Francisco J. Sánchez is the Under Secretary of Commerce for International Trade.
One thing we understand in international trade is the importance of partnerships.
Asia has been a great partner to American business and offers immense opportunities for companies looking to expand into new markets. As the 2013 Trade Winds Asia mission goes on through May 19, U.S. businesses will learn about opportunities in a wide range of industry sectors across many regions in Asia.
It’s a great event for World Trade Month as we continue to promote U.S. goods and services around the world.
The mission visits five major cities in the Asian market: Hong Kong, Manila, Seoul, Taipei, and Tokyo. These cities represent regions with expanding global sales potential for U.S. business, and play a major part in our recent export success.
- The United States exported more than $387 billion of goods to Asia in 2012;
- The top three export categories were computer and electronic products, chemicals, and transportation equipment;
- U.S. exports to Hong Kong have more than doubled since 2005;
- Exports to Japan have increased every year since 2009; and
- U.S. exports to countries with which we have trade agreements, including Korea, increased by 5.8 percent in 2012.
These figures show the great partnership we have with Asia, and the potential that remains for future business. The figures also represent jobs back here at home; $387 billion in merchandise exports to Asia supports nearly two million American jobs.
Trade Winds missions around the world contribute to export success. Companies who report back to us on their successes tell us they’ve achieved nearly $110 million in exports as a result of participating in Trade Winds missions.
I’m honored to lead this mission and I’m proud of the work my colleagues at the International Trade Administration have put in to making the mission as successful as possible. I am proud to be working with the business leaders participating in Trade Winds Asia – and I hope we can help many more on one of our upcoming missions.