For Immediate Release: August 17, 2010
Contact: Mary Trupo (202) 482-3809
SENIOR COMMERCE DEPARTMENT OFFICIAL HIGHLIGHTS PRESIDENT OBAMA’S NATIONAL EXPORT INITIATIVE TO ARKANSAS BUSINESSES
LITTLE ROCK, Ark. – Francisco Sánchez, under secretary of commerce for international trade, today explained how implementing President Obama’s National Export Initiative (NEI) can help the Arkansas economy and support local job creation. Sánchez joined U.S. Senator Mark Pryor and Representative Vic Snyder to deliver remarks at a roundtable discussion with Arkansas businesses in Little Rock.
In 2008, Little Rock-North Little Rock metropolitan area firms exported $1.4 billion of goods, accounting for more than 29 percent of Arkansas’ total exports.
“Exports support jobs in every state and greatly contribute to the strength of the American economy,” Sanchez said. “The President’s National Export Initiative will increase the exports of Arkansas-made products and services to strengthen your local economies and help the national economy continue its growth.”
In 2009, Arkansas exported more than $5.3 billion in merchandise, a 36 percent increase since 2005. This increase was more than twice the national average during that time frame. Canada and Mexico were the state’s leading export destinations in 2009, but emerging markets like China and Brazil are sourcing products from the state.
“There is obviously a lot to do to develop the opportunities that a growing global marketplace offers,” Sanchez noted. “We are working on growing market opportunities for every state in places like Brazil, China and India – three countries which all have growing middle classes that want to buy American products, goods, and services.”
Following the roundtable, Sánchez visited BioVentures on the University of Arkansas for Medical Sciences campus, and met with several emerging technology companies to discuss export opportunities and challenges in this important and expanding sector.
“Emerging technologies created in the United States, especially green and clean technologies, can generate new opportunities for American businesses in foreign markets,” Sánchez said. “Manufactured here at home, these products can be the engine driving the new jobs of the future.”
International Trade Administration
The International Trade Administration (ITA) is the premier resource for American companies competing in the global marketplace. ITA has 2,100 employees assisting U.S. exporters in more than 100 U.S. cities and 77 countries worldwide. For more information on ITA visit www.trade.gov.
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