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Under Secretary Sánchez to Speak on Panel for Technology-Based Global Innovation

January 31, 2013

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Tyler Braswell is an intern for the International Trade Administration’s Office of Public Affairs. He is studying International Business and attends George Washington University.

The Digital Age is upon us. The effect of digital technology on the global market has been well documented as technology-based companies continue to supply the world with innovative methods and products that increase the quality and efficiency of American lives and businesses.  The creation of jobs due to new technology as well as the continued financial success of technology-based firms has made the promotion of technology-based innovation a top priority for any economy looking to compete internationally.

President Obama’s plan to make high-speed wireless services available to 98% of Americans will make technology-based software and products even more accessible to American consumers. As technology is integrated more deeply into society, the U.S. is working to ensure that these integrations directly translate to domestic economic growth.

On Feb. 4, Francisco Sánchez, Under Secretary of Commerce for International Trade, will participate in an event hosted by the Information Technology Innovation Foundation (ITIF). The ITIF is a non-partisan think tank whose mission is to help American policymakers better understand the nature of a new innovation-driven economy.

The ITIF discussion panel will focus on the increase in global competition to host technology-based firms and the benefits that hosting such companies can have on a country’s economy. The event will also feature information on how countries attract technology-based firms and what the U.S. has done to improve its appeal to those firms. The Under Secretary will be joined on the panel by the general counsels for NCR and Qualcomm.

Sánchez and the panel will answer questions from industry participants concerning the advantages currently offered to firms that choose to do business within the United States.

The Under Secretary will also provide information on certain policies the U.S. has enacted to promote technology-based industry within the U.S. as well as trade agreements designed to benefit American companies.

The U.S. is actively advancing trade agreements and initiatives to broaden market access. Technology-based firms will be among the primary beneficiaries. Trade agreements like the Trans-Pacific Partnership (TPP) will help technology-based firms by expanding access to key Asian markets and removing bans on border crossing data-flows.

American leaders—both in government and business—appreciate that supporting technology-based firms is necessary to achieve President Obama’s goal of increasing our exports and re-balancing our economy, which are embedded in the National Export Initiative. This event will reaffirm the International Trade Administration’s commitment to increase exports, further the global expansion of domestic businesses, and attract new technology-based industries to the U.S. economy.

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