Hong Kong Trade Agency Recognized for Support of U.S. ExportsNovember 1, 2011
By Tim Truman, a public affairs specialist in the International Trade Administration’s Office of Public Affairs.
Fred Lam, executive director of the Hong Kong Trade Development Council (HKTDC) was presented with the Peace through Commerce Award in recognition of his organization’s support of U.S. exports through the Pacific Bridge Initiative (PBI). The award was made by Francisco Sánchez, under secretary of commerce for international trade, at a ceremony in Hong Kong on October 18, 2011.
“I’m proud to honor Fred Lam today for his decades of service and his pioneering efforts with the groundbreaking Pacific Bridge Initiative,” said Sánchez. “The PBI has been a win-win collaboration for America and Hong Kong. It’s helping us to achieve President Obama’s National Export Initiative goals, and supporting Hong Kong’s efforts to be the pre-eminent commercial platform for this dynamic part of the world.”
The PBI was introduced in 2010. It aims to leverage the existing U.S.-Hong Kong trade relationship to explore new markets, particularly in Asia and China, in support of the National Export Initiative (NEI). Through it, the HKTDC became the first government body outside the United States to promote the NEI on a bilateral basis. Since its inception, the PBI has helped triple the number of export transactions to Asia by new-to-market U.S. firms.
RELATED: Pacific Bridge Initiative
The Peace through Commerce Award is a medal given to recognize an individual, group, or organization, either domestic or foreign, whose actions have significantly promoted and developed U.S. export initiatives, encouraged innovative approaches, and improved overall U.S. trade relations. It dates back to the first secretary of state, Thomas Jefferson, who commissioned the medal in 1790. Then known as the Diplomatic Medal, Jefferson awarded it to foreign diplomats who aided the Continental Congress during the American Revolution.