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Export Expansion


  • Submitted on 18 June 2014

    Created on June 18, 2014
     

    This post is part of the global blog series the Minority Business Development Agency (MBDA) started during World Trade Month.

    George Mui is the Access to Markets team lead in MBDA’s Office of Business Development.

    Bogota, Colombia CityviewThe U.S. Department of Commerce, through its Look South campaign, helps U.S. exporters to expand their markets and identify new opportunities in Latin America. U.S. goods exports to Peru, Panama, Mexico, and Colombia have increased every year since 2009. As we celebrate the second year anniversary of the U.S.-Colombia Free Trade Agreement more American companies are exporting goods and services to Colombia, the vast majority of which are duty-free. The U.S.-Colombia Free Trade Agreement is just one of the 11 free trade agreements between the United States and Latin American countries.

    That’s why MBDA San Antonio Business Center director Orestes Hubbard and MBDA Global Business Center project manager David Leister visited Colombia along with an MBDA Global Business Center client, Carlos Silva, CEO of USATEQ, a Colombian native.

    MBDA San Antonio director Orestes Hubbard shared his experience with George Mui, MBDA’s Access to Markets team lead in the Office of Business Development.

    Mui: Why did you choose to travel to Colombia?

    Hubbard: Colombia has a very advantageous geography and is roughly twice the size of the state of Texas – where I live. Colombia is also the only country in South America with access to both the Atlantic and Pacific Oceans and has long had good diplomatic and trade relations with the United States.

  • Submitted on 02 June 2014

    Created on June 2, 2014
     

    This post originally appeared on the Tradeology, the ITA Blog

    John Larsen is the Deputy Director of the Trade Promotion Coordinating Committee Secretariat.

    The Look South campaign is encouraging companies to seek export opportunities in Latin America.Department of Commerce data show that U.S. goods and services exports set a record for the fourth consecutive year, reaching $2.3 trillion in 2013.

    U.S. companies that export to our 11 free trade agreement partner countries in Latin America played a major role in this success. Through the Look South campaign, federal trade-promotion agencies hope to help more companies find success by taking advantage of these free trade agreements.

    In 2013, U.S. goods exports to Look South markets increased $12.5 billion to $312.6 billion – more than double the 1.7 percent rate of growth for goods exports to the rest of the world.

    This isn’t just a blip; we see a clear growth trend as market liberalization, growing middle class consumption, and diversifying industrialization by Latin American markets fuels healthy economic growth and import demand.

    As U.S. exporters respond, the Look South markets’ share of total U.S. goods exports has steadily grown from 17 percent in 2009 to 20 percent in 2013.

  • Submitted on 20 May 2014

    Created on May 20, 2014
     

    This post originally appeared on the Commerce.gov Blog

    Warehouse - ExportingAt the Department of Commerce and the Minority Business Development Agency we are dedicated to helping more minority-owned business leverage their competitive advantage and expand their business through exports. The most recent data from the U.S. Census Bureau reveals how minority-owned firms employ nearly six million American workers and contribute one trillion dollars in annual economic output to the U.S. economy. This economic output includes significant exporting contributions. In fact, minority-owned firms are export leaders in 14 key industry sectors.

    To celebrate World Trade Month we are kicking off a blog series to highlight valuable resources and information for minority businesses looking at exporting for the first time and firms looking to expand their existing exporting efforts. 

    Here are six steps to start exporting:

    Complete an export readiness self-assessment: Find out if you have what it takes to market your products or services into the global marketplace. Provide answers to nine questions and receive advice on your exporting potential.

    Training and counseling: use online resources like webinars and training courses to learn the basics of exporting and increase your understanding of the exporting process. Access webinars and online courses from the International Trade Agency (ITA), U.S. Census Bureau Go Global Webinars, and the Small Business Administration (SBA).

  • Submitted on 14 May 2014

    Created on May 14, 2014
     

    This post originally appeared on the Tradeology, the ITA Blog

    NEI NextSecretary Penny Pritzker announced NEI/NEXT – a data-based, customer service-driven initiative to ensure that more American businesses can fully capitalize on markets that are opening up around the world. Through five core objectives, NEI/NEXT will build on Administration-wide achievements under the National Export Initiative (NEI), to help all businesses reach the 95 percent of consumers who live outside the United States.

    Under the NEI, the United States has had four straight record-breaking years of exports – hitting an all-time high of $2.3 trillion dollars last year – up $700 billion from 2009. The NEI has been instrumental in strengthening high-level commercial advocacy on behalf of U.S. companies, increasing small business participation in trade events, partnering with regions to develop export plans, expanding strategic partnerships to promote exports,  implementing our trade agreements, enforcing U.S. trade rights, and driving the most ambitious trade agenda in a generation.

    In a new economic report released today by the Department of Commerce, data shows that nearly one-third of the country’s economic growth since mid-2009 has been driven by exports. Nearly 30,000 businesses have started exporting for the first time. And most importantly, since 2009, the number of jobs supported by exports has grown by 1.6 million to more than 11.3 million – the highest in 20 years.

  • Submitted on 05 May 2014

     

    Created on May 5, 2014
     

    This post originally appeared on International Trade Administration Tradeology blog.

    World Trade MonthHappy World Trade Month!

    For years, May has been the time to not only recognize the benefits of international trade, but also for organizations around the country to support more American companies competing overseas.

    For the United States, the benefits of trade have been great, as have our successes. We recently announced that for the fourth straight year, the United States set a record for annual exports in 2013, at $2.3 trillion. That is a 40 percent growth in total exports since 2009.

    Behind those exports are millions of well-paying American jobs – a record 11.3 million jobs to be exact. That number is an increase of 1.6 million from 2009.

    As more American businesses compete and succeed in the global marketplace, the entire national economy reaps benefit.

    Around the country, state and local governments, nonprofit organizations, and private sector entities are supporting events to help more American companies engage in the global marketplace. We tip our hat to every organization throughout the country that is supporting world trade events this month and all year long.

  • Submitted on 25 April 2014

    Created on April 25, 2014
     

    This post originally appeared on International Trade Administration Tradeology blog.

    Diana Alvarez recently completed an internship in the International Trade Administration’s Office of South America.

    Look South Logo with CountriesThe Look South campaign is encouraging companies to seek export opportunities in Latin America.

    More than 40 percent of current U.S. exports go to Mexico, Central America, and South America. Both its geographic proximity and the presence of 11 free trade agreements in the region make these markets attractive for U.S. businesses.

    As the U.S. government continues to support businesses expanding in Latin America through the Look South Initiative, one key aspect being addresses is working through potential barriers to trade.

    Issues like long customs-clearance times, inconsistent interpretation of customs regulations, and subjectivity of customs inspectors can add to the time and cost of the exporting process. These costs can especially affect small business exporters.

    To address these problems, the International Trade Administration is working alongside U.S. Customs and Border Protection, governments across Latin America, and other public and private sector partners on the Customs Modernization and Border Management Reform Program.

    This program brings business and government together to discuss the challenges faced at the border and to develop solutions that will make clearing customs easier, faster, and more efficient.

  • Submitted on 22 April 2014

    Created on April 22, 2014
     

    Energy for Africa 600 million people, 70% of the population of sub-Saharan Africa are without electricity.With its fast-growing middle class and tremendous human, agricultural, and mineral resources, the continent of Africa is attracting investors and businesses from all around the world. Home to seven of the world’s ten fastest-growing economies, Sub-Saharan Africa outpaces global average growth. That is why, in 2012, President Obama launched the Presidential Policy Directive (PPD) on Sub-Saharan Africa, now known as the U.S. Strategy Toward Sub-Saharan Africa. The Strategy recognizes that Africa holds the promise to be “the world’s next major economic success story,” and the Commerce Department is working help businesses be part of that success story by promoting U.S. trade and investment through the Doing Business in Africa (DBIA) campaign.

    Today, the Commerce Department’s Minority Business Development Agency’s (MBDA), Miami MBDA Business Center hosted the Power Africa B2B Summit to promote the public-private partnership model envisioned by President Obama’s Power Africa Initiative. President Obama announced Power Africa last year as an initiative to double the number of people with access to power in Sub-Saharan Africa, where 600 million people lack access to electricity. The United States is investing more than $7 billion in this effort.

  • Submitted on 10 April 2014

    Created on April 10, 2014
     

    Vinai Thummalapally, Executive Director, SelectUSAThis month, SelectUSA is really upping our game when it comes to online engagement around investment. We hope you’ll join the conversation on Twitter at #SelectUSA!

    Our colleagues across the Commerce Department will be sharing their thoughts on how innovation, data and hard work contribute to job creation. We’re collaborating with our friends at the State Department’s Economic & Business Affairs Bureau, as well as with our Commerce and State colleagues throughout the United States and globally at our embassies and consulates.

    But we’re not stopping with Commerce and State. We’re reaching out across the U.S. federal government through the Interagency Investment Working Group (IIWG), to more than twenty other agencies. (You can find all of our Commerce and IIWG twitter profiles here.)

  • Submitted on 04 April 2014

    Created on April 4, 2014
     

    This post originally appeared on International Trade Administration Tradeology blog.

    Ken Mouradian is the Director of the International Trade Administration’s Export Assistance Center in Orlando.

    IBP Trade ShowOur team can help you maximize export opportunities at trade shows.

    You’re walking the floor at a major trade show and, glancing to your right, you see two people seated deep in their booth checking e-mails on their phones. This closed off demeanor wastes two precious resources their company invested on this show, time and money. To get the best possible return on investment from your next trade show, here are six simple suggestions that don’t cost much money and will attract traffic to just about any booth.

    1. Stand. Believe it or not, you seem more open to engagement if you’re standing, smiling, and looking at people as they pass.  By contrast, people are reluctant to distract you when you appear busy by sitting.

    2. Stage a conversation. If there are two of you in your booth, make it appear that one of you is learning about your company from the other.  Believe it or not, people will look at something if someone else is looking; and for no better reason than that.  This works less effectively if you’re wearing clothing that brands you as working for the same company or if you’re exhibiting alone.

  • Submitted on 28 March 2014

    Created on March 28, 2014
     

    Reverse Trade Missions bring foreign buyers to the United States, pending an upcoming procurement, in order to observe the design, manufacture, demonstration and operation of U.S. products and services that can help them achieve their development goals. These strategically planned missions also present excellent opportunities for U.S. businesses to establish or enhance relationships with prospective overseas customers.

    In 2013 USTDA funded 24 reverse trade missions that introduced U.S. company representatives to key foreign decision-makers, including senior governmental and private sector officials from high-growth markets. The reverse trade mssions target current and near-team business opportunies, often creating immediate results and export successes for U.S. businesses.

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