|FOR IMMEDIATE RELEASE
March 11, 2010
Michael Chapnick | (703) 875-4357
PRESIDENT OBAMA NAMES THE U.S. TRADE AND DEVELOPMENT AGENCY TO EXPORT PROMOTION CABINET
USTDA Announces International Business Partnership Program to Increase U.S. Exports
WASHINGTON, D.C. – Today, President Obama signed an Executive Order launching the National Export Initiative and establishing an Export Promotion Cabinet to better promote job creation through exports. As a member of the Export Promotion Cabinet, USTDA is committed to meeting the President's goal of doubling U.S. exports over the next five years.
During a speech at the Export-Import Bank's Annual Conference, the President noted that, "Many businesses want to export their products but just don't have the resources required to identify new markets or set up shop overseas. And that's where we can help. We'll bring together the Ex-Im Bank, the SBA, the Departments of Commerce and Agriculture, and the Trade [and] Development Agency to set up one-stop shops across the country and in our 250 embassies and consulates abroad, to help American businesses gain a foothold in the fastest-growing markets with the most demand."
Today, as a first step, USTDA launched the International Business Partnership Program (IBPP) (See Fact Sheet). Under the IBPP, the Agency will increase its support for programs designed to bring procurement officials to the United States to witness U.S. technology and ingenuity firsthand and develop the relationships with U.S. companies necessary to increase exports to emerging economies. By increasing investments in technology demonstrations, training and specialized sector-specific workshops and conferences, USTDA will help U.S. industry create high-paying export-related jobs.
The IBPP will have both short-term and long-term benefits to the U.S. economy. In the short-term, USTDA is putting SMEs to work today by helping define the requirements for sustainable development in emerging economies and making introductions to future sales opportunities. In the long-term, USTDA's program is supporting U.S. participation in large scale projects that benefit from U.S. exports, thus supporting U.S. jobs.
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The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries. The agency funds technical assistance, feasibility studies, training, reverse trade missions and business workshops to support development of modern infrastructure and a fair and open trading environment. USTDA's efforts create an enabling environment for trade, investment and sustainable economic development.