BUILD TO THE US

BY KATELIN STECZ

For many, LEGOS bring back fond memories from childhood, of days spent snapping together the tiny building blocks to create houses, spaceships, or anything else you could imagine. Now, a Miami-based construction company is using the same principle, with a composite technology from Turkey, to build real houses and apartment complexes.

Just like the LEGO system, RENCO USA uses molded blocks that fit together – except to create full-scale structures that can withstand a category 5 hurricane. With nothing more than its blocks, a glue gun, a mallet, and a crew of 11 people, the company was able to build a 96-unit apartment complex in Palm Springs, Florida, in just two months. Finished at the end of last year, RENCO USA’s first apartment building signals the company’s readiness to expand after its extensive testing period.

Founded in 2012 by Thomas Murphy Jr. (the founder of Coastal Construction) and Engin Yesil, a Turkish investor, RENCO USA has undergone more than 400 tests over twelve years for U.S. building approval. “RENCO is the fourth way to build in the world,” says RENCO USA’s managing director (and Thomas’ son) Patrick Murphy. “If you’re looking at the developed world, you have metal, you have concrete, and you have wood. Those are the three structural systems that you can build with, but now RENCO is the fourth-ever approved by the International Building Council for the US.” Short for renewable composite, RENCO’s blocks are made of repurposed glass fibers, resin, and stone.

What we offer is a superior way to build the structure of the building. And you can finish it any way you want, in marble, granite, whatever...

PATRICK MURPHY, CO-FOUNDER OF RENCO USA, A MANUFACTURER OF INTERLOCKING BUILDING BLOCKS MADE FROM REPURPOSED MATERIALS

While RENCO USA was founded in 2012, its materials had been used by RENCO Global in Turkey since the previous year. The material was created to help the country rebuild faster after earthquakes, and it’s now used in Iraq, Syria, and other Middle East countries. RENCO USA has been importing its materials from the original factory in Manisa, Turkey, but it will soon open a factory in Palm Beach County capable of producing enough block to build 6,000 apartment units per year.

RENCO’s blocks are both less expensive than traditional materials and greener. According to the Athena Sustainable Materials Institute, a non-profit that researches the carbon footprint of construction, RENCO materials contain 82 percent less embodied carbon than structural steel and 62 percent less embodied carbon than reinforced concrete. The blocks are also lighter than their concrete counterparts, thus requiring less energy and fewer vehicles to transport. Murphy says that for every truckload of RENCO’s composite materials, it takes four trucks to deliver the same quantity of concrete block.

And because RENCO is lighter and about 20 percent cheaper than wood or concrete options, it’s more cost-efficient in places where labor is expensive. “With RENCO, we’ve found the higher the labor costs, the more money you save. In places like New York, California, and Florida, where development is really expensive, you end up saving more,” says Murphy.

Murphy adds that with RENCO, builders can also tap into the unskilled labor force; training workers to use RENCO materials takes only a few hours. “What we offer is a superior way to build the structure of the building. And you can finish it any way you want, in marble, granite, whatever,” says Murphy. With the Palm Beach factory soon to open, Murphy expects the company – already valued at over $300M – to expand rapidly in the coming year. l

Keep Those Rigs Rolling

MIAMI-BASED CARGOBOT OFFERS HIGH-TECH SOLUTIONS TO THE TRUCKING INDUSTRY

BY JOSEPH A. MANN JR.

Freight shipments carried by truck are a vital part of any logistics systems, but the industry has been slow to apply new technology to its complex operations – using tens of thousands of trailer trucks to move cargo to and from ports to warehouses, and from manufacturers to mid-markets and end users.

Now comes tech company Miami-based Cargobot Inc., which has developed a digital platform that provides freight shippers and trucking companies (carriers) with new visibility, transparency, lower costs, and efficiency for millions of tons of cargo in the U.S., Canada, and Mexico.

By downloading its free app, Cargobot clients can take advantage of a suite of digital options that directly link shippers to a list of potential carriers (thus eliminating brokers), provide online bidding, GPS tracking for each load, incident reporting, and online generation and storage of all invoices and other related paperwork, plus other services. Shippers can list full or partial truckloads on the Cargobot app and carriers can use the app to make bids. The company also offers Cargobot SaaS, a program to help clients build their own freight networks and expand their businesses.

“Before setting up Cargobot, we studied the freight market and found that it suffered from inefficiency, a lack of communication and fragmented technology,” says Fernando Correa, Cargobot’s CEO and co-founder, who has decades of experience in supply chains and freight transportation. “We saw a lot of inefficiencies and we began to use technology to simplify the entire process and make it easier for shippers and carriers to link up,” says Correa, who is originally from Spain and earned a degree in business administration from the University of Madrid.

Cargobot currently works with over 500 shipping clients, more than 20,000 carrier companies, and over 30,000 drivers. Clients include shippers, truckers, and fleet companies; the company makes its money from commissions on loads moved using the Cargobot app.

“It was incredibly easy to use their system,” says Luis M. DeAvila,

who runs logistics for Texas Tissue Converting LLC in Conroe, Texas. The company produces a variety of products, including paper towels, bathroom tissue, and hand towels, and depends heavily on efficient delivery of raw materials and pick-up of finished products for its customers. “We work with them most of the time because of the quality of their service – the flow of communications and the ability to keep pick-up and delivery appointments,” says DeAvila. “They saved us a substantial amount of money…”

Essentially a digital freight-matching company, Cargobot was founded in Miami in 2016, using capital pooled by its three partners. The two other co-founders are Catalina Machado, who has extensive experience in freight brokerage, and CIO Gustavo Medina, a tech entrepreneur.

Cargobot is addressing a massive market that is essential for the economy. Freight carried across the country by tractor-trailer (or semis) represented about 73 percent of all freight movements by weight. In 2022, more than 750,000 carriers moved nearly 11.5 billion tons of freight and generated more than $940 billion in freight revenues, according to the American Trucking Association. About 96 percent of carrier fleets are small businesses, with 10 or fewer trucks. Since its founding, Cargobot has grown from two employees to more than 70 in the U.S, Colombia, and Mexico. Cargobot recently opened an office in Spain to offer its services in Europe. The company declined to provide figures on its revenues. l

FERNANDO CORREA, CARGOBOT CEO AND CO-FOUNDER, USED TECHNOLOGY TO ALLOW SHIPPERS AND CARRIERS TO WORK TOGETHER MORE EFFICIENTLY

Celebrity Cache

GLOBAL “STARCHITECTS” ARE UPPING THE DESIGN GAME IN MAMI

BY KATELIN STECZ

There are celebrity chefs, celebrity tattoo artists, and even celebrity dog trainers, so it shouldn’t surprise that there are celebrity architects. Just like other professionals who have gained enough celebrity recognition to power a reality TV show – think chef Gordon Ramsay or dog trainer Cesar Millan – “starchitects” have become a valuable asset in the local architecture industry. If you’re planning a large project, there’s no better way to make a statement and gain publicity than to hire a “starchitect.”

“The thing with ‘starchitects,’" says Igor Reyes, principal at Nichols Architects in Coral Gables, “is that they’re always in the magazines. Whatever they’re doing is cutting-edge, and it’s going to get publicity. Zaha Hadid, Bjarke Ingels, Cesar Pelli, Herzog & de Meuron, all these guys, they’re super-published [and] they all have buildings in Miami.”

According to Reyes, starchitect-led

projects are growing in popularity in Miami. He says they’ve increased with the influx of New Yorkers who have migrated to South Florida within the last four years. But how do these incoming starchitects affect local architecture firms?

One might think that starchitects traveling from all over the world would put local firms out of business, or at least take away some of their work. But it’s the opposite. When a starchitect is signed onto a project in Miami, they often hire local firms as the Architects of Record.

For instance, Nichols Architects has been doing business in Miami since 1967. The firm knows the ins and outs of South Florida’s construction bureaucracy and its stringent building codes, so it’s a clear pick for many starchitect-led projects. Being the architect of record means that Nichols’s name is on the building permit. They’re responsible for aiding starchitects

THE GROVE AT GRAND BAY WITH ITS TWO TWISTING TOWERS WAS DESIGNED BY THE DANISH 'STAR' ARCHITECT BJARKE INGELS (BELOW). IT WAS CONSTRUCTED IN CONSULTATION WITH NICHOLS ARCHITECTS.

in the design process and working with the construction team, making sure the building adheres to local codes. “Hopefully, we get in there before they’re done with the design,” says Reyes. “We’re not really guiding them, but more consulting. We’re saying, ‘No, that’s not going to work [or yes] that’s going to work.’”

Construction codes in South Florida are largely concerned with hurricane resistance. Buildings in hurricane zones must have structural reinforcements like reinforced concrete, hurricane ties, or roofto-wall connections. In wind-borne debris zones, buildings must use impact-resistant windows and doors. A building’s design must withstand certain wind speeds, and in flood-prone areas, elevation requirements must be considered.

As of now, Nichols Architects has been hired as the architects of record for several global starchitects. There is Danish architect Bjarke Ingels and his Grove at Grand Bay

The thing with ‘starchitects, is that they’re always in the magazines. Whatever they’re doing is cutting-edge, and it’s going to get publicity. Zaha Hadid, Bjarke Ingels, Cesar Pelli, Herzog & de Meuron, all these guys, they’re super-published. They all have buildings in Miami.

IGOR REYES, ABOVE PRINCIPAL AT MIAMI'S NICHOLS ARCHITECTS

ABOVE RIGHT: THE GOODTIME HOTEL IN SOUTH BEACH WAS DESIGNED BY ARCHITECT MORRIS ADJMI WORKING WITH NICHOLS ARCHITECTS

luxury residential development. And there is Morris Adjmi for his Goodtime Hotel in South Beach; Adjmi was the partner of Italian architect Aldo Rossi, until the latter passed in 1997 and New Orleans native Adjmi went solo. Finally, there is Pelli Clarke & Partner’s West Palm Point office tower. Founding partner and Argentine native César Pelli, who passed in 2019, is renowned for designing some of the world’s tallest buildings, like the Petronas Towers in Kuala Lumpur.

Overlooking Biscayne Bay, the Grove at Grand Bay’s twisting twin towers allow residents to have unparalleled views. The project’s main challenge was its most attractive feature: the twisting of its towers. This kind of struc-

ture is vulnerable to hurricane conditions, so it was necessary to have a local firm like Nichols Architects consult on the design.

In the case of the Goodtime Hotel –the candy-colored Art Deco boutique hotel born out of Pharrell Williams and David Grutman’s partnership – the starchitect Morris Adjmi and his firm worked with Nichols Architects to help navigate Miami’s structural code in flood-prone South Beach. “We worked with them from concept through to completion of construction,” says Ian Mills, executive director at Morris Adjmi Architects. “They provided local expertise on zoning interpretations, building codes, permitting, and construction to make the project a success.”

Similarly, Kristin Hawkins, partner at Pelli Clarke & Partners, says that Nichols’s collaboration on the West Palm Point Tower was necessary to overcome code challenges. “Nichols provided excellent technical and design support during the early design phases. As we’ve moved into the construction documents phase, they’ve been stalwart,” says Hawkins.

Although Nichols Architects does consulting work for starchitects, it’s also a force in its own right. Some notable designs by Nichols are Michael Jordan’s private golf clubhouse, the award-winning Arlo Wynwood Hotel, the Miami World Tower, and the upcoming Waldorf Astoria Residences in Pompano Beach. Nonetheless, Nichols Architects benefits from starchitects’ presence beyond the consulting work. The added publicity of a starchitect-led project can attract more development and legitimize local firms.

Since the starchitect boom, Reyes says Miami’s design reputation has risen, and having an office here now offers distinct advantages. “Miami has become such a focus of the starchitects to come in and build here, the level of design has taken off,” says Reyes. “Now, just being from Miami and having an office here gives you credit.” l

German Investment & Trade

WHILE THE STATE OF FLORIDA ENJOYS MOST OF THE TRADE AND INVESTMENT WITH GERMANY, MIAMI IS A GROWING HUB FOR HIGH-TECH AND STARTUPS

BY YOUSRA BENKIRANE

The German influence in South Florida can be seen everywhere, albeit invisible to most residents. Major brands like Aldi, Trader Joe’s, Porsche, Hugo Boss, and T-Mobile are all German companies.

But the German presence goes well beyond these well-known names, permeating sophisticated industries such as aviation and biotechnology. Take the Max Planck Florida Institute for Neuroscience (MPFI), established in 2009 in Palm Beach County as North America’s first and only Max Planck Institute. This initiative was part of then-Gov. Jeb Bush’s vision to transform the economy from being tourism dependent by

creating a life sciences cluster.

The Max Planck Institute’s facility in Jupiter, which hosts nine labs focusing on various aspects of brain science, collaborates closely with academic institutions like the University of Florida in the state’s center and Florida Atlantic University in Palm Beach County. “Collaboration is really the backbone of science, and just being able to have these international relationships opens up a lot of potential. Having relationships with Germany has been advantageous to us, it just really gives us the top technology and the top talent,” says Katie Edwards, Associate Vice President of Public Engagement for MPFI.

Having relationships with Germany has been advantageous to us, it just really gives us the top technology and the top talent...

KATIE EDWARDS (BELOW), ASSOCIATE VICE PRESIDENT OF PUBLIC ENGAGEMENT FOR MAX PLANCK INSTITUTE (MPFI).

LEFT: THE MAX PLANCK INSTITUTE FACILITY IN JUPITER, WHICH HOSTS NINE LABORATORIES

Edwards notes South Florida’s potential as a growth hub, compared to other well-established – and saturated – U.S. markets in Boston and California. “The economic conditions for moving to South Florida were very favorable, and the cost of living, even though it’s very high compared to the rest of the U.S., is still lower than Boston and California where major biotech hubs are,” says Edwards. “And you can’t beat the weather – it’s a beautiful place to live, which is a great recruiting tactic.”

Another German high-tech facility in Miami Customs District (i.e. South Florida) is PETNET Solutions Inc., a

ABOVE: RESEARCH ASSISTANT AT THE MAX PLANCK INSTITUTE’S FACILITY

RIGHT: RESEARCH LABORATORY AT PETNET SOLUTIONS IN SOUTH FLORIDA

subsidiary of Siemens Healthineers and the leading producer of radiopharmaceuticals for PET scans in the United States. PETNET South Florida was opened in 2022 in Broward County’s Dania Beach, a 10,995-square-foot facility that is not only the largest among PETNET’s 43 locations but also boasts the highest production capacity. As one of three PETNET Solutions sites in Florida (alongside Jacksonville and Tampa), it manufactures drugs injected into patients for PET scans used in diagnosing cancers like breast and prostate cancer, as well as neurological disorders.

“South Florida is a function of data technology and IP that’s coming into the industry,” says Joshua Nutting, chief operating officer of PETNET Solutions Inc. “If you think about a hub and spoke model, the hub is the technology creation, and the spoke is South Florida – it’s the distribution arm of the technology that’s being created.”

German companies are also making strides in other areas of Miami’s economy, establishing footholds in diverse sectors. German-based SAP, a multinational software giant, operates its international branch in Miami. Airbus and Porsche have established their Latin American headquarters in the city, leveraging its global connectivity. The aviation and aerospace industry between

both regions has been strong for decades, with the presence of German companies like DHL Express which also has its Latin American HQ in Broward, and Germany’s national carrier Lufthansa’s aircraft maintenance, repair, and overhaul (MRO) facility near Miami International Airport (MIA).

In the maritime sector, German-built cruise ships regularly dock at Miami’s ports, with German cruise line Sea Cloud Cruises announcing plans to establish an office in Fort Lauderdale. Technology startups such as Lilium and Volocopter are also making waves, pioneering advances in urban air mobility. “German companies love Miami

If you think about a hub and spoke model, the hub is the technology creation, and the spoke is South Florida...

JOSHUA NUTTING, SHOWN TOP, CHIEF OPERATING OFFICER OF PETNET SOLUTIONS INC

as a hub for their global operations,” says the Consul General of Germany in Miami Christofer Burger.

According to a report by the Miami Association of Realtors, Germany was the top source of global web searches for South Florida real estate last fall – constituting 9.3% of all inquiries for Miami real estate, surpassing Colombia. “Miami is Germany’s new Mallorca, Spain,” said Alexandra C. Peters, global real estate advisor for One Sotheby’s International Realty. “Now you’ve got direct flights and they’re [Germans] catching on to the rapid development of Miami.”

With three direct flights between MIA and Germany, more wealthy Germans are opting to make Miami their new home. “I have a couple of clients now that are working on getting their investor visa. So, they’re opening businesses and bringing their money here,” says Peters. The ‘investor visa’ or EB-5 visa program grants permanent residency in the U.S. to foreign investors who make a substantial investment in a U.S. business that creates jobs. “There are a lot of very wealthy people that are happy to put up $800,000 if they can live here and bring their whole family,” says Peters.

According to online databases of

foreign-owned affiliates in Florida, some 90 German companies are operating more than 250 branch locations in Florida, many of them in South Florida. Additionally, recent statistics from the U.S. Bureau of Economic Analysis show Germany is the 3rd largest foreign direct investor in Florida by employment, with German-owned affiliates accounting for more than 37,300 jobs. Germany is also the #1 EU investor in Florida.

THE FLOW OF TRADE

In terms of trade, the majority of last year’s $6.4 billion in bilateral merchandise moving between Florida and Germany was outside of South Florida, largely in the form of German cars through the Port of Jacksonville. Indeed, Germany was the state’s No. 1 trade partner in the EU in 2023, and 8th largest partner overall. For the Miami Customs District, bilateral trade totaled $2.94 billion, increasing 35.4 percent from 2022 and making it the 14th largest trade partner overall. The bulk of Germany’s imports from Miami last year were high-tech products made in Florida, including aircraft engines and parts ($198M). Other significant exports to Germany included electronic control boards ($89.8M) and

Now you’ve got direct flights and they’re [Germans] catching on to the rapid development of Miami...

ALEXANDRA

C. PETERS, GLOBAL REAL ESTATE

ADVISOR FOR ONE SOTHEBY’S INTERNATIONAL REALTY

valves for pipes and tanks ($43.5M).

On the import side, the Miami District imported goods worth $1.96 billion from Germany with gas turbines ($156M) as the top category. Other leading imported goods include horses ($126M) and paintings ($62.9M).

Beyond the rise of trade, there are untapped potentials for deeper economic integration between Germany and Miami. “New tech startups who want to enter the U.S. and the Latin American market see Miami as the perfect launchpad for this,” says Consul General Burger. “This is why we are optimistic about the newly announced climate-ready tech hub, especially given the substantial investments by German

New tech startups who want to enter the U.S. and the Latin American market see Miami as the perfect launchpad. This is why we are optimistic about the newly announced climateready tech hub...

CHRISTOFER

BURGER,

ABOVE,

CONSUL GENERAL OF

GERMANY

IN MIAMI ON THE ECONOMIC INTEGRATION

BETWEEN GERMANY AND MIAMI

companies in climate technologies. There’s significant untapped potential, and we see momentum building in that direction.”

Miami-Dade’s ClimateReady Tech Hub is one of 31 Tech Hubs designated by the Department of Commerce’s Economic Development Administration (EDA) in October 2023. Miami’s tech hub will collaborate with public, private, academic, and philanthropic partners to advance climate-resilient technology in South Florida, and with this, industry leaders are expecting more German climatech companies to look to Miami.

“South Florida’s infrastructure is an important starting point when talking about climate resilience. German startups have a lot of interest in climate technology and are excelling because of their innovative nature. I think South Florida will be a critical market for these companies to really

TRADE BETWEEN MIAMI AND GERMANY

MIAMI CUSTOMS DISTRICT EXPORTS TO GERMANY

2023: $944M (UP 19.4%)

2022: $791M (UP 17.7%)

2021: $671M (UP 29.3%)

2020: $519M

TOP 2023 EXPORTS

AIRCRAFT PARTS $198M

ELECTRIC CIRCUIT BOARDS $89.9M

VALVES $43.5M

GAS TURBINES $43.4M

MIAMI CUSTOMS DISTRICT IMPORTS FROM GERMANY

2023: $1.96B (UP 16%)

2022: $1.69B (UP 25%)

2021: $1.35B (UP 13.6%)

2020: $1.19B

TOP 2023 IMPORTS

GAS TURBINES $156M

HORSES $126M PAINTINGS $62.9M ORTHOPEDIC APPLIANCES $43.2M

Source: United States Census Bureau USA Trade® Online

keep growing,” says Christain Jorg, COO of Americas Start2 Group. Start2Group is a business consultancy firm specializing in helping European companies expand into the American market.

Driven by the city’s vulnerability to climate change and supported by a dynamic entrepreneurial ecosystem, these ventures are working on a range of technologies, including renewable energy, water conservation, and resilient infrastructure. “The whole world looks to Miami as ground zero of the climate crisis, not only for the first indications of what’s to come but also as a place that can provide solutions,” says Consul General Burger. “And German companies are at the forefront of research and development for this. That sector will really bring a whole new dimension to the South Florida/ Germany relationship.” l

PHOTO BY JORGE OVIEDO

The Taiwanese Model

WITH MIAMI AS A CRITICAL LINK, LATIN AMERICAN NATIONS LOOK TO TAIWAN AS THE MODEL FOR MODERNIZATION

BY YOUSRA BENKIRANE

Held at the Colonnade Hotel in Miami’s affluent Coral Gables neighborhood last month, the forum, “Prospects for Greater Economic and Cultural Engagements: Latin America—USA—Asia-Pacific Region,” brought together former Latin American presidents, Taiwanese and Japanese officials, and industry experts to discuss the Asia-Pacific’s role in fostering global economic integration. In particular, emphasis was placed on Taiwan’s potential contributions to Latin America, both as an example and as a partner. Latin America has traditionally relied on agriculture and raw material exports to power its economies, with growing investments in mining operations there by mainland China. But, as the conference made clear, Latin America needs to be more than just a supplier of metals like copper and lithium. Consequently, it is now exploring avenues to diversify and modernize its economies, and speakers pointed out that Latin American countries can adopt strategies similar to Taiwan’s remarkable transformation over the past few decades from an agrarian economy to a high-tech powerhouse.

“I do not think people understand the necessity and dependence of Taiwanese products and companies. Everybody knows about Apple, Amazon, Facebook, and Tesla,

TAIPEI 101, FORMERLY KNOWN AS THE TAIPEI WORLD FINANCIAL CENTER

but not many know about Foxconn and TSMC, two companies from Taiwan, that the world would not work without,” says former President of Bolivia Jorge Fernando Quiroga at the Latin American and Caribbean Presidential Mission’s forum.

UNDERSTANDING TAIWAN’S SOFT POWERS

To understand the potential of Latin America, one need only look at how Taiwan’s semiconductor manufacturing capabilities have given it significant soft economic power, overshadowing the island nation’s geopolitical tensions with neighboring Communist China.

If you drive an hour south of Taiwan’s capital city of Taipei, you’ll find yourself at the sprawling 1,400-hectare Hsinchu Science Park, adorned with massive buildings displaying the logos of some of the world’s leading chip manufacturers. One includes the world’s most valuable chip company, Taiwan Semiconductor Manufacturing Co (TSMC), one of about 500 tech firms that have established their presence in Taiwan’s Silicon Valley.

Semiconductors are essential components in modern electronics, used to power everything from smartphones and computers

to cars, medical devices, and microwaves. With a 68 percent market share, Taiwan is a global leader in the semiconductor industry, accounting for 92 percent of the world’s most advanced chip manufacturing capacity. TSMC alone produces nearly 90 percent of the world’s most advanced chips. They’re the firm behind all of Apple’s custom chips, also supplying CPUs (central processing unit) and

I do not think people understand the necessity and dependence of Taiwanese products and companies.

FORMER

PRESIDENT OF BOLIVIA JORGE FERNANDO QUIROGA SPEAKING AT THE LATIN AMERICAN AND CARIBBEAN PRESIDENTIAL MISSION’S FORUM

BELOW: THE TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY (TSMC)

GPUs (graphics processing unit) for Apple, Nvidia, Qualcomm, and more. “Even U.S. firms like Nvidia are visiting Taiwan to learn from the semiconductor masters. In a recent presentation on June 3rd, Nvidia CEO Jensen Huang thanked Taiwan for the partnership, stating, ‘Taiwan and our partnership have created the world’s AI infrastructure,’” says Director General Charles Chou of the Taipei Economic and Cultural Office in Miami. As a significant driver of Taiwan’s economy, semiconductors contribute approximately 15 percent of the country’s $770 billion GDP and employ over 70,000 people. What drives the industry isn’t in the tech itself, but in the people behind it. A perfect example is Stanford-educated Miin Wu, who began his career in California’s Silicon Valley. Like many, Taiwanese talent usually leaves home for the U.S. to work, creating a ‘brain drain.’ Wu instead wanted the brain power back in Taiwan. So he convinced 28 Taiwanese engineers to participate in a “reverse brain-drain” raising enough venture capital

to return to Taiwan and establish Macronix International Co., Ltd. to manufacture high-end computer chips. Today, Macronix is worth almost $2 billion and supplies chips for Nintendo gaming consuls, e-cars, and Nike’s smart fit devices.

Taiwan is thriving with similar hightech ventures, closely resembling a Pacific counterpart to Silicon Valley. This contrasts sharply with countries like Japan and Korea, whose late 20th-century economic booms were driven by large-scale manufacturing. Instead of producing a wide range of products, Taiwanese firms typically specialize in one or two valued-added high-tech areas, such as computer technology, and excel at them.

Macronix also produces semiconductor chips used in drones that both Russia and Ukraine have adopted in their conflict. Wu says he is uninterested in the political implications and would sell these products to China if it were allowed, something that trade restrictions now prevent. Previously, Macronix supplied chips to the Chinese telecommunications giant Huawei.

Macronix isn’t the largest semiconductor manufacturer but stands out for its innovation and advanced research and development capabilities. Its influence on the industry stems from a pivotal manufacturing innovation. When Macronix was founded, Japanese companies dominated the market with their disciplined and experienced operations. To gain a competitive advantage, Wu computer-

ized all manufacturing processes, an innovative move at the time. This allowed Macronix to collect data on how minor changes in semiconductor geometry could impact performance. Such cutting-edge techniques are a significant factor in Taiwan’s leading position in the semiconductor industry today.

THE LATIN LINK

The lessons of Taiwan’s prowess in hightech have not been entirely lost on Latin

As long as we can produce world-class technology, we can survive and continue to contribute to the status quo in Taiwan.

MIIN WU,

FOUNDER OF MACRONIX INTERNATIONAL CO., LTD. MANUFACTURING COMPUTER CHIPS IN TAIWAN.

BELOW: TAIWAN LEADS THE WORLD IN MANUFACTURING SEMICONDUCTORS

America. Mexico, for example, has been increasingly involved in electronics manufacturing, contributing to the production of goods such as televisions and smartphones. In the current context, however, it is the demand for semiconductors that has surged globally, driven by the proliferation of technologies like 5G, artificial intelligence, and electric vehicles. Latin American nations, by partnering with Taiwan, can capitalize on this trend, and Taiwan’s Industrial Technology Research Institute (ITRI) has been working with several Latin American countries to transfer technology and provide training. Brazil and neighboring Paraguay in particular have shown interest in developing such a semiconductor industry.

In 2017, Paraguay’s former Minister of Industry and Commerce, Gustavo Leite, visited the Taiwan headquarters of Foxconn, one of the world’s leading contract manufacturers known for producing products like Apple’s smartphones and electric vehicles. “I told them ‘We want to manufacture and assemble iPhones in Paraguay’. They looked at me and said, ‘How many engineers speak

Cultural Engagement

FOR THOSE WHO WISH TO DO BUSINESS WITH TAIWAN, A VISIT IS AN EYE-OPENER

Beyond its reputation for producing world-class entrepreneurs, cutting-edge technology, and navigating complex geopolitical issues, Taiwan is a unique travel destination. Its capital city of Taipei is a hub of activity, offering a mix of cutting-edge modernity and deep-rooted traditions. The iconic Taipei 101, once the tallest building in the world, is a marvel of modern engineering and design. Just a short distance away is the bustling Shilin Night Market, where visitors can indulge in street foods like stinky tofu, oyster omelets, and beloved bubble tea, which originated in Taiwan in the 1980s. For more refined dining, there are restaurants like Din Tai Fung, famous for its xiao long bao (soup dumplings), and the renowned Dragon Restaurant, known for its traditional Peking Duck.

Taiwan’s appeal extends far beyond its capital. The island’s natural beauty is showcased in places like Taroko Gorge, a stunning marble canyon that attracts nature enthusiasts from around the world.

English and Mandarin and are trained in electronics and industrial processes?’ so I said, ‘I’ll come back in five years,’” Leite recounts. Shortly after Leite returned to Paraguay, The Taiwan-Paraguay Polytechnic University (UPT) was established to develop engineering and technological talent in Paraguay. Taiwan is responsible for guiding the university’s development, while Paraguay is responsible for funding and constructing the campus.

“Now we have the fifth graduating class of engineers who speak Mandarin and English, trained in Paraguay with Taiwanese expertise,” says Leite. “President Pena an-

For those interested in Taiwan’s cultural heritage, the city of Tainan is the “Cultural Capital” of Taiwan, home to numerous temples, historic sites, and traditional festivals. The Confucius Temple dates back to 1665.

One of Tainan’s most celebrated events is the Taiwan International Orchid Show, held each spring. This festival attracts horticulture enthusiasts from around the world to admire the exquisite beauty and variety of orchids, which are a significant part of Taiwan’s agricultural exports ($200 million in annual exports).

Transportation in Taiwan is efficient and tourist friendly. The Taiwan High Speed Rail (THSR) connects the major cities along the western coast, making it easy to travel from Taipei in the north to Kaohsiung in the south in just a few hours. Moreover, Taiwan is known for its hospitality and low crime, consistently ranking high on global safety indexes. The locals are generally friendly and helpful, often going out of their way to assist tourists.

nounced the first factory for electric buses by a Taiwanese company in Paraguay. And now we’re in a position to return to Foxconn and say, ‘Hey, we’re ready. Look at us.’ We would like to use our energy to be the backup for Taiwan in terms of semiconductors, and we’re working on that.”

Statistics further highlight the growth potential. In 2020, Taiwan’s exports to Latin America amounted to $7.7 billion, demonstrating a growing economic interdependence. Moreover, Taiwanese firms have been increasingly investing in Latin American countries, with over 100 Taiwanese companies operating in Brazil alone.

THE MIAMI CONNECTION

Trade between Miami and Taiwan has also been on the rise, with Miami serving as a crucial cargo point for Taiwanese goods entering the Latin American market.

Over the past decade, the Port of Miami, often referred to as the “Cargo Gateway of the Americas,” has seen a substantial increase in Taiwanese imports, particularly in electronics, machinery, and high-tech components. In 2023, Miami imported over $713 million worth of goods from Taiwan, marking a significant increase from previous years. This surge is largely driven by the high demand for Taiwanese technology products and components essential for various industries. PortMiami and Evergreen Marine Corporation, a major Taiwanese shipping company, have also established regular shipping routes between Taiwan and Miami.

The economic ties between Miami and Taiwan extend beyond trade. Taiwanese companies are increasingly investing in Miami’s local economy, particularly in high-technology ventures. “Though Taiwan has few natural resources, we have invested heavily in our human resources. Such economic strength has played a pivotal role in fostering fruitful international relationships, particularly here in Miami,” says Director General Chou.

For Taiwan, its economic might through technological advancements has also given it a certain soft power on the global stage. Expertise in semiconductors and strategic investments in education and infrastructure abroad are pivotal to forging international alliances and enhancing its global relevance. While escalating geopolitical tensions could trigger a significant crisis, disruption in Taiwan’s semiconductor industry would severely impact the global economy, halting production of electronic devices worldwide.

Wu, for one, is not worried. “As long as we can produce world-class technology, we can survive and continue to contribute to the status quo in Taiwan,” he says. “For now, we are so indispensable that even China and the United States fear a war against Taiwan that could destroy Macronix.”

Latin American nations would love to enjoy similar economic importance, but even with the best efforts that dream is still years away. Wu said he believes it would take other countries at least a decade to match Taiwan’s current level of semiconductor expertise. All the more reason for urgent action now. l

TAIWAN'S ORCHID SHOW

• Multi-Billion Dollar Hi-Tech Hub

• No Slots/Curfews/Delays

• Top Perishable Products Hub

• Top U.S. International Freight Hub

• Multi-Billion Dollar Pharma Hub

• Top Latin American/Caribbean Hub

• High Ranking Global Freight Hub

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A Vision of Trade World Trade Center Miami

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WORLD TRADE CENTER MIAMI The Future of Trade

Table of Contents

PUBLISHER

Richard Roffman

EDITOR-IN-CHIEF

J.P. Faber

ASSOCIATE PUBLISHER

Gail Feldman

SENIOR VICE PRESIDENT INTERNATIONAL

Manny Mencia

DIRECTOR OF OPERATIONS

Monica Del Carpio-Raucci

SALES AND PARTNERSHIPS

Sherry Adams

Amy Donner

Andrew Kardonski

Gail Scott

DATA ANALYST/SENIOR EDITOR

Yousra Benkirane

WRITERS

Karen-Janine Cohen

Doreen Hemlock

Joe Mann

Katelin Stecz

ART DIRECTOR

Jon Braeley

PHOTOGRAPHERS

Rodolfo Benitez

Jorge Oviedo

PRODUCTION DIRECTOR

Jorge G. Gavilondo

PROOF READER

Lesley Fonger

CIRCULATION & DISTRIBUTION

CircIntel

BOARD OF ADVISORS

Ivan Barrios, World Trade Center Miami

Ralph Cutié, Miami International Airport

Gary Goldfarb, Interport

Bill Johnson, Strategic Economic Forum

Roberto Munoz, The Global Financial Group David Schwartz, FIBA

EDITORIAL BOARD

Alice Ancona, World Trade Center Miami

Greg Chin, Miami International Airport

Tiffany Comprés, FisherBroyles

Paul Griebel, Venture for America

James Kohnstamm, Miami-Dade County

John Price, Americas Market Intelligence

TJ Villamil, Select Florida

COVER PHOTO by Rodolfo Benitez

Global Miami Magazine is published bi-monthly by Global Cities Media, LLC. 1200 Anastasia Ave., Suite 217, Coral Gables, FL 33134. Telephone: (305) 452-0501. Copyright 2024 by Global Cities Media. All rights reserved. Reproduction in whole or part of any text, photograph, or illustration without o\prior written permission from the publisher is strictly prohibited. Send address changes to subscriptions@ globalmiamimagazine.com. General mailbox email and letters to editor@globalmiamimagazine.com

WORLD TRADE THE POWER OF

The Past, Present and Future of the World Trade Center Miami

WORDS BY KATELIN STECZ, PHOTOS BY RODOLFO BENITEZ AND THE WTCM

THE WTC LEADERSHIP

Ivan Barrios President & Chief Executive Officer

Barrios has had a relationship with WTC Miami since he graduated from the University of Miami’s Herbert Business School in 1989. After graduation he worked with WTC Miami for the following ten years, first as a senior trade specialist (1989-1994), next as vice president (1994-1997), and finally, from 1997-1999, as part of a three-person team that created WTC Miami’s signature trade shows. From there, Barrios moved on to Enterprise Florida where he worked with WTC Miami Chair Manny Mencia. During his time at Enterprise Florida (1999-2015), Barrios organized 28 trade missions to 22 countries for three governors; produced and published five Florida International Trade and Services Directories; and created the Florida Trade Data Center. In 2020, Barrios took over leadership at WTC Miami.

Alice Ancona Chief Operating Officer

Even though Ancona is the latest addition to WTC Miami’s leadership team, she has more than 20 years of experience in Miami’s international business community and has been involved with WTC Miami throughout her career. Starting out at the Greater Miami Chamber of Commerce, Ancona led the governmental affairs division where she directed the policy agenda. From there, she moved on to her next role at the Florida Chamber of Commerce. Working as the director of international strategy and policy there, Ancona played a part in successful campaigns to win congressional passage of trade agreements with key Florida trading partners like Colombia the Dominican Republic, Panama, Chile, and Korea. She also worked to secure the Free Trade Area of the Americas. At the beginning of 2020, Ancona joined WTC Miami and since then has used her lobbying and data analysis skills to grow the organization.

Manny Mencia Chairman of the Board of Directors

With nearly 50 years of experience, Mencia has played a pivotal role in developing Miami’s international trade scene. Prior to becoming the chairman of WTC Miami, Mencia served in executive positions at the Florida Department of Commerce from 1977 to 1991. He worked as vice president of world marketing at the Miami-Dade Beacon Council from 1992 to 1996, and from 1996 to 2021 he was the senior vice president of the International Trade and Business Development unit at Enterprise Florida, the public-private organization which supplanted the state's commerce department. As a WTC Miami board member since 1988, Mencia has been deeply involved with the organization for the lion’s share of his career and hopes to continue building Miami’s international business community.

It is before 11 am on a Thursday morning, and Ivan Barrios, the President and CEO of the World Trade Center Miami (WTC Miami) has already hopped on a call with the headquarters of the World Trade Center Association in New York City; spoken with the Argentinian sales agent who is coordinating WTC Miami’s trip to Argentina the following week; talked to the Brazilian Embassy; and joined a conference call with the Serbian consulate. For the rest of the day, Barrios will be in and out of meetings, and even after his workday is done, he will still be in communication with his team, brainstorming plans for how to expand WTC Miami’s reach.

WTC Miami has been around for more than 37 years. Like the 300+ other members of the World Trade Centers Association in 90 countries, its job has been to facilitate international trade by connecting private companies from around the globe. In the last five years, however, the WTC Miami has undergone a major transformation. Just as Miami saw a period of unprecedented growth during the pandemic, WTC Miami has also emerged from the pandemic stronger than ever.

Historically known for its Americas Food and Beverage show and Air Cargo Americas exhibition and conference, WTC Miami’s pandemic-induced pause gave it the opportunity to look at growing these shows with a data-driven approach that is paying off. In April, WTC Miami released its economic impact study for its 2023 shows, bringing attention to just how significant WTC Miami is to the local economy. Both events combined supported 243 jobs and $21.1M of economic activity.

“The pandemic unexpectedly offered us a valuable opportunity,” says WTC Miami CEO Barrios. “During the two years, we were unable to hold shows, so we used the time to look internally, and strategically plan in a way this organization has never done before.”

The hiatus from its signature events also prompted the organization to explore opportunities for growth with new programs. In the coming year, WTC Miami will launch two additional events: the carga logistica Americas Summit and Aerospace Defense Americas Conference & Expo. The organization has also revived its membership program, with plans to host special networking events and offer additional perks. Once it creates a large enough constituency, the goal is to flex its muscle for trade policy advocacy.

WTC Miami’s expansion comes at an opportune time. From 2021 to 2022, total trade for the Miami Customs District increased by over $16B, reaching $136.6B. And while global trade was down almost 5 percent in 2023, the Miami Customs District remained resilient, with total trade hitting a record $137B. Slight growth, yes, but against headwinds and with a demonstration of consistency that reflects South Florida’s position as a global trading hub.

“When you look at it, Miami is the capital of trade. It’s the only place where we have the entire worldwide trade and logistics community in one place…and [WTC Miami] is becoming the leading voice of trade,” says Gary Goldfarb, vice-chair at WTC Miami.

HISTORY

The idea of creating an international business organization to foster trade and help foreign companies expand to South Florida existed long before WTC Miami operated as a World Trade Center licensee. The organization’s predecessor, the International Center of Florida (ICF), was founded in 1971 by the late Gui Govaert, dual US-Belgian citizen and Consulate General of Belgium for 30 years. Govaert created the ICF to expand and diversify South Florida’s economy. By encouraging international business, he hoped the

Ivan Barrios

region would become less dependent on tourism and agriculture. “In other words [international business] is a stabilizing force in South Florida and will become more and more important to eventually becoming the most important element of our economy,” wrote Govaert in a document kept in WTC Miami’s archives.

Over the ensuing years, the ICF grew with the involvement of a few prominent Miami businessmen and international players. Finally, in 1985, the City of Miami and the Beacon Council (Miami-Dade County’s economic development organization) pushed for the creation of an international business center focusing on trade. Given that the ICF already existed, the City of Miami provided it with the funds to become an operating licensee of the World Trade Center Association. In 1987, WTC Miami was officially born.

When WTC Miami first started, its focus was on its membership program, but that shifted with the turn of the century. From the early 2000s until the pandemic, the organization remained a small yet constant part of the international business community in Miami by focusing on its signature events: The Americas Food and Beverage Show & Conference, The Air Cargo Americas and Supply Chain Americas Conference and Exhibition; The International Achievement and International Hall of Fame Award; The International Women’s Achievement Award; the State of the Ports Luncheon; and World Trade Month.

When you look at it, Miami is the capital of trade. It’s the only place where we have the entire worldwide trade and logistics community in one place.

GARY GOLDFARB [SHOWN ABOVE], VICE-CHAIR AT WTC MIAMI, AND CHIEF STRATEGY OFFICER AT INTERPORT LOGISTICS.

Since the pandemic, WTC Miami has undergone a period of expansion that’s putting it back at the forefront of Miami’s international business community. In 2020, former Vice President of WTC Miami Barrios took over leadership from Charlotte Gallogly, who had been with the organization since its inception in 1987. A forceful personality, Gallogly kept the organization running through national disasters like 9/11 and the Great Recession.

After Barrios became CEO and President, Alice Ancona joined the team as COO, and Manny Mencia, a member of WTC Miami’s board for over 30 years, became WTC Miami’s chair. Ancona had worked in the international sector at the Florida Chamber of Commerce, while Mencia had for decades directed the international efforts of Enterprise Florida (now Select Florida), at the time the state’s de facto department of commerce. Overnight, these three Miami trade titans were spearheading the movement to accelerate Miami’s role as

COO OF THE WORLD TRADE CENTER MIAMI

Alice Ancona

the hemispheric capital of global trade with WTC Miami at the helm.

“World Trade Centers are supposed to be a catalyst for international activity,” says Mencia. “[WTC Miami] has looked at itself in the mirror and determined what the organization should be … With the team and the support from the board of directors, this organization has transformed itself, and is finally becoming what it was always meant to be.”

EVENTS

AMERICAS FOOD & BEVERAGE SHOW & CONFERENCE

From 1998 on, The Americas Food & Beverage Show & Conference at the Miami Beach Convention Center has been WTC Miami’s largest event; in the last year, it’s gotten a lot bigger. In 2022, its first year after the pandemic, the show saw similar numbers to 2019 –around 4,000 attendees and 400 exhibitors. In 2023 those numbers skyrocketed, with 7,300 attendees and 653 exhibitors – a 55 percent increase and 44 percent increase, respectively, from the previous year.

Ancona attributes the increase to the strategic planning WTC did during the pandemic, including capitalizing on available data. “We came in 2022 with a rebranded Americas Food & Beverage show, and we actually had the metrics to capture the data of what was happening,” says Ancona. “That’s something that didn’t exist before…We know now which buyers had meetings, how many meetings they had, who they engaged with. All of that data is a selling point for exhibitors.”

At its 2023 show, WTC Miami released an app that used AI to match buyers and exhibitors based on information they uploaded

We came in 2022 with a rebranded Americas Food & Beverage show, and we actually had the metrics to capture the data of what was happening. That’s something that didn’t exist before…

to their profiles. After seeing their recommendations and exploring who was attending, buyers and exhibitors could schedule a meeting on the app. Ancona says that in one day of the conference, there were 1,400 meetings scheduled.

“Buyers won’t come back if they don’t meet the right companies. Exhibitors won’t come back if they don’t meet the right buyers,” says Ancona. “Understanding what the buyers want [and] why they come is how we went from 3,000 local buyers to 7,300 international and U.S. buyers.”

In addition to new data and software, Barrios says the show has grown because the organization is “hitting the road a lot more than it ever has.” This year alone, Barrios and Ancona have been to India, the UK, Argentina, Brazil, and Spain to promote the organization’s shows. Some of the countries were locations the organization had not previously visited. Next on the agenda are South Korea and Australia.

Prior to the pandemic, the show primarily had a regional focus, and the bulk of buyers and exhibitors came from the United States and LATAM. Now, the show is seeing more interest from European, Asian, and Middle Eastern markets.

ALICE ANCONA, COO OF WTC MIAMI, ON HOW ATTENDANCE AT THE AF&B SHOW, SHOWN ABOVE, SKYROCKETED IN 2023.

CHAIRMAN

Manny Mencia

STATE OF PORTS LUNCHEON

For over the last three decades, WTC Miami has organized the State of Ports luncheon presentation to bring together community leaders and business executives while highlighting updates from Miami’s economic powerhouses: Miami International Airport (MIA) and PortMiami. MIA is the nation’s second-leading international passenger gateway and the leading international cargo airport, and PortMiami is the world’s top cruise port and a global cargo gateway. Together, these ports have an economic impact exceeding $75 billion and support over 610,000 jobs. The luncheon is an opportunity to hear from Hydi Webb, Director and CEO of PortMiami, and Ralph Cutié, Director and CEO of MIA, about the state of the ports concerning trade and travel statistics, infrastructure investments, and capital improvements.

According to Ivan Barrios, President and CEO of WTC Miami, the event traditionally draws around 250 attendees, but this year’s luncheon on June 5 topped 500 attendees as it coincided with the World Trade Month’s tabletop expo. Before and after the luncheon, registered businesses had the opportunity to showcase their company and network with leaders and professionals in the aviation and maritime industries.

Although WTC Miami plans on expanding the show’s reach across the globe, it still intends to keep the show centered around small and medium-sized firms with attendance limited to industry professionals. According to Ancona, small and medium-sized firms that can innovate and keep up with current trends are what buyers are primarily interested in, and the show is a great opportunity for those firms to get exposure they normally wouldn’t.

“Participation at the AF&B show allows us to showcase our products to a wide range of distributors and buyers from across the globe, all in one place,” says Bryon Coleman, senior vice president of Jones Dairy Farms regarding the show. “Our presence allows us to reconnect with customers, build relationships, and fast track countless discussions, meetings, and buyer opportunities that help to enhance our sales efforts,”

With added interest from markets in Asia and Europe, Barrios expects that the upcoming 2024 show will be another record-breaker with an estimated 9,000-10,000 attendees. As of June, the show was 80 percent pre-sold.

This year, WTC Miami can also expect a greater turnout because it’s partnering with Informa Markets LATAM to host a co-located show. From 2024 to 2026, The Americas Food & Beverage Show will run alongside Food and Hospitality LATAM, which focuses on food service and equipment. Barrios says that running the two shows together will benefit both organizations because it acts as a one-stop shop. Buyers can access both food products and food service equipment in the same location, and there will likely be an overlap of attendees.

“It was a perfect fit,” agrees Leonardo Benedicto, business director for the Latin hub at Informa Markets LATAM. “[WTC Miami] already has established a good show with a large audience, and we could add more categories to the show to better serve the audience.” Informa is one of the biggest events companies in the world, and its partnership with WTC Miami reflects its plan to expand its existing food events in the region. The company currently organizes Fispal Food Service in Brazil and Abastur in Mexico.

In addition to its partnership with Informa, WTC Miami will host the Latin Chamber of Commerce of the United States (CAMACOL) for its Hemispheric Congress of Latin Chambers of Commerce and Industry at the 2024 show. Barrios says that while it is a strategic move on WTC Miami’s behalf to host CAMACOL –visiting delegations bring buyers and potential exhibitors – its main purpose is to bring the entire international community together.

Adds Barrios, “Our mission here, it’s all about being a resource to people and connecting people with what they need… Everybody’s interested in selling to the U.S. market, and we can help them get into the U.S. It’s not just the show. We as an organization can help you. We can help you with scaling up. We can help you with market data. We can help you bring in a delegation. We can introduce you to people, so it’s not just a show. We’re offering a platform to enter the U.S. market through Miami.”

This year’s Americas Food & Beverage Show & Conference will be held September 16-18, 2024.

AIR CARGO AMERICAS/SUPPLY CHAIN AMERICAS EXHIBITION AND CONFERENCE

Every two years for the last three decades, leaders from the aviation and logistics industries have gathered at Miami International Airport (MIA) for the Air Cargo Americas Exhibition & Conference. As one of WTC Miami’s oldest events, Air Cargo Americas has a reputation for attracting some of the biggest hitters

TOP: RALPH CUTIÉ, DIRECTOR AND CEO OF MIA (STANDING) AND HYDI WEBB, DIRECTOR AND CEO PORTMAIMI

BOTTOM: IVAN BARRIOS, PRESIDENT AND CEO OF WTC MIAMI

in the industry, and in recent years the event has drawn an even wider range of executives.

In 2019, WTC Miami added the Supply Chain Americas portion to the conference and exhibition to acknowledge potential weaknesses in global supply chains. “Since before COVID, supply chains have been everyone’s concern, but during and after the pandemic, we’ve seen even more congestion at airports and seaports,” says Chris Mangos, marketing and communications director at WTC Miami. “We now have more people coming to [Air Cargo Americas/Supply Chain Americas] because of that. Supply chains, logistics, those topics are what everyone’s talking about.”

Only in its second year of full operation, the most recent Air Cargo Americas/Supply Chain Americas Exhibition & Conference, held from October 31 to November 2, 2023, attracted over 3,200 top executives from various sectors of the aviation and logistics industries. These executives represented more than 75 different countries. The conference portion of the event drew around 400 attendees and showcased more than 100 exhibit booths.

Mangos, who formerly worked at Miami International Airport and has been involved since the event’s inception, says the majority of attending companies are from the Americas and Europe. As WTC Miami’s brand grows, Mangos predicts interest from Asian companies in the future.

Barrios says the main draw of the event is the unique opportunity it provides to network with some of the biggest leaders in the air cargo and supply chain industries, all in one place. “This is a very C-suite-driven event. You have nearly 4,000 executives coming. What are they doing? They’re meeting with the companies here. They’re meeting with their teams. They’re making connections,” says Barrios. “The whole point of this event is about ecosystem building.”

You have nearly 4,000 executives coming. What are they doing? They’re meeting with the companies here. They’re meeting with their teams...

Ancona says that WTC Miami has seen companies fly their Latin American teams to the event for regional meetings. Outside of their teams, attending companies receive ten passes to invite established and potential customers to the event; should they require more, Barrios and Ancona say they’re happy to provide them.

Given MIA’s status as the United States’ busiest airport for international freight and the fact it’s consistently moved more than 2.7 million tons of cargo annually over the last three years, it makes sense that it would be the backdrop to such a gathering of industry leaders. The growth MIA saw in 2023, despite global trade contraction, was key to Miami’s aggregate trade expansion last year. “That’s what makes this event important. It truly is a visual of why Miami is at the center of logistics for everything,” says Ancona.

The next Air Cargos/Supply Chain Americas Exhibition and Conference is slated for 2025, with specific dates to be determined.

CARGA LOGISTICA AMERICAS SUMMIT

Last year, WTC Miami announced it would be joining forces with Messe München, one of the world’s leading exhibition companies, to organize the carga logistica Americas Summit in Panama City, Panama, tentativelly planed for October. A joint spin-off of

ALICE ANCONA, COO OF WTC MIAMI, ON WHO ATTENDS THE AIR CARGO AMERICAS/SUPPLY CHAIN AMERICAS SHOW ABOVE.

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TRADING AFTER HOURS NETWORKING RECEPTION

In April, WTC Miami’s conference room was abuzz with conversation as business cards were exchanged and drinks toasted over new connections. People circulated, shaking hands against the backdrop of WTC Miami’s promotional materials for its upcoming Americas Food & Beverage Show. Natalia Samayoa, trade commissioner at the consulate of Guatemala in Miami, stepped up to the podium and introduced the Guatemalan businesses that had flown in for the event. Among them was Wellco Corporation, a pharmaceutical company hoping to sell its skincare line and veterinary products in the United States.

For Wellco and other Guatemalan companies looking to enter the U.S. market, WTC Miami’s Trading After Hours Networking Reception offered the opportunity to connect with the Miami business community and take the next steps. The monthly event is exclusive to WTC Miami members, with the organization opening its doors to consulates and inbound trade delegations when the reception highlights a specific country. In March, WTC Miami hosted an inbound trade mission and delegates from Costa Rica, and in April Guatemala. Adding this component to the reception ensures that local consulates are aware of the resources WTC Miami offers, including help organizing trip itineraries for inbound trade missions, and connecting consulates with other trade partners and organizations for their constituents.

In the past, for example, WTC Miami provided meeting space for the Guatemalan consulate when Guatemalan officials were visiting. “We’ve had a partnership with the World Trade Center for over maybe fifteen years,” says Samayoa. “They’re a strategic partner for us. We contact them very often, and our purpose is to continue working along with them.” This monthly event also offers WTC Miami members the opportunity to network with people at the forefront of Miami’s international business community, to explore potential business and investment opportunities.

For us, World Trade Center Miami is a perfect partner. We don’t have a strong network in Latin America, so they can really help...

DR. ROBERT SCHÖNBERGER, ABOVE, FROM MESSE MÜNCHEN

WTC Miami’s Air Cargo Americas and Messe München’s Transport Logistic Americas, carga logistica will take elements from both Miami-based logistics shows to Panama City to highlight opportunities for business and growth in LATAM’s logistics industry.

The two-day conference and exhibition will feature leading voices in LATAM’s logistic scene, multiple networking opportunities, and a small tabletop exposition. Expected attendees are professionals and leaders in air cargo, transport logistics, supply chain, and related industries throughout the Americas. Dr. Robert Schönberger, Global Industry Lead at Messe München, says that so far the conference has piqued interest primarily from Central America and the U.S. However, he expects the event will draw players from Europe and Asia that are looking to explore new supply chain solutions and enter the LATAM market.

Although carga logistica represents many firsts for WTC Miami – it’s the organization’s first partnership with another brand and its first show abroad – it’s a strategic move for WTC Miami. In terms of exhibitions, Messe München is a global powerhouse. The company is active in more than 100 countries and organizes more than 60 trade shows globally across a network of affiliated compa-

NATALIA SAMAYOA, TRADE COMMISSIONER, GUATEMALA IN MIAMI

nies and foreign representatives. Its Air Cargo Europe, for example, is the largest logistics show in the world, attracting 75,000 visitors from over 135 countries in 2023; its Miami-based Transport Logistics America drew over 6,100 visitors last year as well.

The partnership between WTC Miami and Messe München is a win-win of cross marketing. The German trade show will expand WTC Miami’s exposure in Messe München’s key European and Asian markets. Similarly, Messe München stands to benefit from WTC Miami’s recognition in LATAM. Currently, Messe München only has two shows in the Americas: Transport Logistics America and an environmental technology show in Brazil.

“For us, World Trade Center Miami is a perfect partner,” says Schönberger. “We don’t have a strong network in Latin America, so they can really help us in setting something up like [carga logistica] and developing an outreach. We have other markets we’re strong in that we can bring to this partnership.”

When the two organizations discussed the new show’s location, Panama was the clear choice. The country’s status as a connector, not only with the Panama Canal but also as a bridge between North and South America, makes it one of the world’s highest profile logistics hubs; In 2023, the country was named No. 1 in Latin America in the Logistics Performance Index (LPI) by the World Bank. Moreover, logistics services represent over 25 percent of Panama´s GDP; the country is also home to the second-largest free trade zone in the world.

The main difference between carga logistica and Air Cargo Americas/Supply Chain Americas is the scope of focus. Carga lo-

Aerospace has a massive supply chain challenge, but we build that stuff here in Florida… It’s easy, low-hanging fruit...

ALICE ANCONA, COO OF WTC MIAMI, ON HOW FLORIDA IS ALREADY ESTABLISHED IN AEROSPACE.

gistica will highlight supply chain problems and solutions particular to Latin America, while Air Cargo Americas/Supply Chain Americas discusses the topics with more of a global focus. Also, while Air Cargo Americas/Supply Chain Americas focuses on logistics in terms of air cargo, carga logistica opens the conversation to all modes of transport. If the show is a success, says Mangos, it will likely become a staple in WTC Miami’s future agenda, alternating annually with the Air Cargo show.

AEROSPACE AND DEFENSE AMERICAS EXHIBITION AND CONFERENCE

Florida’s aerospace and defense industries are some of the most competitive in the nation. Florida exported over $9B in aerospace products and parts in 2022, and it’s one of the top five states in the nation for the receipt of Department of Defense contract awards (see story pg. 38). Combined with the state’s three spaceports, 130 public-use airports, and 20 commercial airports, it makes sense that one of WTC Miami’s latest objectives is its new

Cruise Capital of the World Global Gateway of the Americas

INTERNATIONAL ACHIEVEMENT AND INTERNATIONAL HALL OF FAME AWARDS

Since 1975, WTC Miami has periodically hosted its International Achievement & International Hall of Fame Awards. This event is now poised to become one of WTC Miami’s anchor events. Created to acknowledge the companies and individuals who have made major contributions to international trade and business on a state, national, and/or global scale, both awards illustrate Miami’s role as an outpost for international trade and the people who have made that possible.

In December of 2023, the International Achievement Award was presented to American Airlines for promoting Miami’s global connectivity in terms of transport and trade. The International Hall of Fame Awards were presented to Tony Villamil, founder and principal of the Washington Economics Group; Mike Carricarte, former CEO of Miami-based Amedex Assurance; and Virginia Sanchez, regional director for government affairs at American Airlines. In special recognition for Sandler, Travis & Rosenberg, P.A.’s work in international trade, customs, and export law, the Chairman’s Award was presented to Lee Sandler and Tom Travis.

Aerospace Defense Americas Exhibition and Conference.

The inaugural three-day conference will take place in Miami and Cape Canaveral over three days next February. The first two days in Miami will highlight Florida’s aerospace, defense, and security sectors, and the third day will start with a tour of Cape Canaveral’s space center and focus on the growing space industry.

WTC Miami is planning for the event to be less like a trade show and more of a platform for networking and B2B opportunities. Since the pandemic, it’s clear that many industries have encountered supply chain issues; given the complex nature of aerospace and defense industries, those supply chains are particularly vulnerable to disruption. Aerospace Defense Americas was created to help professionals in the aerospace, defense, security, and space industries meet existing and potential new suppliers – while highlighting Florida’s prowess in these arenas.

“We have two theatres of geopolitical instability going on right now [aerospace and defense],” says Ancona. “Aerospace has a massive supply chain challenge, but we build that stuff here in Florida… It’s easy, low-hanging fruit because Florida is already established in aerospace and defense. And it’s not just South Florida, it’s the entire state.” To promote the show, the WTC Miami has signed a Memorandum of Understanding with the UK trade association ADS and partnered with both Space Florida and The Aerospace Alliance.

In addition to partnerships, Barrios and Ancona are also “hitting the road” to spread the news about the new conference. The pair recently visited Brazil and Argentina to meet with those country’s respective aerospace sectors and drive interest in the show. Brazil in particular could be a major player in the event. The country has the 5th largest airspace in the world and is one of six countries globally that manufactures commercial jets. In addition, Brazil is also a top destination for Florida exports, with aircraft and aviation parts leading those exports.

The 2025 Aerospace and Defense Americas Exhibition and Conference is scheduled for February 11-13, 2025

THE FUTURE OF WTC MIAMI

OPERATING WITHIN A NETWORK

While WTC Miami is a driving force in Miami’s international business community, the organization doesn’t act alone. It’s one part of a large, connected intranet of World Trade Centers around the globe that foster and facilitate international commerce. The World Trade Center Association, headquartered in New York City, oversees over 300 licensees in more than 90 countries. Recently added to that list was WTC Georgetown in Guyana.

Guyana is currently one of the fastest growing economies in the world due to oil discoveries in the last decade. In 2022 and 2023, the country had the world’s highest real GDP growth rate. The U.S. is currently its largest trading partner, with most of that trade coming through Miami. The country is looking to become even more connected to Miami through the World Trade Center network.

Earlier this year, WTC Georgetown signed a Memorandum of Understanding with WTC Miami. The agreement will open the door for future networking opportunities, market access, and inbound/outbound trade missions. Signed at WTC Miami by Barrios and Executive Director of World Trade Center Guyana, Wesley Kirton, the MoU reflects how World Trade Centers operate within the network.

Kriton says that once WTC Georgetown is established in its physical location in September 2024, it will begin sending delegations to Miami. However, WTC Miami is already offering Guya-

TOP: TONY VILLAMIL (LEFT) AND MIKE CARRICARTE

ABOVE: LEE SANDLER AND ALICE ANCONA

nese companies supported by WTC Georgetown the opportunity to explore business in Miami with its Americas Food & Beverage Show. While not exhibiting, a group of small Guyanese food producers will participate in this year’s show free of cost, allowing them to network and meet potential buyers.

“We’ll have people come, attend the show,” says Ancona “We can discuss for the following year if Guyana would like to exhibit and if they feel it reaches their expectation… We work with countries that have not yet been at the show. We encourage them to visit…. to have the opportunity to meet with potential partners as they explore either entering the U.S. market or exporting globally.”

Komal Samaroo, chairman of Demerara Distillers Ltd. – the company that has secured the license for Guyana’s WTC – attended the signing virtually. “I believe our two World Trade Centers working together can further enhance and increase the level of trade that takes place now between now Guyana and the U.S.,” said Samaroo, “particularly at this time as countries look more at their food security, supply chain, onshoring, nearshoring and all these adjustments that are taking place.”

Aside from WTC Georgetown, WTC Miami currently has MoUs with the ADS Group, the American Chamber of Commerce of the Dominican Republic, ProDominicana, the Latin Chamber of Commerce of the U.S.A., and ProPanama.

WORKING TRADE GROUPS

Aside from its events, WTC Miami promotes trade through its working trade groups. With the goals of increasing interconnectiv-

We already know from our shows that there are some problems. Companies approach us and tell us there are trade barriers, facilitation issues, market access issues...

ALICE ANCONA, COO OF WTC MIAMI, ON HELPING MEMBERS BY OFFERING TALK SESSIONS LIKE THE ONE ABOVE RUN BY THE SMALL BUSINESS ADMINISTRATION (SBA).

ity between the major ports in the region and driving trade to and through Miami, these trade groups illustrate how the organization impacts international trade within Florida and other countries nearby.

In June 2022, WTC Miami embarked on a trade mission with Florida port leaders to Mexico City and Merida, to bolster bilateral trade and strengthen the relationship between Florida and Mexico. While the two have had a consistently strong trade relationship in the last few years – in 2022, bilateral trade was over $13B – the Florida-Mexico Workgroup on Maritime Commerce stands to increase shipping routes from Mexico to Florida ports.

Significant trade between Mexico and Florida is relatively recent, with most Mexico-U.S. trade moving across the land border with Texas and California. Then, in 2017, GMéxico Transportes S.A. de C.V. (GMXT) – a unit of Grupo Mexico – acquired Florida East Coast Railway Holdings Corp, Florida’s major rail line. “At that time trade just exploded,” says Chairman Mencia. Before 2017, Panama City was the only Florida port that had direct shipping to Mexico. Now, most of Florida’s major ports offer direct shipping to Mexico.

Explore the challenges of international trade alongside key industry leaders!

INTERNATIONAL WOMEN’S ACHIEVEMENT AWARD

This past March 15, only a week after International Women’s Day, more than 100 members of Miami’s international business community arrived at the Biltmore Hotel in Coral Gables for WTC Miami’s International Women’s Achievement award ceremony. Founded in 2004 by former WTC Miami CEO Charlotte Gallogly, this award recognizes women’s impact and leadership in Miami’s international business and trade community.

2024 awardees were Daisy Ramos, president and CEO of Florida Export Finance Corporation; Cari Cossio, district manager of international freight forwarder and customs broker, Geodis USA; Conchita Espinosa, founder of Fru-Veg Marketing; Monica Vazquez, country manager and executive vice president of ABANCA USA, one of Spain’s leading financial institutions in the US; and Lorena Sandoval, American Airline’s director of cargo sales for Miami, the Caribbean, and LATAM.

Sandoval says that she and her counterparts have undoubtedly faced challenges in their respective male-dominated industries, and it’s refreshing to finally get recognition for their work and what their gender has accomplished in trade and international business. “Being a female in this industry is not easy. We still have very few females in the logistics industry and seeing this type of award is very meaningful. It’s a success for all the females working in this industry, not only me,” she says.

Increasing trade between Florida and Mexico has been a multipronged effort, with Mencia and Ancona integral to the cause. In 2019, when both held their respective positions at Enterprise Florida and the Florida Chamber of Commerce, they started the Florida-Mexico Workgroup. After both started working with WTC Miami, they brought the organization into the fold.

WTC Miami’s second trade group focuses on the Dominican Republic (DR). The organization recently signed an MoU with the DR’s American Chamber of Commerce (story pg. 82). Of prime importance is increasing the linkages between Floridian and Dominican ports, says Ancona. A stronger relationship between the ports would enhance the DR’s ability to attract nearshoring operations for the U.S. market through Miami, while increasing the country’s reliance on Florida for electronics, software, and IT support.

For now, WTC Miami is focusing on its role in these two trade groups. But should the opportunity arise, Ancona says WTC Miami will promote other groups to enhance trade throughout the region.

BUILDING A CONSTITUENCY WITH MEMBERSHIP

One of the most important things WTC Miami has done during its recent transition is to revive its membership program. The program not only provides members with greater resources for success and connects them to WTC Miami’s extensive network, it gives the organization the teeth it needs to enact change.

To lure new members, the WTC Miami is offering a portfolio of perks. Members have full access to WTC Miami’s offices for meetings and exclusive access to networking events and opportunities to showcase their companies. The monthly Trading After Hours networking reception is one example. More importantly, WTC Miami’s membership provides the resources and connections that the organization, its board, and team members have worked years to build. From start-ups to established global companies, any business involved in trade through Miami can access invaluable resources.

In the future, members stand to gain even more from being associated with WTC Miami. As the organization’s membership grows, its influence likely will too. WTC Miami already engages in trade advocacy with its working trade groups, and hopes to increase these efforts with a strong membership base.

“Having a membership gives us a constituency so that we have a voice to represent someone. So, we can then take their issues and more appropriately address them at the right level to affect change,” says Ancona. “We already know from our shows that there are some problems. Companies approach us and tell us there are trade barriers, facilitation issues, market access issues. Those are all things that can be addressed if we have a constituency.”

Gary Goldfarb, vice chair and prospective chair, echoes Ancona’s remarks, emphasizing the potential power of a strong membership. “It’s one thing to approach state and federal officials with a constituency, but it’s another to approach them with a constituency full of international businesses that are driving up South Florida’s economic value,” says Goldfarb.

Moving forward, Goldfarb says he wants the organization to be even more aggressive with its membership program, offering more member perks, events, and anything that can increase the number of contact points between all current players in Miami’s international business community. As the chief strategy officer at Interport Logistics, Goldfarb has seen firsthand how trade has developed in Miami, and has big hopes for Miami as a trading nexus and WTC Miami’s role in that. “We are the trading capital of the world,” says Goldfarb as he raises his arms gesturing to Miami. “We have to make WTC Miami the voice of that trading capital.” l

TOP: WINNERS OF THE INTL. WOMEN’S ACHIEVEMENT AWARD

ABOVE: LORENA SANDOVAL RECEIVING THE 2024 AWARD

Three Facilities in 300,000 Sq Ft Over Miami, Totaling

Knocking Down Trade Barriers

Given its proximity to Florida, it makes sense that the Dominican Republic is one of the state’s closest trading partners. It’s also natural that most of this trade flows through Miami. In 2023, bilateral trade between the Dominican Republic and the Miami Customs District alone amounted to $8 billion, with 2024 on track to match that number.

As robust as the relationship is between these two trade partners, it stands to become even stronger with the recent combined efforts of WTC Miami and the American Chamber of Commerce of the Dominican Republic’s (AMCHAMDR). In January, WTC Miami and AMCHAMDR signed a Memorandum of Understanding to “identify pain points in cross border trade” and “reduce those barriers for the benefit of both parties,” said William Malamud, executive vice president of AMCHAMDR.

“The Dominican Republic is Florida’s – and Miami’s – largest trading partner in the Caribbean…our objective is to reduce barriers between the Dominican Republic and Florida,” said Manny Mencia, chair of WTC Miami. The new agreement reflects years of collaboration between key industry players intent on making the Dominican Republic the region’s logistic hub. A working trade group created by the agreement features representatives from Miami International Airport (MIA), PortMiami, American Airlines Cargo, Amerijet International Airlines, FedEx Express, UPS, Transtar, Interport Logistics, Aerodom, Punta Cana Airport, CaribeTrans, and Puerto Río Haina (HIT).

The group had its first meeting at the WTC Miami in early June to discuss how it would implement the MoU’s goals. Mencia says the meeting focused on three principal objectives: nearshoring, pre-inspection, and increasing air cargo.

STANDING:

ALICE ANCONA, VP OF THE WTCM

WILLIAM MALAMUD, EXECUTIVE VICE PRESIDENT OF AMCHAMDR

MANNY MENCIA, CHAIRMAN OF WTCM

SEATED:

IVAN BARRIOS, PRESIDENT/CEO OF WTCM

EDWIN DE LOS SANTOS, PRESIDENT OF AMCHAMDR

Since the COVID-19 pandemic, disruption in supply chains and production based in China has led many multinational firms to look toward Central America and the Caribbean for nearshoring. While Mexico has attracted most of the firms, the Dominican Republic has positioned itself as a viable option through its manufacturing capabilities, especially in the medical supplies/instruments industry. In 2023, medical instruments were the second-largest import from the DR to the Miami Customs District, and since the pandemic, the country has attracted multinational firms in the industry such as: Cosmed Group, which specializes in the sterilization and pasteurization of medical devices; Fresenius Kabi, which produces a range of blood transfusion and handling products; Edwards Lifesciences, which distributes medical devices worldwide; and Medtronic, which manufactures high-tech medical devices.

The group also focused on establishing more pre-inspection programs for Dominican agricultural products bound for Florida. Mangos are currently among the only produce to receive pre-inspection. “One of the sectors that has grown the most has been nontraditional agricultural products, all kinds of fruits and vegetables,” says Malamud. “But there have been a lot of reject containers that arrive over in Florida for whatever reason – improper documentation, some kind of insect, inappropriate pesticide, et cetera.” Malamud says there are plans to host a delegation of officials from MIA, WTC Miami, the U.S. Department of Agriculture, Animal and Plant Health Inspection Service (APHIS), and the FDA to educate major agricultural producers on how to reduce product rejection. He also says the trade group will facilitate conversation between public entities in the DR and the U.S. for more pre-inspection and pre-clearance programs.

Lastly, the working trade group emphasized the need to increase air cargo. “Most of the cargo between the U.S. and the Dominican Republic comes by sea,” says Mencia. Malamud adds, “Last year, we broke 10 million tourists coming by air. There’s cargo space in the belly of all those planes.” The interest in boosting air cargo is shared by key members of the task force, including American Airlines Cargo, Amerijet International Airlines, FedEx Express, and UPS. l

Miami’s Trade with the World

In the first quarter of 2024, the Miami Customs District experienced a dynamic trade performance, underscored by a diversified portfolio of trading partners and products. Brazil stood out as the top trading partner at $4.27 billion, driven by the exchange of industrial goods and commodities like aircraft parts. Colombia and China followed, with $2.38 billion and $2 billion respectively, largely because of their imports to the district.

On the import side, unspecified commodities topped the list at $1.68 billion, followed by telephones ($1.18 billion) and gold ($751 million), showcasing a diverse range of incoming goods. Exports were dominated by high-value items such as aircraft parts ($2.39 billion), telephones ($1.55 billion), and packaged medications ($998 million), highlighting Miami’s role as a crucial hub for technological and medical products. The presence of recreational boats in both export ($376 million) and import ($412 million) categories also signified Miami’s strategic importance in the luxury goods market. l

MIAMI CUSTOMS DISTRICT QUARTER 1. 2024 TRADE

Global Sport A

TIME FOR CRICKET IN AMERICA?

BY DOREEN HEMLOCK

The sport of cricket is gaining popularity in the United States, and South Florida is cashing in.The first stadium in the U.S. to be certified by the International Cricket Council (ICC) was built in Broward County, and in June the venue was one of just three nationwide selected to host matches for the ICC Men’s T20 Cricket World Cup held in the U.S. for the first time.

Cricket, born in England in the 1500s, now ranks as the world’s second most watched association sport, trailing only after soccer. So, Broward leaders worked with the

ICC and other groups to gear up for the T20 Cup. The county upgraded its stadium and adjoining park, and Visit Lauderdale spread the word. “This cup is important to promote our destination,” Stacy Ritter, Visit Lauderdale president and CEO, told Global Miami. Unfortunately, three of the four matches set for Broward County Stadium in Lauderhill were cancelled after record rains. That meant the T20 Cup likely brought some $2 million-plus in immediate economic impact to the county, instead of the $8 million-plus projected from four matches.

ABOVE: BROWARD COUNTY STADIUM RIGHT: INDIA V PAKISTAN

Still, mid-term gains are starting to flow, with more requests to use the multi-purpose stadium both for cricket and other events, says Dan West, director of Broward’s parks and recreation department.

WHY CRICKET IS GROWING IN THE U.S. NOW

Cricket has long been popular in South Florida with its West Indian community, which grew up with the sport in Jamaica, Guyana, Trinidad, and other nations that spent centuries as British colonies. Indeed, Lauderhill sometimes is dubbed “Jamaicahill” for the strong Jamaican and West Indian diaspora there.

But the sport is taking off across the U.S. now because of the surge of a different diaspora, mainly from South Asia and especially India, the world’s most populous nation with 1.4 billion residents. Investors in the U.S., some of Indian heritage, have been pouring billions of dollars into U.S. cricket, even launching a U.S. Major League Cricket association in 2023. Team owners include Microsoft CEO Satya Nadella, an Indiaborn engineer who is now a U.S. citizen.

Broward began its cricket push in the 2000s mainly to meet local demand. In 2007, the county opened its top-notch cricket stadium inside its Central Broward Park project, and soon gained ICC certifi-

Our goal is to see a Major League Cricket franchise in Broward, developed with private- sector partners...

ABOVE: CRICKET FANS AT THE BROWARD COUNTY STADIUM WAITING FOR THE CRICKET MATCH TO RESUME DURING RAIN.

cation for the site. That stadium has been hosting international cricket events since, with no rain issues before, says West. Many events were T20 matches, a shortened version of the game drawing new fans.

To prepare for the T20 Cup in June, Broward invested another $11.5 million in the Lauderhill facilities. It increased the stadium’s permanent seating to 8,150 and added modules to hold another 11,000 spectators. It also installed new equipment and enhanced park entrances, among additional improvements, aiming to accommodate cricket, concerts, and other offerings at the multi-purpose stadium.

“Hosting global sports events is not cheap,” concedes West. “But there’s a significant benefit for hotels, restaurants and shopping. And there’s a benefit from new infrastructure that leads to other events and economic impact.” For instance, Los Angeles’ Major League Cricket team trained

at the stadium in July.

Of course, cancellations of three Cup matches in Broward sparked some concern. India’s former cricket team captain Sunil Gavaskar asked ICC to require more extensive ground covers at stadiums, not just covers for the main playing area. “So many people were waiting to see top stars in action, but they were denied,” Gavaskar told Indian media. Broward used the ground cover ICC requires, and “if a larger cover is required, we’d be happy to oblige,” West says.

“Our goal is to see a Major League Cricket franchise in Broward, developed with private-sector partners,” says West. The county is obliging by encouraging youth cricket teams, hoping to expand the sport’s allure. “If cricket can be integrated into schools and the community, more people will come out to watch it, and one day, cricket can reach levels like soccer has in the U.S.,” says West. l

DAN WEST, DIRECTOR OF BROWARD’S PARKS AND RECREATION DEPARTMENT.

Marquis High Rises

This month we look at two condominium properties with iconic names, the St. Regis in Bal Harbor and the Surf Club in Miami Beach. Both are stunning properties – and priced accordingly.

LISTING PRICE: $12.9M

5-STAR AMENITIES

St. Regis Bal Harbour. 9703 Collins Ave, #1900, Bal Harbor 3 bed, 3.5 bath, 2,721 square feet

Panoramic views of the Atlantic Ocean from this completely modernized residence that blends opulence and contemporary design. Impeccably renovated, this turnkey unit stands as the pinnacle of elegance in the Center tower. Custom-made Italian kitchen with Miele appliances,

Italian porcelain floors, and infrared sauna in master bath. Ultimate luxury 5-star resort amenities include: Remede Spa, Fine Dining, Full Pool and Beach service area, Butler service. Listing Agent: Inga Boutboul (ONE Sotheby’s International Realty), 305-450-7048

Photography: Fernando Galligani, Bright

LISTING PRICE: $33M

A PLACE FOR ALL SEASONS

Surf Club Four Seasons. 9111 Collins Ave N721, Miami Beach

4 Bed, 4 bath, 5,321 square feet

The old-world charm of The Surf Club meets state of the art Four Seasons hospitality in this rare corner residence with architectural design by Richard Meier and interiors by Greenauer Design Group, Inc. Fully furnished & equipped turnkey with a custom German

Eggersmann kitchen, custom stone tile bathrooms, fully integrated sound, Lutron lighting and much more – with massive balconies and a temperature controlled two-car garage space. Listing Agent: Jaclyn Bild (Douglas Elliman), 786.210.7399

Photo Credit:

A Vision in White

DINING AT LA MÀRTOLA IS A BRIGHT AND LIGHT EXPERIENCE

BY ANDREW GAYLE

When you first walk into La Mártola, the movie “Heaven Can Wait” comes to mind. Everything feels light and radiant and, well, white. The walls, the ceiling, the curtains – everything except the blonde wood of the chairs and side panels of the bar is white. Even the floors are an off-white beige, and the wait staff dresses in white linen.

For the summer months in Miami, this feeling is just what you want, a relief from the harsh heat. With its brightly painted, exposed ductwork overhead, it feels a little like a Soho loft reinvented into a luminous space. And the ambiance is mirrored by the menu, filled with light ‘European Riviera’ dishes that are simply prepared from fresh ingredients, some locally sourced and others imported from the coastal areas of the old world. No heavy spices are used here, only a variety of olive oils, different types of gourmet salts, and citrus.

Part of the culinary magic here is the use of wood for cooking – both for their pizza oven and for grilling their meats and vegetables. To get a sense of what that means, we sampled their Florida Vegetables – red and orange bell peppers, zucchini, onions, and eggplant straight from the farm. These were wood grilled with Sicilian extra virgin olive oil, mint, and oregano, and served with tahini and dill cream. Simple and wonderful. Equally fresh and tasty was their Frisée Salad, comprised of locally grown frisée lettuce enhanced by free-range poached eggs, Roquefort cheese, croutons, hazelnuts, duck lardons (bacon bits) and, in this case, Tuscan EVO.

At the other end of the sourcing spectrum are their dishes that use scampi and orata (bream fish) from the Mediterranean, and meats from the renowned Linz Heritage ranch in Oklahoma. We sampled an orta crudo bathed in lemon and Ligurian EVO, dressed with sprigs of arugula, laces of red onion, chopped baby tomatoes, and black taggiasca olives from the same Ligurian region of Italy as

TOP LEFT: THE MAGIC AT LA MÁRTOLA STARTS WITH THE WOOD-FIRED OVEN AND GRILL.

TOP: PARTNER PAOLO DOMENEGHETTI

ABOVE: THE BLONDE INTERIOR CREATES "A SPACE THAT INSPIRES THE ART OF SAVORING LIFE."

OPPOSITE PAGE:

TOP LEFT: WOOD GRILLED FLORIDA VEGETABLES.

BOTTOM LEFT: FRISÉE SALAD OF LOCAL PRODUCE.

TOP RIGHT: ORTA CRUDO MADE WITH BREAM FISH.

CENTER RIGHT: LINZ FARM GRASS-FED LAMB CHOPS.

BOTTOM RIGHT: "LA FILIALE" NEOPOLITAN PIZZA.

the olive oil. Exquisite, as were the grass-fed lamb chops from the Linz farm. We did not try the Fiorentina steak – a little steep at $220, even if it fed two.

The surprise on the menu was the array of excellent Neopolitan pizzas, a tribute to La Filiale, the restaurant in Erbusco, Italy, owned by La Mártola partner/investor Martino de Rosa. A tad pricey for their size ($22-$32) they are nonetheless as good as it gets in the world of pizzas, with an amazingly flavorful crust made from unprocessed Italian flour they let “rise” for 72 hours before baking.

To accompany such light cuisine we ordered a bottle of white Simonnet Febvre Saint-Bris de Sauvignon, from their expansive wine list. A French wine from Burgundy, it was not expensive and perfectly infused with notes of citrus, grapefruit, and lemon. “Everything here

is very clean, very light,” manager Ahmed Roushdi explained. “We don’t use any butter or garlic or heavy spices, just different olive oils and salts… and the flour is shipped in every week from Italy.”

In addition to the main dining area, there is an outdoor terrace with its own bar. Lovely as it was, we preferred the cool interior, leaving the terrace for Miami’s winter months. We also liked the fact that, unless you know that Màrtola is located on the perimeter of the Design District, you won’t just stumble across it. It is a hidden gem on the edge of the Buena Vista neighborhood, not heavily trafficked. Paolo Domeneghetti, the New York food impresario who is de Rosa’s partner here, says La Màrtola provides “a space that inspires the art of savoring life.” By the time we reached their dessert gelato, we were in complete agreement. l

Sky Dining

TULUM, THE NEW RESTAURANT ATOP BRICKELL’S W HOTEL, TAKES LUNCH TO NEW HEIGHTS

BY ANDREW GAYLE • PHOTOS BY RODOLFO BENITEZ

If it’s time to impress a client or colleague with a refreshing new venue with a spectacular view, it would be hard to beat Tulum, the new restaurant atop the W Hotel in the Icon building on Brickell at the Miami River bridge. Designed with earth tones reminiscent of its namesake flagship in Doha, Qatar, Tulum tips its culinary hat to the Mexican city that once thrived as a resort destination for the Mayan elite.

The menu is an eclectic mix of dishes that range from Mexicanleaning cuisine like tacos with marinated skirt steak ($22), nachos with guacamole ($20), and crispy grilled octopus with chimichurri ($24) to selections that have no apparent connection to Latin America. But it’s these outliers that make Tulum an interesting place to eat.

We tried the Tulum Beast Burger ($29), a toothsome blend of bison, elk, wild boar, and wagyu beef, with demi-glace mushrooms and grilled queso fresco. We also tried and loved the aji chicken sandwich ($22) with buttermilk fried chicken, roasted tomato gremolata slaw, and aji aioli on a brioche bun. An excellent combination of crunchy, juicy chicken with a tangy sauce that held a perfect hint of heat.

We also tried dishes that had more of a Mediterranean vibe, like lightly fried olives ($11), a first for us, and a cucumber, tomato, and goat cheese salad that may as well have come from the Aegean islands. Our favorite was the “Dirty Blue” salad ($16), that augmented its garden greens with blue cheese, black cherries, candied

walnuts, cherry tomatoes, and brined olives. To this we added the seared catch of the day for a hearty meal.

What makes the food at Tulum taste even better is the setting. With seating both inside and out, including at a long, sleek bar, diners have stunning views from the 15th floor of the W Hotel – itself easy to access by foot from Brickell Avenue. The interior is replete with tropical plants and floor to ceiling windows – and vistas that stretch across Biscayne Bay, as well as over the tops of, and through, neighboring high rises. The service is also warm and attentive, completing a perfect package for midday dining. l

LEFT:

TULUM ROOFTOP BAR & RESTAURANT

TOP LEFT: OUR SERVER CAT

TOP: TULUM BEAST BURGER

MIDDLE: FRIED CHICKEN SANDWICH

BOTTOM: DIRTY BLUE SALAD

SKY VIEW FROM THE 15TH FLOOR

Fine Dining in Global Miami

There is no better way to appreciate the quality of a world class city than through its cuisine. Miami has a dynamic and growing culinary seen, propelled in part by its multi-cultural community. What follows is a selection of fine dining establishments in Brickell, Downtown Miami, Wynwood, the Design District, Coconut Grove and Coral Gables.

BRICKELL

ADRIFT MARE

Located on the 25th Floor of Hotel AKA Brickell, Adrift Mare’s first ‘wow’ factor is the excellent view of the city and Biscayne Bay beyond. The second ‘wow’ is the atrium setting that rises another ten floors upward. The menu is by Michelin-starred restaurateur David Myers, known as the “Gypsy Chef”: Skewered kabbobs, grilled king prawns, and a show-stopper charcoal-grilled whole branzino, deboned and served with head and tail. 1395 Brickell Ave., 25th Floor. 305.503.6529

KAORI

Modern Asian-inspired menu of highly original, complex, ingredient-driven dishes in a clean setting of wooden tables, chairs, and booths. Bento boxes, a raw bar, udon noodles, and Korean fried chicken populate a relatively small but inventive menu. Impressive cocktail bar.

871 S. Miami Ave. 786.878.4493

LA MAR

High-end Peruvian seafood restaurant with great views of the Brickell skyline from the outdoor patio. Chef Gastón Acurio won a Michelin star for his creative dishes, including ceviche with local snapper, grouper, and cod. Recommended: the conchitas a la parmesana, grilled jumbo mollusks served in a large scallop shell in a creamy parmesan base.

Modern and lively without being overbearing. 500 Bickell Key Dr. (Mandarin Oriental Hotel) 305.913.8288

NAOE

One of the most expensive meals in town at $280 per person before beverages are served. High-end Japanese with 10 weekly seatings in an intimate space. Received the Forbes Travel Guide Five Star Award and AAA Five-Diamond Designation. 661 Brickell Key Dr. 305.947.6263

NUSR-ET

The Miami edition of the global sensation of Nusret Gökçe, whose special use of salt brings out the best in his mustard-marinated Wagyu steaks, some of the most tender you’ll ever taste. All cuts are cooked on a charcoal grill, using Mexican charcoal because it generates more heat than other coal. While the steaks are expensive ($170 for 14 ounces), the stunningly good salads ($21-23) make up for that. 999 Brickell Ave. 305.415.9990

PM BUENOS AIRES FISH AND STEAK HOUSE

Located in a cavernous space on the edge of the Brickell District, with walls of red brick, exposed duct works, and heavy wooden floors. The idea here is porteño authenticity, “the best of argentine gastronomy,” expressed in homemade chorizo sausages, empanadas, beef bouillon, and charcoal-grilled

provoleta cheese. Good steaks, plenty of fish, impeccable service, and reasonable prices – plus a great selection of Argentine wines. 1453 South Miami Ave. 305.200.5606

TRULUCK’S

One of the oldest restaurants in Miami’s Brickell financial district, with a setting as elegant as its food and service. Specializing in seafood, Chef Odel Arencibia prepares lobster tails from South Africa, king crab legs from Alaska, branzino from the Mediterranean, sea scallops from the New England coast, and giant prawns from Nigeria. 777 Brickell Ave. 305.579.0035

QUINTO

On the fifth floor of the East Hotel, with a large, lush outdoor terrace that takes you far away from one of the busiest neighborhoods in Miami. The culinary focus is South American dishes with a Mexican veneer, in the best possible way – refined, inventive, multi-layered. Chef Ivan Uria uses a wood fire to add flavor. 788 Brickell Plaza (EAST Miami). 786.805.4646

ZERU

Zeru Miami is the third iteration of the restaurant born in 2009 Mexico City, where it’s rated as a top dining spots in that cuisine-mad city. While its creators are Mexican, their families come from the Basque region of Spain (as well as the neighboring province of Asturias) and that is the focus of Zeru Miami – a refreshingly different palate derived from the seafood of the North Atlantic and the produce of Northwestern Spain. 1395 Brickell Ave. 786.809.1395

DOWNTOWN

BRASSERIE LAUREL

Chef/owner Michael Beltran’s hip French entry into the downtown eating scene. Exquisite modern French cuisine in a modern yet cozy setting in the midst of the new Miami WorldCenter. Lobster in a bisque served with veal sweetbreads, venison with a sauce au poivre, escargot served in puff pastry, with a signature boeuf en croûte. 698 NE First Ave. 305.330.9048

IL GABBIANO

Northern Italian cuisine with stunning views of the Biscayne Bay, PortMiami, and Brickell Key. Located at the base of Biscayne Boulevard on the Miami Riverwalk. Impressive selection of pastas, risottos, and 12 veal dishes. 335 S. Biscayne Blvd. 305.373.0063

TRULUCK’S

KLAW

From another era in time, a restored 1920s gem of woodwork and high ceilings in the top floor of the old Miami Women’s Club, on the water behind the Omni/Hilton on Biscayne Blvd. High-quality American surf and turf in a large, upscale setting. 1737 N. Bayshore Dr. 305.239.2523

TORO TORO

InterContinental Miami’s premiere lunch and dinner restaurant, Toro Toro (reservations recommended), is led by Chef Richard Sandoval and features a pan-Latin cuisine, heavy on Peruvian with ceviches and tiradito, although the real highlight is their steaks. The traditional Peruvian lomo saltado is the best choice for a specialty entrée.

100 Chopin Plaza (Intercontinental Miami) 305.577.1000

ZUMA

Modern Japanese cuisine from Chef Rainer Becker, the 2010 flagship of what is now a global brand. Chic and minimalist interior with a modernized version of Japanese izakaya – dishes meant to be shared. Nigiri, sashimi, sushi rolls, and three different omakase menus.

270 Biscayne Blvd. (Kimpton Epic Hotel) 305.577.0277

WYNWOOD

MARYGOLD’S BRASSERIE

Chef Brad Kilgore is the talent behind this trendy Florida-inspired showcase for modern American cuisine. Distinctive dishes like oxtail beignets and ricotta “pillows” are both toothsome and strange and further elevated by sides like delicately flavored spun potatoes. 2217 NW Miami Ct. 786.522.6601

PASTIS

Originally from New York, this critically acclaimed Parisian bistro serves up classic French cuisine in a stylish yet comfortable setting. A unique but limited “midday menu” (served between lunch and dinner) plays on the more expansive lunch and dinner offerings, which range from escargot to steak au poivre to French onion soup.

380 NW 26th St. 305.686.3050

RISHTEDAR

Rishtedar’s location in Miami is the restaurant’s fourth – and the only one not in Latin America. Walking into Rishtedar from the chaos of Wynwood, Miami’s enclave for artists and entrepreneurs, is like stepping into an oasis of calm – and one that is decked out like a restaurant in Mumbai. Their famous butter chicken is an instant classic, juicy and well-flavored. More interesting is the lobster masala, which features coconut and South Indian flavorings. 232 SW 24th St. Miami 305.799.0724

DESIGN DISTRICT

COTE MIAMI

COTE’s golden-hued dining room in the midst of Miami’s Design District is expansive, lined with comfortable black leather booths and tables inset with golden Shinpo grills, the focus of COTE’s culinary experience: Korean barbecue cooked at each table. The Butcher’s Feast is the highlight, tailored for a power lunch, and second only to the Steak Omakase Grand Tour. 3900 NE 2nd Ave. 305.434.4668

LA MÁRTOLA

When you first walk into La Mártola, the movie “Heaven Can Wait” comes to mind. Everything feels light and radiant and white. For the heat in Miami, this feeling is just what you want. The menu is filled with light ‘European Riviera’ dishes simply prepared from fresh ingredients. No heavy spices are used here, only a variety of olive oils, different types of gourmet salts, and citrus. 4702 NE 2nd Ave. 786.953.7577

SUGAR CANE

Sugarcane is actually a few blocks south of the Design District, but worth the jog to sit outside in the modern “Sim City” neighborhood of Midtown. The menu centers mostly on the raw bar and sushi rolls, with a cocktail menu built from rum. The Hokkaido Scallop is a masterclass in contrasting flavors with black truffle, lime, jalapeño, and apple marinated in yuzu juice. Our favorite: the duck & waffle dish. 3252 NE 1st Ave., Miami. 786.369.0353

TABLÉ BY BACHOUR

The beautiful new Design District restaurant from pastry impresario/restaurateur Antonio

COTE MIAMI

Bachour opened in March 2023. The talented chef’s most ambitious venture to date, with a stand-alone bakery counter with togo offerings of the chef’s Instagram-worthy desserts. Tuna tartare, lamb meatballs, crispy Spanish octopus, miso-roasted salmon. 180 NE 40th St. 786.842.0551

COCONUT GROVE

AMAL

Mediterranean food in a an airy and lightfilled space with a focus on Lebanese cuisine. Inviting ambiance with a nod to Old World arabesque charm, though reimagined with bright and modern tones. Mezzes, pita, hummus, etc., peppered with traditional Lebanese spices and coastal flavors. 3480 Main Hwy. 786.369.0846

BELLINI

A European-style hideaway on top of the Mr. C Miami hotel, with views of Biscayne Bay and the Grove’s skyline. Italian menu inspired by the founder of Harrys’ Bar in Venice, the great-grandfather of the hotel owners. Recommended: the translucent langoustine carpaccio to start, followed by the pesce del giorno, a whole Dover sole. 2988 McFarland Rd. (Mr. C Miami) 305.800.7672 $$$$

REGATTA GROVE

An open-air, waterfront gathering spot that is relaxed and fun. The culinary lineup is like something out of a foodie’s daydream, with three James Beard semi-finalists (Chefs Jose Mendin, Jeff McInnis, and Janine Booth), one Michelin-starred chef (Jeremy Ford), and one Top Chef finalist (Kenny Gilbert). Together, the five have set up small, openair eateries at Regatta, operating out of

CORAL GABLES

ERBA

If the trifecta of a superb restaurant is a combination of cuisine, ambience, and service, then Erba at the LifeTime building on U.S. 1 hits it out of the park. That was the conclusion of Esquire magazine, which named Erba one of the “50 Best New Restaurants in America 2023.” Known for his previous creations of Ghee, Orno, and Mamey, Chef Niven Patel now takes on Italian, with an exquisite journey into new taste sensations. 227 S Dixie Hwy. 305.712.7788

ZUCCA

They will tell you they serve “continental” fusion cuisine, and yes there is a touch of French and Spanish cooking here. But the

chicken Florentine, Ravioli aragosta, ravioli zucca, golden calamari and veal ossobuco say otherwise. Well prepared dishes in a quiet setting make this Power Lunch Central in Coral Gables.

162 Alcazar Ave. (Hotel St. Michel) 786.580.3731

MESA MAR

The place in town for pescatarians, where the fish is flown or driven in from the nearby Florida Keys or the Caribbean. Chef Lilia Molina’s commitment to freshness is evident here based on the quality of the food and the fact that the restaurant receives shipments four times a week – meaning that nothing is ever more than a day old.

264 Giralda Ave. 305.640.8448

TULLIO

Perhaps the best fine dining experience in Coral Gables. Elegantly presented Italian cuisine from northern Italy, with a focus on Venetian dishes and seafood. Cinematic-level service with many dishes prepared table-side, especially the whole branzino. Unique seafood options like fully intact prawns and pan-seared octopus with chickpea puree, plus delicious homemade gelato.

160 Andalusia Ave. 305.926.4208

TUR

Mediterranean cuisine carried to new heights by Chef Christian Chirino, who plates each dish with exquisite care. Amazing pork loin offered both for dinner and as a smaller portion on the $39 executive lunch menu, plus delicately flavored ice creams and sorbets unlike any other. Flavors here range from Middle Eastern to Spanish – but everything is delicious. 259 Giralda Ave. 786.483.8014 l

refurbished TEU containers that surround a playful green area set up with picnic tables. 3415 Pan American Drive.

ERBA

TULLIO

A Middle Eastern Link

DUBAI, CITY OF THE FUTURE, IS DEEPENING BUSINESS TIES WITH MIAMI AND FLORIDA

BY ANTONIO ACUNZO

Antonio Acunzo is CEO Co-founder of MTW GROUP-Doing Business

Beyond, an international business advisory company based in Miami and working with SMEs and Mid-Market companies looking to expand in the U.S.A. and select Asian markets.

When Miami Mayor Francis Suarez’ visited Dubai in March 2022, he signed a sister city agreement with HE Abdulla Al Basti, Secretary- General of The Executive Council of Dubai, strengthening business and trade ties between two of the world’s leading global hubs. In 2023 the British weekly magazine The Economist ranked Dubai #3 in the Top 10 Index of Prominent Global Cities, with Miami crowned #1, and Singapore #2.

Today Dubai and Miami are deepening their business, trade, and investments ties, with both cities vying to create a model city of the future that grows, develops, and expands as an urban prototype of excellence.

Dubai has long been considered a city of the future for its ultramodern skyline, its iconic architecture (Burj Khalifa is the tallest skyscraper in the world), the super functional Dubai International Airport (DXB), the new mega-airport Al Maktoum International in Dubai World Central (DWC), and Palm Jumeirah, an archipelago of artificial islands with high-end residences.

Oil today represents only 1 percent of Dubai’s GDP compared to more than 50 percent prior to 2000, replaced with tourism, real estate, business parks, and special economic zones which offer incentives for companies that focus on areas such as biotechnology, space, AI, robotics, desalination, genetic research, medical tourism, the future of farming, and renewable energy. Dubai, the most populous of the 7 emirates that make up the UAE, is a melting pot of over 200 nationalities. In 2023, the Global Destination Cities Index placed Dubai 2nd among the cities with the highest number of international visitors (15.9 million), second only to Paris (22.7 million).

The most recent report (2021) issued by the UAE Embassy in Washington, DC, highlighting trade between the U.S. and the UAE ranked Florida 6th among U.S. states and territories in exports to the

UAE. Computers, electronic products, and transportation equipment were the largest export categories, followed by chemicals, primary metal, machinery, F&B, tobacco, and fabricated metal products. The report also stated that more than 8,700 jobs were directly created by trade with UAE.

In terms of FDI, Emirati companies in Florida invested in a variety of sectors including transportation (Jetex Flight Support), aerospace (Titan Aviation StandardAero), software & IT services (SmartStream Technologies, Distichain, Icflix), real estate (Sternnon Group), consumer products (Harding Brothers Holdings), food & tobacco (Hot Brands International), business services (Palm Aviation), and leisure & entertainment (Tussauds Group).

Trade between Dubai and the UAE, and Miami and Florida, is also accelerating; UAE is now Florida’s largest trade partner in the Middle East. For South Florida (Miami Customs District), total trade with the UAE reached $1.3 billion in 2023, up from $982M in 2022, split between $1.12B in exports and $198M in imports.

Miami’s trade with Dubai is a twoway street with huge potential: Dubai is the strategic entry point to the MENA region (Middle East North Africa) and the preferred gateway to markets in South Asia (India, Pakistan, Bangladesh), while Miami is the strategic entry point to the U.S. market and the preferred gateway to markets in Latin America and the Caribbean. In this context, it is important to note that it’s now possible for foreign investors and entrepreneurs who open a company in Dubai (or in the other six emirates of the UAE) to retain 100 percent of ownership and operate freely throughout the UAE.

Miami is connected to Dubai by a daily non-stop flight operated by Emirates. Like Miami, Dubai is a “hub and spoke” model connecting 11 U.S. airports to airports across Asia, Europe, and the Middle East. The daily Emirates flight from Dubai to Miami now continues to Bogota as a tag-on. This new flight provides another link for UAE investors considering Miami as the strategic springboard for business and trade with nearby Latin American markets. l