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Export Expansion


  • Submitted on 24 February 2014

    Created on February 24, 2014
     

    Western HemisphereAre you a minority business enterprise? Look south for your next customer! Secretary of Commerce Penny Pritzker announced the Look South initiative in January. The initiative is a U.S. Commerce Department-led, federal effort to encourage entrepreneurs like you to do business with our Free Trade Agreement (FTA) partners in Latin America. The 11 FTA economies are Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, and Peru.

    Minority business enterprises have great opportunities in looking south for their next customer, since MBEs are more likely than non-minority-owned firms to export, five times more likely to conduct business in languages other than English, and typically possess cultural knowledge and business acumen that enables breaking into the global market more efficiently and effectively.

    That is why the Minority Business Development Agency (MBDA), in collaboration with the International Trade Administration (ITA) and other federal agencies, are working to encourage greater export activity among the nation’s 5.8 million minority-owned and managed firms. Through nationwide MBDA Business Centers and ITA’s U.S. Export Assistance Centers, minority-owned firms have access to financing, market analysis, technical assistance and other services to help expand their reach.

  • Submitted on 05 February 2014

    Created on February 7, 2014
     

    This post originally appeared on International Trade Administration Tradeology blog.

    Moshtayeen Ahmad recently completed an internship in the International Trade Administration’s Office for Export Policy, Promotion, and Strategy.

    Young PeopleFavorable market trends in Latin America make the region an excellent potential market for your business’s products and services. These countries all enjoy open and regionally integrated economies and growing middle classes.

    That’s why Commerce Secretary Pritzker is in Mexico on a business development mission – Mexico can be a great destination for your products and services, and a launching pad into more markets in the region.

    The Department of Commerce’s Look South campaign is helping even more U.S. companies enter these markets and identify new opportunities in high demand industries.

    Bilateral trade data shows that there is tremendous unmet potential for diversifying U.S. exports to Latin America. These countries are rapidly modernizing their industries and broadening their consumer base.

    For small and medium-sized businesses (SMEs), there are many opportunities in sectors where U.S. goods and services are highly desired. Some are highlighted in our most recent Country Commercial Guides, including medical equipment, agricultural equipment, franchising, and environmental technologies. SMEs have the opportunity to become globally competitive in many of these industries, but often are the least likely to be aware of opportunities beyond Mexico.

  • Submitted on 04 February 2014

    Created on February 4, 2014
     

    City life in ChinaThis post originally appeared on Census Global Reach Blog.

    Specialists from the Commercial Service can help you overcome challenges in the market and reach specific goals. Below are some tidbits of knowledge that stemmed from last year’s American Association of Clinical Chemistry (AACC) tradeshow in Houston, Texas. Three Commercial Specialists from Beijing, Chengdu, and Guangzhou participated in the USDOC’s Showtime Program. They met one-on-one with U.S exhibitors at the show and discussed each company’s unique challenges and goals in these diverse regions of China.

    Below are some things to keep in mind when trading with China.

  • Submitted on 04 February 2014

    Created on February 4, 2014
     

    Hannover Messe, Select USA and U.S. Commercial Service

    For the fifth consecutive year, the U.S. Commercial Service’s Select USA team will organize the USA Investment Center at the world’s largest industrial technology show, the Hannover Fair, April 7-11, 2014. The USA Investment Center is a joint pavilion of the federal SelectUSA Program and participating Economic Development Organizations from U.S. states, cities and regions. The USA Investment Center promotes the United States as the premier global business location to over 6000 industry exhibitors and 200,000 trade visitors. It offers EDOs a cost effective turn key package of meeting space, joint marketing and promotion as well as individualized support to maximize business development and recruitment efforts of U.S. EDOs. Here are just some of the benefits of participation:

  • Submitted on 30 January 2014

    Created on January 30, 2014
     

    In May 2013 ERD LTD received the Export Achievement Award while repairing industrial electronic equipment for companies around the world.This post originally appeared on International Trade Administration Tradeology blog.

    Doug Barry is a Senior International Trade Specialist in the International Trade Administration’s Global Knowledge Center. 

    ERD Limited is a North Carolina-based company that has seen its number of export markets more than quintuple in less than three years. In that time span, its revenues from global sales went from four percent of total revenue to 25 percent.

    Tom Robinson of ERD Limited sat down with ITA’s Doug Barry to discuss how his company expanded to so many export markets with support from the International Trade Administration and other government partners.

    Barry: Describe your company. How did it start?

    Robinson: ERD Limited is an electronic repair facility. It is engineer-owned and operated. We have been in business for about 20 years in Kernersville, NC. We’re different from our competitors in that we do what we call high-level electronic repairs, of all types and varieties, on basic boards to sophisticated robotics. We deal in what’s called “legacy electronics.”

  • Submitted on 30 January 2014

    Created on January 30, 2014
     

    Cargo with ContainersCaribbean Trade Mission & Business Development Conference to Dominican Republic, Haiti, Jamaica, Bahamas, Barbados and Trinidad and Tobago. Caribbean regional conference followed by one-on-one business appointments with pre-screened potential buyers, agents, distributors, joint-venture partners or other key contacts.

    Mission Dates:  June 8-12, 2014
    Registration Deadline:  April 4, 2014
    Registration Link: http://export.gov/tradeamericas/tradeevents/trademissions/caribbeanjune2014/index.asp

    Caribbean Region Webinar Series

    This six-part webinar series will provide valuable insights to new and experienced exporters who will gain knowledge of the export opportunities in this dynamic region. Companies will learn about the best prospects, financial and legal considerations and marketing strategies in the Caribbean Region to include Dominican Republic, Haiti, Jamaica, Bahamas, Barbados and Trinidad and Tobago.

  • Submitted on 24 January 2014

    Created on January 24, 2014
     

    National Export Initiative Connects Businesses with World Markets

    World Map and ChartsDid you know that according to the latest U.S. Census Bureau data, minority-owned firms are twice as likely to export as other U.S.-owned businesses? The data indicates that minority-owned firms are best positioned to succeed and expand in the growing global economy. With 95 percent of the world’s consumers outside of the United States, exporting enables businesses to boost their bottom line while building their international competitiveness. For many U.S. firms, international diversification has enabled them to weather changes in the economy much better than if they had been selling only in their backyard.

    That said, many more minority-owned firms could be exporting more. Many business owners that I meet don’t export, in part because they believe exporting is too burdensome, or they’re unaware of the various resources available to assist them. However, expanding your business through exporting is more viable today than ever before. If you have a good track record of selling in the United States, one of the most open and competitive markets in the world, you are likely a good candidate to make overseas sales.

    In 2010, President Obama launched the National Export Initiative (NEI),aimed at expanding federal government-wide efforts to assist exporters while supporting millions of U.S. jobs.  These efforts have helped contribute to record U.S. exports culminating in an all-time high of $2.2 trillion in 2012. As a result of the NEI, more and more businesses are taking advantage of key export tools and resources to expand their global market share.

  • Submitted on 13 January 2014

    Created on January 13, 2014
     

    Look South LogoDuring President Barack Obama’s Weekly Address, he expressed that, “Latin America represents an incredible opportunity for the United States, especially when it comes to my top priority as President: creating good, middle-class jobs… Right now, over 40 percent of our exports go to the Americas.”

    As part of the Obama administration’s continued work to promote exports and strengthen the U.S. economy, U.S. Secretary of Commerce Penny Pritzker unveiled "Look South,” a new initiative aimed specifically at increasing U.S. trade with Latin American economies with whom the U.S. has free trade agreements (FTA).

    Look South is part of the Commerce Department’s “Open for Business Agenda,” and supports President Obama’s National Export Initiative by encouraging the expansion of export markets. Minority business enterprises (MBEs) are uniquely positioned to benefit from the Look South effort, which will help them expand to new export markets and generate more revenue. MBEs are twice as likely to export compared to non-minority firms, more than three times as likely to generate 100 percent of all their sales from exports, and are better able to expand abroad because of linguistic and cultural ties to a region. View Minority-Owned Firms Lead the Nation in Exporting Fact Sheet

  • Submitted on 30 December 2013

    Created on December 30, 2013
     

    Canada USA FlagsThe U.S. Commercial Service and the Embassy of the United States of America in Canada is pleased to announce our upcoming webinar series on “The Logistics of Doing Business in Canada.” The North American Free Trade Agreement (NAFTA) has made doing business in Canada easier, however, many questions still exist.

    This webinar series will give you the opportunity to get answers to the most frequently asked questions, as well as answer your specific questions.

  • Submitted on 26 November 2013

    Created on November 26, 2013
     

    Doing Business in AfricaActing Deputy U.S. Commerce Secretary Patrick Gallagher delivered remarks at “From DC to Africa: Growing Local, Going Global,” a business forum hosted by the D.C. Office on African Affairs to raise awareness of opportunities for U.S. companies to do business in Africa. D.C. Mayor Vincent Gray also gave remarks at the forum and introduced Dr. Gallagher.

    The event also marks the first anniversary of the launch of the Commerce Department’s Doing Business in Africa Campaign (DBIA) by then-Acting Commerce Secretary Rebecca Blank in Johannesburg, South Africa.

    Last year, President Obama issued the U.S. Strategy Toward Sub-Saharan Africa and said the region is poised to be the world’s next greatest economic success story. In fact, sub-Saharan Africa is home to six of the ten fastest-growing economies in the world. U.S. exports to Africa currently top $21 billion a year, and enormous opportunities exist for more U.S. companies to export goods and services there. DBIA works to take advantage of those export and investment opportunities by encouraging more robust commercial engagement in sub-Saharan Africa.

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