Posts Tagged ‘Secretary Pritzker’

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U.S. Secretary of Commerce Penny Pritzker Discusses Opportunities for U.S. Companies to Export

July 17, 2014

This post originally appeared on the Department of Commerce blog.

U.S. exports reached a record $2.3 trillion in 2013 and support a record 11.3 million U.S. jobs. Thousands of companies across the country made exporting a strategy to growing their business and in fact, exports have driven the economic recovery and job creation in a number of U.S. cities. Because of the critical role of exports, the Department of Commerce recently launched the next phase of the NEI Next emblemNational Export Initiative, NEI/NEXT. Building on the success of the National Export Initiative, NEI/NEXT is a new customer service-driven strategy with improved information resources that will help American businesses capitalize on existing and new opportunities to sell Made-in-America goods and services abroad.

As part of this effort, U.S. Department of Commerce Secretary Penny Pritzker visited the Qualcomm headquarters in San Diego, Calif. yesterday, where she led a roundtable discussion on the importance of U.S. exports with the “Global San Diego Export Plan” team. This plan, which aims to integrate exports into San Diego’s economic development strategy, is being developed in close consultation with the Commerce Department’s International Trade Administration (ITA) and the Brookings Institution’s Metropolitan Policy Program.

During the roundtable discussion, Secretary Pritzker met with local private and public sector leaders and learned more about the success of their export strategy and the challenges they still face. The partnership-driven export and investment strategy has made a big impact on the San Diego economy, but there are still more areas and opportunities for growth. One of the key objectives of NEI/NEXT is to promote exports as an economic development priority for communities across the country. San Diego’s export plan is an excellent example for how other cities and metropolitan areas across the country can partner with businesses and government to better facilitate exports.

Roundtable participants also spoke about the practical challenges they are facing including the role of small and medium sized businesses, infrastructure, retaining talent and branding. Secretary Pritzker discussed Department of Commerce resources and ways the Department and ITA could provide assistance to businesses and the Export Plan team to help overcome some of these challenges.

Since the launch of President Obama’s National Export Initiative in 2010, the United States has seen strong export-driven economic growth and has broken export records four years in a row. Increasing U.S. exports remains a top priority for the Obama Administration, and the Commerce Department is ready to assist San Diego and other communities in making the most of their exporting potential.

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Understanding Business Opportunities in Vietnam

June 3, 2014

Peggy Keshishian is the Acting Senior Commercial Officer in the International Trade Administration’s Foreign Commercial Service Team in Vietnam.

Secretary Pritzker met with leaders from the American Chamber of Commerce in Vietnam.

Secretary Pritzker met with leaders from the American Chamber of Commerce in Vietnam.

It was an honor to host Commerce Secretary Pritzker here in Vietnam. She and the visiting delegation of U.S. CEOs and the U.S.-ASEAN Business Council are absolutely right to prioritize the Vietnam market and their visit to the country will do nothing but help solidify a promising commercial relationship.

Here’s what I know about Vietnam: Despite some potential pitfalls, it is a hotbed of opportunity for U.S. businesses.

There are two important reasons Vietnam is a promising market:

  1. The country is modernizing, meaning there are numerous needs for infrastructure development. Improvements of transportation systems — including subways, highways, and airports — not only mean opportunities for U.S. firms, but also an improved business environment in the country.
  2. The population is also young; 70 percent of Vietnamese citizens are under 40 years old. That means there is tremendous opportunity for developing brand loyalty among consumers. Vietnamese citizens recognize the quality of U.S. products, and incomes in the country are rising. That helps create a promising environment for U.S. goods and services.

That said, it’s important to recognize there are some risks in the Vietnamese market.

Much of the money being injected into the economy comes from foreign sources, and is often provided by nations that expect their companies to receive a leg-up when it comes to competing for state contracts. You need to aware of how projects are financed so that you don’t end up spinning your wheels competing for a contract your business is unlikely to win.

This is something Secretary Pritzker addressed in several meetings with Vietnamese leaders, and I believe the country is taking important steps to increase transparency and fairness.

Our Foreign Commercial Service team works hard to make sure any American company looking to enter this market knows how to succeed. We work with our Commercial Service colleagues in the United States to support U.S. businesses with services like market research, finding the most qualified local partners, and discovering the best opportunities available.

We’ll remain here on the ground, continuing to support U.S. businesses and building off the success of the Secretary’s visit.

If you’re interested in opportunities in Vietnam – or in any other market – you should contact your nearest Export Assistance Center to get started.

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Recognizing Those Supporting American Exports

May 28, 2014

This post contains external links. Please review our external linking policy.

Ken Hyatt is the Acting Under Secretary of Commerce for International Trade.

Icelantic Skis was one of 65 companies and organizations recognized by Commerce Secretary Penny Pritzker with a President's E Award for supporting U.S. exports.

Icelantic Skis was one of 65 companies and organizations recognized by Commerce Secretary Penny Pritzker with a President’s E Award for supporting U.S. exports. You can find more photos on our Facebook page.

We at the Department of Commerce produce a lot of numbers, but we always try to see behind the export numbers into what they create – jobs, growth, and development.

It was easy to see behind the numbers today, as I joined Secretary of Commerce Penny Pritzker to recognize and congratulate 65 companies and organizations that have supported the expansion of U.S. exports.

These companies and organizations earned the 2014 President’s E Awards, the highest honor bestowed upon those that are committed to expanding the U.S. economy through exports.

The awardees include an assortment of small and medium-sized businesses in a variety of states and business sectors. From Kansas-based Pioneer Balloon Company to California-based Robinson Pharma, both of which have expanded their exports with support from U.S. government agencies including the Department of Commerce.

Then there are organizations like the Global Commerce Council of the Metro Atlanta Chamber, which provides counseling, training, and networking opportunities to support Atlanta-area businesses looking to succeed overseas. This kind of support is crucial to businesses looking to expand their global presence.

There are 62 other companies and organizations that earned the President’s E Award, each and every one of which is working hard to make international trade a part of the DNA of American business.

I was honored to be a part of today’s ceremony, as I am continually honored to be a part of our nation’s growing commitment to international trade.

Congratulations to each and every company and organization recognized today, and thanks to every other American business, chamber of commerce, trade organization, World Trade Center, and other entities that are supporting U.S. businesses.

All of us at the Department of Commerce look forward to another year of more American companies competing and succeeding overseas, and to recognizing the businesses and organizations who exemplify the American commitment to global business during the next year.

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New Expansion to Support New Opportunities

April 29, 2014

Arun Kumar is the Assistant Secretary for Global Markets and Director General of the U.S. and Foreign Commercial Service.

Arun Kumar is the Assistant Secretary for Global Markets and Director General of the U.S. and Foreign Commercial Service.

Arun Kumar

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.

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German FDI in the United States – Investor Confidence on the Rise

April 3, 2014

Amy Zecha is an International Investment Specialist with SelectUSA. Her portfolio covers Central and Eastern Europe, including Germany.

Image shows two businessmen meeting face to face. Are you an international investor based in Germany? Meet with SelectUSA representatives and U.S. states, cities, and counties to find new investment opportunities!

Are you an international investor based in Germany? Meet with SelectUSA representatives and U.S. states, cities, and counties to find new investment opportunities!

Ranking as the third largest investor in the United States, Germany plays an important role in the U.S. economy with more than 10 percent of all FDI in the country.  Of the $2.7 trillion in FDI stock recorded in 2012, Germany accounted for more than $272.2 billionSelectUSA has identified Germany as a key focus market and will lead multiple delegations of economic development organizations (EDOs) to Germany throughout the coming year, including groups to Hannover Messe in April, and Automechanika in September.

The German American Chamber of Commerce does an annual survey of German-owned subsidiaries in the United States called the German American Business Outlook. This report indicated there was a five-year high in investor confidence, with 98 percent of German firms in the United States expecting to see business growth in 2014. This level of confidence is reflected by the 31 percent of respondents planning the launch of new product lines and 75 percent anticipating making new hires for the coming year.

Survey respondents expressed some concerns about the lack of a skilled workforce in the United States, but still remained positive about the overall outlook in 2014. This upbeat outlook may be due in part to the various efforts by both the United States and Germany to address workforce issues, including the German Skills Initiative.

This collaborative effort between the German Embassy and the U.S. Department of Commerce focuses on bringing the German dual-track vocational training to the United States, concentrating on areas where high-skilled manufacturing clusters are located. The program matches German and American businesses with educational institutions to help create workforce training programs that will help produce workers with the specific skill sets demanded by the businesses of today – and tomorrow.

Register now for the Hannover Messe 2014 investment event

The commitment to workforce development and working with the German business community is demonstrated at all levels of the U.S. Department of Commerce. In November 2013, Secretary Penny Pritzker traveled to Munich, Germany to meet with German CEOs interested in establishing facilities (or expanding existing operations) in the United States. During her trip, she visited with business leaders from BMW, Frauenhofer, and iwis Motorsystems to learn more about their best practices for training and apprenticeship programs.

These kinds of relationships and exchanges on best practices will only enhance the attractiveness of the United States to international companies. As future workforce and training initiatives and partnerships come online, we expect to see growing interest in the U.S. market – not just from German companies, but others around the world.

Author’s Note: For potential investors interested in speaking directly to SelectUSA representatives and meet with U.S. states, cities, and counties, we will be hosting the USA Investment Center at Hannover Messe 2014. To schedule an appointment, please visit http://selectusa.tema.de/.

To learn more about SelectUSA and our global programs for both EDOs and international investors please visit www.selectUSA.gov or follow us on Twitter at @SelectUSA

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U.S. Secretary of Commerce Penny Pritzker Concludes Her First Trade Mission in Mexico

February 10, 2014

This post originally appeared on the Department of Commerce blog.

Secretary Pritzker is joined by U.S. Ambassador Wayne and Mexico's Secretary of Economy, Ildefonso Guajardo Villarreal during her trade mission to Mexico City and Monterrey, Mexico.

Secretary Pritzker is joined by U.S. Ambassador Wayne and Mexico’s Secretary of Economy, Ildefonso Guajardo Villarreal during her trade mission to Mexico City and Monterrey, Mexico.

On Friday, U.S. Commerce Secretary Penny Pritzker concluded her five-day trade mission in Monterrey, the largest business center in Mexico after Mexico City.

Among her many trade mission events, Secretary Pritzker met with Margarita Arellanes Cervantes, Mayor of Monterrey, and Jose Luis Pier Castello, President of Lowe’s Mexico – one of the leading hardware chains in the world – to highlight the importance of promoting corporate social responsibility and to recognize Lowe’s and other American companies doing business in Mexico for their focus on these efforts. At a Lowe’s store in Monterrey, Secretary Pritzker expressed her appreciation for employee volunteerism and acknowledged the importance of companies’ involvement in the communities in which they operate.

After Lowe’s opened its first two stores in Monterrey in 2010, the company, began looking for ways to get involved in the Monterrey community. The company has since supported local schools with donations, volunteer time, and construction expertise. Secretary Pritzker said that Lowe’s commitment to the Monterrey community reflects the values of many American companies that invest in Mexico, and that U.S. companies are committed to staying active in the region.

In addition to meeting with Mexican government officials in Monterrey, Secretary Pritzker met with employees at the U.S. Consulate in Monterrey as well as the Department of Commerce’s Monterrey team, thanking them for their public service and for their assistance in promoting Mexican investment in the United States.

Last week’s trade mission, which also included a visit to Mexico City, provided the 17-company business delegation with opportunities to establish relationships that will help promote their technologies and services in Mexico’s rapidly expanding infrastructure sector to support job creation in both countries. The mission also allowed Secretary Pritzker to focus on two of her main priorities as Commerce Secretary – helping U.S. businesses export goods and services and encouraging investment in the U.S.

Mexico is one of the United States’ largest trading partners, and the United States will continue building and strengthening relationships with its southern neighbor.

Learn more about this trade mission, and read about other highlights of the Secretary’s trip, including her meetings with Mexican government officials, her speech at a breakfast event hosted by the American Chamber of Commerce and the Mexico-United States Entrepreneurship and Innovation Council (MUSEIC), and her remarks at the Mexico Chamber for Industrial Transformation of Nuevo Leon and Cintermex Luncheon.

Secretary Pritzker’s next trade missions include trips to the Middle East from March 8-14 with stops in the United Arab Emirates, Saudi Arabia, and Qatar, and to West Africa May 18-23 with stops in Ghana and Nigeria.

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Look South Campaign Focuses on U.S. Export Potential

February 5, 2014

Moshtayeen Ahmad recently completed an internship in the International Trade Administration’s Office for Export Policy, Promotion, and Strategy.The Look South campaign is encouraging companies to seek export opportunities in Latin America.

Favorable 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.

The Look South campaign takes advantage of already existing resources like local U.S Export Assistance Centers and commercial experts in each Look South market. Services include assistance in picking the right market for your business, getting your goods ready to ship, and understanding regulations in each country. Businesses can attend trade events that bring U.S. companies and foreign buyers together to expand on opportunities. The U.S. Commercial Service also offers guidance on trade financing assistance.

To get more detailed information on the best prospects and market intelligence for each sector in the Look South countries, visit our website.

You can also visit the Market Research Library (MRL) for a complete collection of all our market research, including our Country Commercial Guides, Best Market Reports and Market Research Reports.

Our team is standing by to help your business find success in Latin America. Find out how we can help!

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