Partnering to Continue U.S. Export Growth in ChinaMay 7, 2014
Eric Wolff is the Deputy Principal Commercial Officer at the U.S. Consulate General in Shanghai.
When you are speaking for American businesses in East China, it’s great to have a good set of partners by your side.
That’s why it’s so important that the International Trade Administration (ITA) signed a Memorandum of Agreement with the American Chamber of Commerce—Shanghai. Our teams will cooperate on initiatives to help American businesses succeed in East China, one of the hubs of the country’s growing economy.
We will share resources to help American companies find the most qualified partners in the region and make sure that U.S. business leaders know about every important opportunity to do business here. We’ll also work together to support Chinese investors looking for investment opportunities in the United States.
American business leaders have long known that East China represents an outstanding business market for U.S. companies, which is why AmCham Shanghai was one of the first AmChams founded outside the United States.
As we sign this agreement, China is a more promising market than ever.
U.S. exports to the country have increased by more than 75 percent since 2009, reaching a record $122 billion in 2013. The growing middle class has helped create a remarkable increase in U.S. auto exports to China.
Actually, transportation equipment exports overall have risen dramatically in recent history, along with sectors like chemicals and wood products.
Signs point to this trend of growth continuing. China’s economy continues to grow, and consumers around the country continue to seek out high quality, American goods.
Factor in the U.S. government’s continued emphasis on supporting American companies here, demonstrated by ITA’s opening of a new office in Wuhan and an increase in personnel throughout the country, and you have a recipe for a bright future of economic opportunity.
I very much look forward to the partnership between AmCham Shanghai and ITA, and I know that working together, we will really see some great success stories.