New Expansion to Support New OpportunitiesApril 29, 2014
Arun Kumar is the Assistant Secretary for Global Markets and Director General of the U.S. and Foreign Commercial Service.
This post originally appeared on the Department of Commerce blog.
Last week, Commerce Secretary Pritzker made an important announcement that demonstrates the United States’ commitment to supporting developing economies and the Department of Commerce’s commitment to U.S. businesses competing overseas.
The Department’s International Trade Administration will open offices in five new markets, bringing Foreign Commercial Service (CS) officers into some of the world’s most rapidly developing economies. In cooperation with the U.S. State Department, we will open offices in Angola, Ethiopia, Mozambique, Tanzania, and Burma this calendar year.
These new offices, and our staff additions in other offices around the world, will make us more capable of supporting U.S. exporters. We can support more Gold Key Matchmaking, we can conduct more market research, and we can help connect U.S. companies to more global markets.
As a new member of the Department of Commerce team, I’m very excited to be a part of this major expansion – especially in such important markets for U.S. businesses.
Sub-Saharan Africa is one of the fastest growing economic regions in the world. The International Monetary Fund predicts continued growth throughout the continent, as part of a broad continental economic transformation.
Our new offices will support White House initiatives like Trade Africa and Power Africa, which have spearheaded a larger campaign to bolster development throughout the continent.
As U.S. companies look to ship goods to Africa, help increase electrical capacity, or help improve transportation networks, they will receive unparalleled assistance and expertise from our staff. With our new offices on the continent, we will be able to find partners for American companies, help navigate regulatory hurdles, and support the development that will make Africa thrive.
Our team in Thailand is already assisting American companies doing business in Burma, and our new office in Rangoon is a symbol of the importance of this market and of America’s commitment to Burmese reform, growth, and increased openness. We know that the Burmese people see U.S. goods as being of high quality, and the nation’s businesses are looking to get involved with American companies.
As this expansion takes place, these markets are where we will truly see the mutual benefits of trade.
As U.S. companies find more opportunities in these growing economies, they will bring the infrastructure and ideas that improves quality of life for citizens and they will support the partnerships that spur innovation among local businesses.
This announcement is just the start. I’m very excited to see how this expansion will help support existing partnerships, create new opportunities, and bring about the kind of development that is only possible through global trade.