Archive for the ‘World Trade Month’ Category

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Partnering to Go Global: ITA & Baruch College

May 27, 2016

Jamie Merriman is the Acting Director of ITA’s Office of Strategic Partnerships

Baruch College, an ITA Strategic Partner, is empowering its students and solving real-world business problems through an innovative program with ITA’s U.S. Export Assistance Center (USEAC) in New York City.  Students in Professor Rajeev Sawant’s capstone class in the undergraduate international business major have an opportunity to assist local businesses that are clients of the USEAC with their strategy for entering international markets.

One of the Baruch international business capstone teams at World Trade Week NYC 2015

One of the Baruch international business capstone teams at World Trade Week NYC 2015

As part of their capstone class, the students work on a real-life case applying their theoretical learning to help a local company go global. This ‘live case’ method of teaching has provided practical help to real companies in NYC.

One company, Beauty Solutions, asked the students to identify the most promising new export markets for its lipstick brand.  The students researched various markets, analyzing the level of interest in U.S. products, the stability of the local currency, and the percentage of shopping done via television, as well as other factors.  The students developed a methodology to rank the researched markets and presented their findings to Jerry Rauchwerger, the President of Beauty Solutions and a Baruch alum, at the conclusion of the course.  Beauty Solutions found tremendous value in the students’ advice, and is utilizing their recommendations in planning its international marketing strategy.

The capstone program has provided actionable market insights to other businesses in the NYC area – and even generated employment opportunities for some enterprising students!  The students also supported ITA and Baruch last week during World Trade Week NYC.

ITA Strategic Partners like Baruch College provide critical linkages between ITA and U.S. businesses, helping us to reach more exporters and arm them with the information they need to succeed in today’s globally competitive marketplace.  ITA’s mission to strengthen the competitiveness of U.S. industry and promote trade and investment strengthens the U.S. economy, supports U.S. jobs, and fosters long-term, sustainable growth.

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World Trade Week NYC: Celebrating a rich history of export success

May 26, 2016

Elizabeth Montaquila is a U.S. Field Communications Specialist in the U.S. Commercial Service. 

Last week, Under Secretary Selig returned to his roots in Manhattan to celebrate World Trade Week and honor three New York companies for their international trade contributions to economic growth and job creation in the New York City metropolitan region.

The 2016 World Trade Week Awards Breakfast, U/S Selig presents Bob Frank with the award for Bob Frank Entertainment.

The 2016 World Trade Week Awards Breakfast, U/S Selig with Daniel Kuster of  Bob Frank Entertainment and Trade Specialist Peter Sexton.

Under Secretary Selig highlighted the Tri-State area’s history as a leader in trade and investment, which still continues today. In the six years since the economic recovery began in 2009, the New York City metropolitan area was ranked in the top five—out of 388 metropolitan areas across the United States—as the largest goods export hub in the country.

Contributing to the export success of the metropolitan area, are the three New York-based companies honored by the Under Secretary:

  • Beauty Solutions, a designer of high quality beauty products, was recognized for its successful entry into the international market. Offering anti-aging skincare products as well as an assortment of unique niche cosmetics, Beauty Solutions recently expanded into the Chinese market by contracting with the Chinese eCommerce site VIP.com.
  • M3 Technology, a small business specializing in the supply of hardware chemicals, electronics and other consumable products recently expanded into several European markets. After carefully assessing three specific markets, M3 signed a contract with MecaAero Consulting, a French company, to begin promoting M3 Technology throughout Europe.
  • Bob Frank Entertainment is a full service entertainment company that includes record labels, a music publishing company, and a film division. Created in 2012, Bob Frank Entertainment has expanded its international distribution networks, facilitated in part, through the company’s participation in trade missions to France, Canada, Brazil, and China. Already, as a result of their export expansion efforts, Bob Frank Entertainment has an estimated $1 million in new export and licensing sales, and has created an additional two new jobs in New York City.

While the goods and services provided by each of these award-winning companies may vary, one thing they all have in common is their participation in programs offered by the U.S. Commercial Service (CS).

“The Commercial Service offices in the New York metropolitan area are honored to see our clients recognized for their tremendous export achievements,” said Carmela Mammas, CS Manhattan Director. “All of our Commercial Service trade specialists are dedicated to providing the highest quality support and services to U.S. companies looking to grow their business internationally. Congratulations to Beauty Solutions, M3 Technology, and Bob Frank Entertainment on their well-deserved awards.”

CS offices in New York and Guangzhou China provided Beauty Solutions with market intelligence, guidance, introductions, and support of the company’s expansion into the Chinese Market. M3 Technology, a client of CS Long Island, relied on market analysis and matchmaking services provided by the U.S. Commercial Service, as did Bob Frank Entertainment, through their participation in international trade missions.

“We are thrilled to receive this Export Achievement award,” said Bob Frank, Founder/CEO of Bob Frank Entertainment. “We’d like to thank the Commercial service, without whose support this would not have been possible.”

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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.

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Going Global: A Virtual Toolkit for Small Businesses

April 29, 2016

Ashley Zuelke is the Senior Advisor for Export Policy, Promotion and Strategy at the International Trade Administration.  

World Trade Month logoIn recognition of World Trade Month in May, communities across the country will focus on the importance of trade and its ongoing contribution to U.S. economic and job growth. The first week of May recognizes National Small Business Week, a fitting start to the month given the role of America’s small and medium-sized business which fuel our economy. These businesses make up the vast majority of U.S. exporters and an increasing share of the value of U.S. exports.

For many small U.S. companies, however, the path to expanding globally requires a large time investment and management commitment. Many firms are not sure where to begin, who to talk to, or how to navigate available resources. As a part of the National Export Initiative/NEXT and the Trade Promotion Coordinating Committee, U.S. government agencies are committed to helping businesses tackle these challenges, and have produced a streamlined guide of federal export resources. The tools and resources we provide help answer questions regarding how to:

  1. Identify markets through independent research
  1. Assess markets of interest
  • Country Commercial Guides provide market intelligence and guidance on doing business in specific markets around the world.
  • StopFakes.gov and its Online Training Module is a good starting point for learning how to protect your Intellectual Property (IP) in markets of interest.
  • Talk to an expert:
  1. Make Connections
  • The U.S. Commercial Service can also help with:
    • Conducting background checks on potential buyers and distributors.
    • Connecting your business with pre-screened potential overseas partners.
    • Promoting your product or service to prospective buyers at trade events worldwide.
    • Meeting with international industry and government decision makers in your target market(s).
    • Navigating cultural differences.
  • Exhibit at U.S. trade shows: ITA recruits and vets foreign buyer delegations for certain shows.
  • Showcase at an overseas trade show in U.S. pavilions: Go to export.gov and search events.
  • See if your state is an awardee of the State Trade Expansion Program (STEP) matching-fund awards from the Small Business Administration. State awardees administer STEP funds to help small businesses enter and succeed in the global marketplace.
  1. Take Advantage of Financing and Insurance
  1. Navigate mechanics

    Basic Guide to Exporting Cover

    Download “A Basic Guide to Exporting” Now!

  • Making international sales online? Learn about eCommerce mechanics.
  • The U.S. Commercial Service can also help with:
    • Understanding export documentation requirements and import regulations of foreign markets.
    • Navigating U.S. government export controls, compliance, and trade financing options.
    • Overcoming trade obstacles to successfully enter international markets.
  • Logistics resources and guidance: http://www.export.gov/logistics
  • When you export any good valued at over $2,500 (or requiring a license), you must submit information on the shipment to the Automated Export System (AES). Get help on filing AES, classifying merchandise, regulations and trade data by calling 1-800-549-0595. More information available on the Global Reach blog.
  • Screen potential buyers and partners to make sure you can do business with them and that they are not on one of the U.S. government denied parties or export control lists.

All of this information and more is available through “A Basic Guide to Exporting.” SBA also has an online tool to help you develop your Export Business Plan.

Exporting can be an important way to grow your business and your bottom line. These available tools are at your disposal to help you succeed in the global marketplace.

For more information on U.S. government export programs and services, visit www.export.gov.

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President’s “E” Awards Recognize the Importance of Exporting To “Main Street” America

May 19, 2015

This post originally appeared on the Department of Commerce blog.

U.S. Secretary of Commerce Penny Pritzker Presents U.S. Companies with President's "E" Award for Export Success

U.S. Secretary of Commerce Penny Pritzker Presents U.S. Companies with President’s “E” Award for Export Success

Today, U.S. Commerce Secretary Penny Pritzker honored 45 American companies and organizations at the 2015 President’s “E” Awards ceremony.  The President’s “E” Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports.

Exports are critical to spurring economic growth and job creation and this year, 26 companies were honored with the “E” Award for Exports for demonstrating a sustained increase in export sales over a four-year period. This year’s ceremony also honored, twelve companies with the “E” Award for Export Service for their work assisting and facilitating export activities, and another four firms received the “E” Star Award for Exports, which recognizes previous “E” Award winners who have reported four years of increased export growth. Secretary Pritzker also awarded three companies with the “E” Star Award for Export Service, which recognizes previous “E” Award winners that have shown four years of continued support of exporters since first winning the “E” Award.

Winners of the 2015 “E” Awards represent diverse communities in 20 states across the country including Van Nuys, Calif.; Edina, Minn.; Gilbert, Ariz.; Chicago, Ill.; Sanford, Fla.; and Ellington, Conn. Among the awardees were 35 small- and medium-sized businesses and 21 manufacturers representing a cross-section of American ingenuity and innovation.

This year’s award recipients include Chicago-based Garrett Popcorn which sells gourmet popcorn from retail shops, and has expanded to sell their products throughout Asia and the Middle East; Nanci’s Frozen Yogurt of Mesa, Arizona, which makes and sells soft serve, flavorings, and smoothie mixes to frozen yogurt chains and restaurants in dozens of countries around the world; and Hernon Manufacturing, Inc. of Sanford, Florida, which makes high-performance adhesives, sealants,  and precision processing equipment, and exports to 44 countries. Each of this year’s “E” Award companies are selling high-quality products and services in every corner of the world and most importantly, are helping to create good jobs for American workers.

Many of the “E” Awardees are able to conduct business internationally as a result of the 14 Trade Agreements with 20 countries currently in place. The Obama administration is working closely with Congress to pass trade promotion legislation, which outlines Congressional priorities on trade agreements, so that the deals currently being negotiated can be put in place.

The “E” Award ceremony is one of the highlights of World Trade Month, a month-long celebration of the benefits that U.S. exports bring to national, state, and local economies through job creation and growth. This year marks the 53rd annual “E” Awards presentation, which recognizes companies for their contributions to increasing U.S. exports. In 1961, President Kennedy signed an executive order reviving the World War II “E” symbol of excellence to honor and provide recognition to America’s exporters.

American companies are nominated for “E” Awards through the U.S. and Foreign Commercial Service office network, located within the Department of Commerce’s International Trade Administration. Record years of successive export growth and an applicant’s demonstration of an innovative international marketing plan that led to the increase in exports is a significant factor in selecting winners.

For the full list of 2015 “E” Awardees, visit http://1.usa.gov/1AaVUur

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World Trade Month: Reflecting on How Trade and Investment Lift the U.S. Economy

May 5, 2015

This post originally appeared on the Department of Commerce blog.

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

Shipping containers on a dockMay is World Trade Month. Every year at this time, we acknowledge the importance of trade and investment, and reiterate our commitment to the workers and businesses that sustain our country’s competitive advantages.

And given the records we achieved last year, this World Trade Month offers an excellent opportunity to reflect on how trade and investment lifts the U.S. economy.

For the fifth straight year, we set a record for annual exports. In 2014, we shipped out $2.34 trillion in goods and services. Those exports accounted for 13.4 percent of total GDP, compared to 7.5 percent 30 years ago.

U.S. jobs supported by exports also produced record numbers in 2014—11.7 million jobs. And those export supported jobs pay on average between 13-18 percent higher wages than non-export supported jobs.

As more American businesses, including small- and medium-sized enterprises (SMEs) continue to increase exports to the 96 percent of consumers who live outside the U.S, we will see the trends of economic growth and job creation continue. That is why the entire administration is focusing its efforts on making trade promotion legislation a reality, which will give the President the same authority to negotiate trade agreements that every president has had since Franklin D. Roosevelt.

Events honoring World Trade Month, as well as assisting U.S. companies in their exporting efforts, are happening across the country.

Here are just a few of the events taking place this month:

  • May 2-10: National Travel and Tourism Week: recognizing the travel and tourism industry, our largest service export sector.
  • May 4-8: National Small Business Week: honoring America’s entrepreneurs since 1963. SMEs make up 98 percent of our country’s exporters.
  • May 12-14: Discover Global Markets: the Americas, in Miami, Fla.: connecting U.S. businesses with market opportunities in Central and South America.
  • May 16-22: Department of Commerce trade mission to Egypt, Jordan and Israel: focusing on export opportunities in the areas of health care equipment, services and technologies.

And trade promotion seminars throughout the country are currently being held. These seminars help first-time exporters connect to new markets and help experienced exporters connect to more markets. We encourage businesses to contact their nearest Export Assistance Center to find out about events in their local areas, or to speak to an export or industry specialist.

I encourage you to follow the International Trade Administration on Twitter at @TradeGov where we will highlight many of the great events taking place this month.

Finally, thanks to all of the exporters who made 2014 the record year it was. We salute you on this World Trade Month.

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Celebrating International Trade in Maryland

June 3, 2014
John Malone of WTS International accepts an Export Achievement Award from Jolanta Coffey of the Export Assistance Center in Baltimore, Md.

John Malone of WTS International accepts an Export Achievement Award from Jolanta Coffey of the Export Assistance Center in Baltimore, Md.

Jack McCutcheon and Paul Matino Support Maryland Businesses at the Baltimore Export Assistance Center.

International exporting can seem daunting to many large and small businesses because they are unsure how to successfully take advantage of opportunities abroad.

Last week, at the 2nd Annual Celebration of International Trade, speakers provided veteran insight about the realities of doing business beyond the borders of the United States. The celebration was in honor of International Trade Month and brought together ambitious Maryland businesses for the chance to learn more about growing their companies.

The celebration provided information and discussions on international financial considerations, risk management, logistics, and legal concerns of international exporting. Dominick Murray, Secretary of the Maryland Department of Business & Economic Development, stressed the fact that currently less than 10 percent of Maryland companies participate in exporting.

Laura Lane, President of Global Public Affairs for UPS, noted that 95 percent of the world’s consumers live outside the U.S., and that optimizing international commerce through the establishment of modern and effective free-trade agreements will be critical for the continued strength of the U.S. economy.

Between the educational seminars, the annual award ceremony honored an exemplary exporter in the DC-Maryland region, John Malone, who is the General Counsel and Vice President of Compliance and Quality Assurance at WTS International. WTS was this year’s recipient of the U.S. Commercial Service’s Export Achievement Award, and also also was recognized by Sen. Barbara Mikulski’s office.

Maryland District Export Council Members Carl Livesay and Maryjane Norris were also presented with awards recognizing their contributions to business.

Many of the celebration’s speakers noted that succeeding in foreign markets can be easier than it seems. With the right information, proper planning, and assistance from the state, doing business abroad can be both a great contribution to the bottom line, and good reason to return for the 3rd Annual Celebration of International Trade next year.