Archive for the ‘Miscellaneous’ Category

h1

Historic Year for Women Continues between the U.S., Africa and Middle East with Economic Empowerment Dialogues

March 31, 2021

Camille Richardson is the Deputy Assistant Secretary of Commerce for the Middle East & Africa

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

In the United States, 2021 is shaping up to be a historic year for women. For those of us in the field of trade, to have women appointed to key Cabinet positions this month, including Secretary of Commerce and the U.S. Trade Representative is a great honor and reflection of our values as a nation. At the International Trade Administration (ITA), we are committed to empowering women in business, exporting and entrepreneurship in the U.S. across the world, including in the Africa and the Middle East—a region of significant trade growth and investment.

The statistics may surprise you. In Sub-Saharan Africa, 29 percent of all small, medium, and large firms are owned by women. In Kenya, for example, between 2000 and 2019, the percentage of women wage and salary earners doubled from 20 to 40 percent, giving Kenya’s female labor force the highest participation rate, at 24 percent, in Sub-Saharan Africa.

What’s also impressive, here in the U.S., between 2014 and 2019, women-led businesses outstripped the total population of U.S. businesses in terms of growth in the number of businesses created, the number of jobs created, and total revenue generated. However, only 12 percent of women owned companies exported – foregoing the higher-revenues and increased number of jobs created through trade.

Empowering Women through Trade and Investment

Supporting the growth and success of women entrepreneurs in the U.S. and overseas is key to our economic recovery and is precisely why ITA created WELLTI: Women Empowered Leave Legacies through Trade and Investment. As part of this initiative, this year we launched a series of ‘Coffee Chats’ to connect women in the United States and countries throughout Africa and the Middle East to discuss shared challenges and opportunities to grow business through trade and investment activities. I’ve had the privilege of moderating these discussions and am grateful to all those who participated.

At our inaugural meeting in January, we spotlighted Kenya and highlighted the work of Dr. Joyce Gikunda, the founder of Linton’s Beauty World, who grew her beauty and cosmetics business into a line of pharmacies by importing products from the U.S.  Our top Commercial Diplomat in Kenya, Diane Jones, organized the event and discussed on the ground resources for U.S. women entrepreneurs looking for business connections.

In March, our Commercial post in Kenya co-hosted another event with Kayana Create to support women importers in Kenya looking to buy more products from the U.S.  This event was attended by participants representing a wide variety of sectors and was a wonderful opportunity for Kenyan businesswomen to learn how to source goods and services from the United States.

Also, in celebration of Women’s History Month, we featured two women entrepreneurs from Ethiopia: Felekeche Biratu, co-founder of the Yenae Collection, and Sarah Yirga, founder of Ya Coffee Roaster and Ethiopia Women in Coffee who, through trade and investment with the United States, have positioned their products for sale with high end brands such as Hilton Hotels. Our top Commercial Diplomat in Ethiopia, Yasue Pai, coordinated that event, and hosted a special webinar highlighting the positive impact that female entrepreneurship can have on economic recovery and growth and participating in corporate global supply chains. Women-owned businesses have been especially hit hard by the Covid-19 pandemic. These virtual coffee chats are just one way that ITA is supporting these businesses. Entrepreneurs in Ethiopia and across the U.S. participated in this virtual chat.

To wrap up this month’s celebration, the Department of Commerce’s President’s Advisory Council on Doing Business in Africa is holding a virtual panel event today, March 31. Enabling Women Entrepreneurs in U.S.-Africa Trade and Investment will bring together women entrepreneurs and senior officials from the United States and Africa to discuss policies and programs that should be developed or strengthened in both markets to address the constraints women-owned businesses face in international trade. The conversation will also include practical insights from notable U.S. and African women entrepreneurs and feature remarks from U.S. Secretary of Commerce Gina Raimondo and Kenya’s Ambassador to the United States, the Honorable Lazarus Amayo.

Continuing the Effort

We have mapped out our Coffee Chat series featuring a market or topic each month through February 2022 leading up to a special women-focused event as part of our Trade Winds 2022 Trade Mission and Business Forum taking place in Dubai March 6-8. We are doing all of this because we believe that women will play a key role in global economic recovery in a post-pandemic world.

When women are given the right tools, information, and connections, they become empowered to make economies stronger and increase workforce productivity. Women are built to be resilient and ITA stands ready to empower women, who are passionate about what they do, so the contributions they make will help us to build back better in a post-pandemic world.

h1

Unleash your inner global business goddess in three easy steps

March 12, 2021

Tricia Van Orden is Deputy Director of ITA’s Trade Promotion Coordination Committee Secretariat

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

In recognition of International Women’s Day on March 8, the International Trade Administration will spotlight content and resources on our website on women in trade, business, and entrepreneurship throughout the month of March. Learn more about the United Nations observance of this day.

Ninety-five percent of the world’s consumers live beyond the U.S. borders, and modern technology has made it easier than ever to reach them. Be the global business goddess you’ve always dreamed of by following these three tips:

Female executive holding a coffee mug that says "Like A Boss" on it. Souce: Unspash.com

1. Start with what you know and leverage others’ knowledge.  Whether it’s tapping into big data from online platforms to gain market insights or scheduling a meeting with a business counselor at a local Women’s Business Center, learn how to take advantage of the vast array of resources ready to help you. A plethora of online tools and trade professionals are available to help women-led startups and small businesses find success in international markets. The U.S. Government, and in many areas, State and local governments, offers free training and counseling to develop an international business plan to get started doing business globally. A great first step is finding your local Small Business Development Center and taking advantage of their online and in-person resources. Additionally, District Export Councils are comprised of exporters and export service providers who promote exporting in their local business communities, including through education and mentoring. You can put this network to use as you craft your international business plan. 

If your startup or small business has done business in one or two foreign markets and you’re interested in finding new opportunities and expanding sales, get in touch with your nearest U.S. Export Assistance Center, staffed by ITA professionals whose mission is to help you develop your export plan.

2. Know when to seek the counsel of a lawyer you trust. International business can be complicated, and you need to ensure your ideas, trademarks, and copyrights are protected and that you’re compliant with applicable U.S. and foreign laws. Professional legal guidance will help you find the right path. Until you’re ready for that step, peruse the business guide to intellectual property on StopFakes.gov. Another resource is the Export Legal Assistance Network, a network of attorneys who volunteer their time to provide an initial legal consultation free of charge to new exporters to assist with issues related to export licensing, taxation, tariffs, and intellectual property.

3. It’s never too late to go back to school.  Your campus days might be behind you, but local universities and community colleges often provide opportunities for business expansion. You might find your next partner or investor at a networking event, and many schools offer international immersion programs that can broaden your global mindset and help you make connections in markets of interest. At many business schools, students team up with local companies to conduct market research and develop market entry strategies.  Companies interested in exporting can take advantage of these cooperative agreements and receive market research products either free of charge or for a very low fee.

You can hear directly from women entrepreneurs who used these strategies to build global businesses by joining Startup Global: Women Go Global, a free program that will take place on Thursday, March 18 at 2:00PM EST. Think of it as global business goddess bootcamp. In 90 minutes, you’ll learn the ins and outs of starting a global business from day one from women who have been there. Hear about their challenges, what they learned along the way, and how they emerged triumphant.

Startup Global is a collaboration between the International Trade Administration and the Global Innovation Forum that provides focused advice to small and early-stage U.S. companies looking to grow their businesses by engaging in the global marketplace.  Startup Global offers educational seminars and connects entrepreneurs to the tools and experts they need to grow a global business. In honor of International Women’s Day, Startup Global has created a special program for all the global business goddesses out there. Register for the online event by visiting https://globalinnovationforum.com/events/startup-global-women/.

h1

Start a New Global Business Habit This Year

March 8, 2021

Meet two women business leaders who achieved success expanding their sales overseas

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

Tricia Van Orden is Deputy Director of ITA’s Trade Promotion Coordination Committee Secretariat

In recognition of International Women’s Day on March 8, the International Trade Administration will spotlight content and resources on our website on women in trade, business, and entrepreneurship throughout the month of March. Learn more about the United Nations observance of this day.

Image showing outline of a women with the words Happy International Women's Day March 8

Getting started with anything new can seem overwhelming, whether it pertains to your personal life or your business.  The International Trade Administration can’t help you start a daily flossing habit, but we can help you plan for your global business expansion. If you’ve never considering taking your business global, we have just what you need to research, plan, and execute, all broken into manageable steps.

Today, it’s easier and more practical than ever to sell goods and services across the globe. Most of the world’s potential consumers are outside of the United States, and the global affinity for Made in USA products and services is second to none. Many U.S. companies boost their bottom line and build their competitiveness by selling to world markets, and you can too.

This March, in honor of International Women’s Day, we invite you to learn about women who have taken their businesses global, and we welcome you to explore all the expertise, tools, and resources that the International Trade Administration provides to help you do the same.

For Janet Ryan, the President of SpectraSpray, a New Jersey-based company that creates oral spray vitamins, the first step in her exporting journey was attending a women’s entrepreneurship event. It was there that Janet met an International Trade Administration trade expert, who advised on market opportunities and provided information on everything from product registration to pricing strategies. When Janet was ready for the next step, she was connected to our team in Asia, who helped SpectraSpray participate in an international trade show. At the trade show, SpectraSpray caught the attention of a Singapore distributor with whom they now have an exclusive distributorship. In a few easy steps, Janet leveraged the International Trade Administration’s network of experts to take her business global. This is just the beginning of Janet’s new global business habit. She says, “I’ve learned a great deal from each of you and will now use that knowledge going forward.”

For Kusum Kavia, Co-Founder and President of Combustion Associates, Inc., a California-based power generation company, going global was always a calling. Born in Kenya, Kusum moved to the United States and started a business with her husband. She was always drawn to do business in Africa. After initially exporting to West Africa, Kusum was able to create high-paying engineering and manufacturing jobs to support even more international sales. She worked with the International Trade Administration to expand international sales and to support infrastructure needs across Sub-Saharan Africa. Today, ninety percent of Combustion Associates, Inc. customers are outside the United States, and international sales support more than 100 jobs in the United States. Kusum credits the International Trade Administration’s help with this success, and she says, “For companies that are looking to stretch and export to Sub-Saharan Africa, I would say the first thing to do is to call the U.S. Commercial Service.” Janet and Kusum leveraged the market knowledge, global business insights, and networks of the International Trade Administration, and they took their businesses global in a big way. You can do it too. Make today the first day of your new global business habit with the International Trade Administration. We are in the business of helping your business succeed, so head over to https://www.trade.gov/learn-how-export to start your journey. We promise the first step is easier than remembering to floss every night.

h1

Application Process Opens for U.S. Industry Groups Seeking Awards for Projects that Address Barriers to U.S. Exporters

February 11, 2020

By Brad Hess, Director, Market Development Cooperator Program, Office of Industry Engagement

The International Trade Administration (ITA) invites U.S. trade associations, professional societies, standards developing organizations, and other non-profit industry groups to apply for financial and technical assistance for projects that remove trade barriers to U.S. exporters. Applications for the Market Development Cooperator Program (MDCP) awards are due April 27, 2020.

ITA is conducting a series of conference calls to provide further information on how to compete successfully for a 2020 MDCP award. Potential applicants can check the requirements to determine their eligibility to apply for the program.

Pitch Ideas Now to ITA Officials
Prior to the February 27 MDCP notice being published on grants.gov, applicants will have the chance to brainstorm project ideas with ITA officials.

Interested industry groups should contact Jessica.Dulkadir@trade.gov to discuss their ideas. ITA will also include trade professionals in this initial phase that can give potential applicants useful feedback.

2020 Funding Focus is Removing Trade Barriers
Historically, 30-40 percent of MDCP projects have included a strong focus on removing trade barriers. For the 2020 competition, ITA wants all projects it funds to have such a focus.

An MDCP applicant must propose a project that creates or sustains U.S. jobs by increasing or maintaining exports (priority 1 listed below). In addition, a successful applicant must show how its proposed project will address any two of priorities 2-6 below.

  1. Create or sustain U.S. jobs by increasing or maintaining exports.
  2. Address non-tariff barriers to U.S. exports such as discriminatory regulations, local content requirements, onerous standards or conformity assessment procedures, and other measures that may be unreasonably trade restrictive.
  3. Secure strong intellectual property rights protection and combat counterfeiting and piracy.
  4. Counter discriminatory trade policies such as “indigenous innovation” or “localization.”
  5. Participate in the formulation and encourage the adoption of standards that are industry-developed, market-driven, science-based, and internationally recognized.
  6. When appropriate, encourage the development of aligned regulatory requirements that avoid unnecessary costs on businesses.

Examples of Successful Trade Barrier Removal Projects
It takes time to address and remove trade barriers. This is why MDCP projects must last a minimum of three years. Realistically, most projects need even more time to remove trade barriers like discriminatory standards or regulations. The International Association of Plumbing and Mechanical Officials (IAPMO) was able to help Indonesia establish a new plumbing code and implement a conformity assessment regime in just three years.

IAPMO advised Indonesia officials on establishing a national plumbing code then openedPhoto and Caption for MDCP Blog 020920 a lab to certify compliance of products with the new code. Indonesia’s newly adopted national plumbing standard, SNI 8153:2015, requires a lab certification of plumbing products. This allows architects, planners, builders, and building owners the certainty they need to choose the right products for the right applications.

Prior to the MDCP project and the adoption of the plumbing code, low quality plumbing products not up to standard were prevalent throughout the country. The shoddy products made urban living miserable for most residents. Their widespread use also made it hard for high quality U.S.-made products to compete. Now all plumbing products must conform to the same high standards.

A more detailed description of the IAPMO project is available at trade.gov/mdcp on the Addressing Trade Barriers page. Highlights of several other current and past MDCP trade barrier projects are available on this page as well.

h1

Acting Director General Judy Reinke Travels to San Antonio to Join a 50-Member Delegation from Across the Americas and to Meet with local District Export Council (DEC) Members

April 7, 2017

Shawn Ricks is a Senior Policy Advisor for CS/Global Markets – Western Hemisphere

Earlier this week, Acting Director General Judy Reinke represented the International Trade Administration(ITA) at the Seventh Americas Competitiveness Exchange on Innovation and Entrepreneurship (ACE VII), which commenced a six-day tour (April 2-7) of the Central Texas region, with stops in San Antonio, New Braunfels, Fredericksburg, San Marcos, College Station, and Austin. ACE VII participants include high-level policy and decision makers from government, business, and academia, representing 25 countries from across the Western Hemisphere, as well as Germany and Israel. And, for the first time ever, the delegation includes as many women as men, fulfilling a continuous goal of the program to achieve a gender balance. DG Reinke addressed the group during the Welcome Ceremony on Monday morning, where she highlighted the benefits of the program, noting the connections ITA has to several of the local sites. She was joined by Ivy Taylor, Mayor of San Antonio, and 9th District Councilmember for San Antonio, John Krier.

people

The ACE program showcases homegrown excellence in cutting-edge technology and strategic economic development. For each leg of the trip, the host city leads visits to innovation hubs, cutting-edge enterprises, and educational and research institutions. ACE VII combines dynamic, interactive panel discussions on advanced manufacturing, bioscience, cybersecurity, rural healthcare, and disaster recovery, with hands on tours of venues exhibiting best practices in those clusters. The ACE also increases access to international markets for U.S. exports. Imaginative programs like the ACE have the potential to offset factors that pose the greatest threat the region’s economic future and helps to foster a business culture that enables traditional industries to keep pace with global trends. To see the full agenda, click here.

While in San Antonio, DG Reinke also joined the Texas Camino Real District Export Council (DEC) for a Roundtable Discussion on the Department of Commerce’s commercial priorities and activities, as well as well as to hear the DEC’s thoughts on the current global business environment and the impact on U.S. companies.

h1

World Trade Month: The Importance of Global Trade  

May 2, 2016

Stefan M. Selig is the U.S. Under Secretary of Commerce for International Trade.

World Trade Month logo

Every year, World Trade Month—designated for the month of May—gives us the opportunity to acknowledge the importance of global trade, and look back at the economic advancements we have made as a result. This World Trade Month, we can look back and appreciate the success we have accomplished.

In 2015, our exports totaled $2.23 trillion, we increased our exports to 58 international markets, and we achieved record exports with 20 global partners. Our export success was one aspect of a strong year for the U.S. economy where our auto industry experienced its best year ever and our manufacturing sector reached record highs for output. Exports also contributed to our economy, supporting 11.5 million U.S. jobs and accounting for nearly 13 percent of U.S. GDP. In addition, last year, U.S. services exports tallied another strong year. In fact, business services; telecommunications, computer and information services; and travel all reached export increases of more than $1 billion.

Because we have an economic landscape where trade and investment drive growth, the mission of the International Trade Administration (ITA) is even more important than it has been before. With more than 95 percent of the world’s customers living outside of our borders, trade and investment are a platform for our country to deliver our goods and services to global consumers. A robust export environment also attracts and encourages foreign companies to invest in the most innovative, productive workforce in the world: the United States of America.

These are just some of the reasons why we worked to complete the negotiation for the Trans-Pacific Partnership (TPP) and are working on finalizing the Transatlantic Trade and Investment Partnership (T-TIP) negotiations. A world with both TPP and T-TIP will create a free-trade zone representing more than 60 percent of global GDP, while leveling the playing field for U.S. firms.

Throughout World Trade Month, events across the country are being held to recognize the importance of exporting to jobs and our economy. On May 16th, several U.S. companies will be in Washington, DC to receive the President’s “E” Award in recognition of their contribution to increasing American exports through selling high-quality products and services. During World Trade Week (May 16-20), ITA will lead two missions: a renewable energy trade mission to Mexico and a business development mission to the South Pacific. And, on May 25th, the Department of Commerce will partner with the Global Innovation Forum—a project of the National Foreign Trade Council—for an educational program at Microsoft Ventures in Seattle as a part of our Startup Global program, an initiative designed to help more startup firms think on a global scale from the earliest stages of growth.

Many other events will be held as a part of World Trade Month. I encourage you to follow ITA on Twitter @TradeGov where many of these events will be highlighted. Additionally, as a part of World Trade Month, we will launch our new Instagram account @IntlTrade at the beginning of this month.

ITA is charged with helping U.S. businesses and workers succeed in the global marketplace. Our U.S.-based export assistance centers in more than 100 cities, and our foreign commercial service offices in more than 75 markets around the world, help U.S. businesses tap into global markets in ways they may not have been able to otherwise.

Our client services are precisely why Kentucky-based Zoeller company, the oldest professional pump manufacturer in North America, found a distributor that helped them deliver their systems across sub-Saharan Africa; why Zee Manufacturing out of Des Moines Iowa, was able to ship its automotive accessory products into the Saudi Arabian market; and, why Stress Indicators of Maryland is shipping their visual-indicating SmartBolts to more than 20 countries all over the world, while seeing their revenue growth rate double since 2010.

Thanks to all of the U.S. exporters who continue to advance our competitiveness within the global marketplace. We honor you during this year’s World Trade Month for your relentless commitment and effort.

h1

SABIT Fosters Relationship Building between American and Pakistani Business Leaders

November 24, 2014

Becky Long and Tanner Johnson are International Trade Specialists at the International Trade Administration’s Special American Business Internship Training Program (SABIT).

The Pakistani delegation made a visit to Hess Brother's Fruit Company to learn about trends in packaging materials and food safety.

The Pakistani delegation visited a number of U.S. companies, including Hess Brother’s Fruit Company, to learn about trends in packaging materials and food safety.

The Special American Business Internship Training Program (SABIT) promotes international economic development and the formation of business ties by hosting delegations of international executives in the United States.

The program has been training international business leaders from Eurasia, South Asia, and other regions for more than 20 years.

SABIT recently hosted a delegation of 13 Pakistani executives from the packaging industry, in an effort to further the U.S.-Pakistan business relationship.

The delegation met with leaders of American companies, associations, and government agencies in Washington, DC, Pennsylvania, Maryland, Virginia and Illinois to discuss trade opportunities, technological innovations, and U.S. trends in packaging materials, manufacturing processes, food safety, and marketing.

The group also attended PACK EXPO, one of the world’s largest exhibitions of packaging equipment and materials.

Hosting delegations like this is crucial to furthering the U.S. relationship with an important trade partner.

The United States is the largest export market for Pakistani goods, with nearly $3.7 billion worth of goods going to U.S. consumers. Roughly 90 percent of that total was in the textiles and garments industry, which means there are considerable untapped possibilities for Pakistan’s other industries to expand their exports to the United States.

Pakistani business leaders in a variety of industries are seeking more information about the U.S. market and industry-specific import regulations and processes.

Upon returning home to Pakistan, the delegates will use the knowledge and contacts gained in the United States to improve their businesses, encourage industry collaboration, and increase exports. At the end of the program, several delegates were eager to share their thoughts and takeaways from their visit:

“I learned a lot about laws and regulations, and how to implement food safety regulations. This is important because in Pakistan people are not very aware [of international food safety standards] and due to this reason, food waste is quite high….The flexible packaging market is very similar in the United States and Pakistan, and it is growing in [both countries]. So we have a lot of opportunities to develop flexible packaging materials.”
– Tahira Yasmin, Assistant Manager of Research and Development, Packages Limited

“Being here is like being presented with a crystal ball, you can look ten years ahead into the future, so that is a very good thing. We already know what the future is and where we should be if we want to stay in business.”
Motasim Ahmad Bajwa, Chief Operating Officer, Lucky Plastic Industries Ltd

In March 2015, SABIT will host a Pakistani delegation of professionals in the sphere of supply chain management. The program will help improve Pakistan’s transportation, storage, and logistical linkages, and it will serve to further integrate Pakistan into the international supply chain. SABIT is also planning future in-country training events and webinars for SABIT’s alumni in Pakistan.

Click to watch SABIT’s video interview with some of the packaging delegation participants. U.S. companies interested in hosting SABIT’s international delegations may contact the SABIT office at 202-482-0073 or sabit@trade.gov.

h1

Ohio Preps to Support the Next Generation of Exporters

October 20, 2014

Todd Hiser is a Senior International Trade Specialist at the U.S. Export Assistance Center in Cleveland, Ohio.

Small map of U.S. Midwest with Ohio highlightedCall it a trend. For three straight years, Ohio has set records for annual state exports.

In 2013, the state exported $50.8 billion in goods, with transportation making up 32 percent of the export total.

It’s certainly something to celebrate, as those exports support more than 259,000 jobs. But rather than spend  time celebrating, Ohio is moving to prepare the next generation of exporters.

The Ohio Export Internship Program, a collaboration between the Ohio Development Services Agency and Youngstown State University’s Williamson College of Business Administration, is a special track for students looking to contribute to the future of global businesses in Ohio. The program features a specially-designed exporting course in the spring, followed by an export-related internship in the summer.

What does this mean for Ohio? It means we are helping create a global fluency among tomorrow’s business leaders. It means we are giving tomorrow’s workforce the skills necessary to succeed in tomorrow’s business environment – a global business environment. Commerce Secretary Penny Pritzker has called for trade to become part of the DNA of our economy. This is how we make that happen.

There’s still time for students to apply for the internship, and any students interested in global business should apply.

As the world continues to seek out the quality products we make here in Ohio, I’m excited to see how the interns who graduate from this program enable more companies to meet that demand.

h1

ITA Hosts 7th Annual U.S. Industry Program At the International Atomic Energy Agency for U.S. Civil Nuclear Industry Delegation

October 16, 2014

DAS for Manufacturing Chandra Brown and other U.S. Government officials with the U.S. industry delegation at the 7th annual IAEA U.S. Industry Program

DAS for Manufacturing Chandra Brown and other U.S. Government officials with the U.S. industry delegation at the 7th annual IAEA U.S. Industry Program

Chandra Brown is the Deputy Assistant Secretary of Commerce for Manufacturing.

The Department of Commerce estimates the global civil nuclear market to be worth $500-740 billion over the next ten years, meaning there are significant export opportunities for U.S. companies.

That’s why our team at the U.S. Department of Commerce’s International Trade Administration (ITA) organized the 7th Annual U.S. Industry Program at the International Atomic Energy Agency (IAEA) General Conference in Vienna, Austria.

This program helps U.S. civil nuclear companies and organizations from across the supply chain to showcase their world-class technology to key foreign government decision makers and energy policymakers from around the world. U.S. companies are the global leaders in the field, and this event gives them the chance to prove it.

Chandra Brown, Deputy Assistant Secretary for Manufacturing in ITA’s Industry & Analysis (I&A) unit, led the U.S. industry delegation for the second consecutive year.

The event featured a delegation of 47 representatives from 25 leading U.S. civil nuclear technology and service providers. The program received strong support from the U.S. Departments of State and Energy, the National Security Council, and the U.S. Export-Import Bank.

Some of the program highlights included:

  • Fifteen meetings with foreign government delegations from top target markets, including China, the UAE, Saudi Arabia and Japan;
  • A Roundtable dialogue with U.S. policymakers, led by Secretary of Energy Ernest Moniz, Nuclear Regulatory Commission Chairman Allison Macfarlane, and White House Director for Nuclear Energy Policy Joyce Connery;
  • A U.S. exhibit where foreign delegates could learn more about the participating U.S. companies;
  • Over 90 one-on-one meetings with CS staff from ten top markets brought to Vienna specifically for the event.

The event occurred just before a recently announced milestone in U.S. civil nuclear trade – the October 3rd announcement that the U.S.-Vietnam agreement on civilian nuclear energy cooperation (123 Agreement) has entered into force. This agreement enables bilateral commercial nuclear trade between the U.S. and Vietnam and will help U.S. industry to gain greater access to a market worth as much as $20 billion dollars.

The U.S. Industry Program at the IAEA has become a flagship ITA event and enables the U.S. Government and U.S. industry to engage in a coordinated manner with potential foreign buyers from both emerging markets and mature markets.

h1

President’s Export Council to Participate in Administration’s First Ever Fact-Finding Mission

September 11, 2014

Stefan M. Selig is the Under Secretary of Commerce for International Trade.

Stefan M. Selig

Stefan M. Selig

Yesterday, Secretary Pritzker and I announced that we will lead a high-level delegation on an economic fact-finding trip to Poland and Turkey later this month. I am excited to participate in the first PEC fact-finding mission for the Obama administration.

That delegation — members of the President’s Export Council (PEC) — is the principal advisory committee on international trade to the president. It includes both public officials and private sector leaders.

The private sector leadership that will participate during the trip represent many of the most successful and important companies doing business globally today. That includes the PEC vice chair, Ursula Burns, Chairman and CEO of Xerox Corporation.

CEOs and senior executives from Lockheed Martin, Marriott International, Archer Daniels Midland, Boeing, Dow Chemical, eBay, IBM, and Pfizer, among others, will also participate in the fact-finding mission.

With Poland as the sixth largest economy in the EU, and Turkey tripling its GDP per capita since 2002, the trade and investment opportunities are plenty and promising, particularly as they relate to economic growth for American businesses.

After exploring potential opportunities in these countries, the PEC will report its findings to President Obama later this year. This trip is also an occasion for both the administration and American businesses to expand its presence in the field of commercial diplomacy. Working together as partners, we are deepening U.S. economic ties and continue to strengthen our presence on the global stage.

In fact, one of the reasons I am excited to lead ITA at this moment in time, is because I believe we have a significant role in shaping international economic priorities.

We can drive commercial diplomacy to new heights.

From our Doing Business in Africa campaign, which helps facilitate business deals that result in trade-based development for the continent and jobs for the United States, to our Look South Initiative, which is designed to increase trade and investment with our neighbors to the south, or trade missions that promote clean, renewable energy throughout the world, the linkages between our trade and our diplomatic priorities is clearer than ever.

For more information about the PEC, its members, or history, visit http://trade.gov/pec. Stay tuned for our report to the president.