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Global Opportunities and New Markets


  • 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 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.

  • Submitted on 05 February 2014

    This blog was originally posted on the U.S. Department of Commerce website.

    Created on February 5, 2014
     

    Secretary Pritzker meeting with Mexico Secretary of Economy IIdefonso Guajardo VillarrealU.S. Secretary of Commerce Penny Pritzker officially began her five-day trade mission to Mexico on February 3rd, starting the trip in Mexico City. She is joined by representatives from 17 U.S. companies looking to expand partnerships and develop effective strategies for accessing and doing business in the Mexican market.

    The focus of this trade mission is to promote U.S. exports to Mexico by helping export-ready U.S. companies launch or increase their business in a number of key industry sectors including advanced manufacturing, information and communications technology, and health IT and medical devices. The companies joining the Secretary address the demand of these growing industries in Mexico.

    “The 17 companies who have joined me on this important mission represent the best of American business. These outstanding and innovative companies understand that selling American products overseas is a crucial component to growing and creating jobs,” U.S. Secretary of Commerce Penny Pritzker said.  “I am delighted we can help these companies expand their presence in Mexico through this business development mission.”

  • 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 20 December 2013

    Created on November 4, 2013
     

    BuildingsAnnouncing two unprecedented opportunities for U.S. economic development organizations to participate in SelectUSA events in Hong Kong, Shenzhen, and Guangzhou in early 2014.

    January 13 - 14, 2014 - SelectUSA Booth at the Asian Financial Forum (AFF), Hong Kong Convention and Exhibition Centre

    The U.S. Commercial Service team in Hong Kong is recruiting interested U.S. economic development organizations (EDOs) with concrete investment projects to participate at the sixth annual Asian Financial Forum on January 13 - 14. AFF brings together members of the global financial and business community to discuss developments and trends across markets in Asia. Participating EDOs will be hosted at the SelectUSA booth in the AFF Investment Zone. The fee to participate is $950 per person, which grants full access to the two-day conference, two keynote lunches, networking receptions, the DealFlow meetings, and more.

    To learn more about participating as part of the SelectUSA Booth, contact Scott Shaw at scott.shaw@trade.gov. To learn more about AFF, visit www.asianfinancialforum.com/en/index.htm.

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