The National Export Initiative Is Launched By The White House…can I Say I Told You So?
First I’d like to share this article from the Journal of Commerce website:
BEGINNING OF JOURNAL OF COMMER ARTICLE
White House Launches National Export Initiative
William B. Cassidy | Feb 4, 2010 9:46PM GMT
The Journal of Commerce Online – News Story
Global Trade | International | Import/Export | Washington | Customs | Regulation | Trade | Government + Regulation | United States
Commerce Secretary details inter-agency effort to lift exports to $3 trillion by 2015
Commerce Secretary Gary Locke today unveiled details of President Obama’s plan to double U.S. exports within five years to $3 trillion while creating 2 million U.S. jobs.
The National Export Initiative will combine trade advocacy with export control reform to increase exports and the number of companies exporting goods to more than one market, Locke said at the National Press Club in Washington.
“Many companies don’t have the resources to identify new markets and opportunities,” Locke said. He said 58 percent of U.S. exporters only ship goods to one country. “We’ve got to drive that up so those companies export to two or three markets,” said Locke.
The Commerce Department and several other federal agencies together will form an “export promotion cabinet,” Locke said. The agencies must report back to the president within 180 days, he said.
Locke said the White House is asking Congress to increase funding for trade promotion, including an additional $70 million for the International Trade Administration and $50 million for the Department of Agriculture in next year’s budget.
“We’re not just waiting for 2011 and the budget increases President Obama requested in his budget,” Locke said. “We’re focusing our resources now to increase exports today.”
The ITA plans to hire more than 300 trade experts to promote U.S. companies overseas and help more than 23,000 clients begin or grow their export sales in 2011, Locke said.
“American companies need advocates on the ground who will fight for business,” Locke said. The U.S. government, in the form of the ITA, needs to be “out there pounding the pavement” alongside U.S. companies, he said.
The export initiative will focus on promoting trade, getting financing to small exporters and stricter enforcement of international laws and agreements to ensure U.S. companies fair access to overseas markets and to fight counterfeiting.
Finding access to credit is a major obstacle for companies in the wake of the recession, Locke said. As part of the initiative, the Export-Import Bank will increase financing available to small businesses by $2 billion over the next year to $6 billion.
The bank authorized $1 billion in small business financing over the past three months, Locke said, to boost exports. It will coordinate with the Small Business Administration.
The export initiative will also focus on enforcing existing trade laws, “cracking down on theft of intellectual property rights through counterfeiting,” he said.
END OF ARTICLE.
There are many points on this article I would like to comment on: First of all, I am very glad to hear the US administration finally pointing out to what I have been advocating since last year…
Sorry to brag, but I’ll say it again: I told you so! I was right.
America has a lot to win in exporting, foreign countries especially developing countries need tons of machineries and equipments accross various industries.
One of the reasons America was devastated by this recession is that our manufacturers sort of ignored global markets for a long time now and it is finally catching up to us. Just look at China, they are number one exporters of many goods worldwide…and why is that? Because they focus on most demanded goods and were able to reduce their production costs, the result: they make goods cheap/export everywhere and take over markets. This is why today we owe them trillions of dollars.
And second point, as the article states it: many US companies don’t know how to identify new foreign markets and opportunities…and this is precisely what my company does for US manufacturers. We open these markets to American manufacturers: by being on the ground overseas, we keep getting feedback from foreign companies on what they prefer, what they need and ultimately what goods will help them be more profitable.
So as an export trading company, we…but what is an export trading company? Maybe this should be explained that more clearly: go to this link: http://www.ita.doc.gov/td/oetca/emcs.html
Now I can finish my thought, as an ETC we really zero in the most demanded products and equipments that boost productivity, reduce labor costs and are environmentally friendly. We just don’t sell anything to foreign markets, we want to really make a difference by our services and allow consumers to access markets they couldn’t access on their own.
And my third and final point is that as an international trade advocate, this initiative is very empowering to our industry as it facilitate our efforts in involving more companies, more partners and more support from the government agencies.
In this tangent, I would like to add another crucial point: foreign companies really want US goods and services, they trust American made stickers and would buy our goods if only they had access to our products. It is difficult to imagine but an African mining company cannot directly buy a JOHN DEERE BULLDOZZER directly…and why? Because JOHN DEERE doesn’t have a distributor in Senegal or Mali, also foreigners cannot order goods online (incompatible currencies, credit cards) and finally let’s not forget the language barrier.
So to conclude this article, an important point was brought up by the Secretary of Commer Locke that some intermediary companies need to “pound the pavement” on the overseas grounds, we must promote American goods and sell what is in demand…with our international offices, we fit that profile.
Thank you
About the Author
With 11 years of construction experience in the US and years of professional experience in West Africa, the author has extensive experience in problems within the respective industries in both continents. Some solutions can be beneficial to both continents while solving life-altering problems for some populations. Performance Consultants has a team of successful established business operators based in Africa and in the United States.
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