Emerging and “next-tier” markets will be crucial to the growth of U.S. exports during the coming years. Six of those markets are the subject of a series of new videos now available online.
by John Ward, a writer in the International Trade Administration’s Office of Public Affairs.
U.S. exporters looking to learn more about how to enter emerging markets in Asia and South Asia now have a valuable introduction through a series of videos on Export.gov, the U.S. government’s export portal. The six videos, which were produced by the International Trade Administration’s Trade Information Center, run approximately three minutes each and examine export opportunities for U.S. companies in China, India, Indonesia, Taiwan, Thailand, and Vietnam.
Each video contains an interview with a U.S. and Foreign Commercial Service (USFCS) officer who outlines three things to know about his or her market and highlights sectors in which U.S. companies are especially competitive. The remarks are specifically targeted to U.S. companies—especially small and medium-sized enterprises—that may have not previously considered exporting to these markets.
For More Information
To see the six new videos, visit http://export.gov/nei/eg_main_033266.asp. Each market also has links to additional information. For more information, visit the U.S. government’s export portal at www.export.gov or call the Trade Information Center at 1-800-USA-TRAD(E) (1-800-872-8723).
“Three Things to Know about the India Market” features Judy Reinke, senior commercial officer, U.S. Embassy, New Delhi, India.
According to Judy Reinke, senior commercial officer in New Delhi and one of the commercial officers interviewed, U.S. companies have plenty of room to expand in a market such as India. “There is a growing and sustainable middle class [in India]. Right now, some 300 million people are in the middle class. Within 10 to 15 years that could reach 600 million.… We can help a company in any business sector where there is growth.”
A 2009 study conducted for the Department of Commerce found that 58 percent of U.S. exporters sell to only one market, mainly Canada. Along with countries with which the United States has signed a free trade agreement, emerging markets, such as the six highlighted in the videos, present some of the best opportunities for U.S. exporters because of their higher-than-average growth rates.
Meeting U.S. Export Goals
According to the International Monetary Fund, emerging economies are expected to post annual growth rates of more than 6 percent during the coming years, compared with a little more than 2 percent for the developed world. Expanding U.S. exports to those growing markets will be a critical factor in meeting the National Export Initiative’s goal to double U.S. exports by the end of 2014.
For each market in the videos, the Department of Commerce offers a variety of resources, and its in-country specialists stand ready to assist U.S. exporters. Don Nay, senior commercial officer in Hanoi, Vietnam, noted, “We have a lot of opportunities and a lot of success stories. We want to have more.”