For Immediate Release: February 16, 2011
Contact: Mary Trupo (202) 482-3809
Obama Trade Official Francisco SÁnchez to Lead Education Trade Mission to Indonesia and Vietnam
American Colleges and Universities to Promote International Education Opportunities
WASHINGTON – As President Obama highlights education this week, Francisco Sánchez, Under Secretary of Commerce for International Trade announced he will lead the Department of Commerce International Trade Administration's education services trade mission to Indonesia and Vietnam, April 2-8, 2011. This will be Commerce's first services-only trade mission for the Administration since President Obama announced his National Export Initiative and reinforces the critical role education will play in enhancing the United States global competitiveness.
Representatives from 60 U.S. colleges and universities have been invited to join Under Secretary Sánchez to explore opportunities for international student recruitment and partnerships with higher education institutions in Indonesia and Vietnam. More than 20,000 students from these two countries currently attend U.S. colleges and universities.
"Expanding educational opportunities for students in emerging economies like Indonesia and Vietnam is critical to developing a middle class in these markets," Sanchez said. "These educated consumers will seek the higher quality products and services that American companies continue to provide."
Education and training ranks among the top 10 U.S. services exports. During the most recent academic year, tuition and living expenses from international students and their families brought in nearly $19 billion.
Indonesia and Vietnam are two key Asia Pacific Economic Cooperation economies that have been identified as markets where U.S. companies have increasing opportunities for exports during the next five to 10 years. Expanding the educational offerings for their students will provide direct benefits to U.S. companies doing business with these critical markets in the future.
"The direct positive economic impact of international students studying in the United States is only part of the equation," Sánchez said. "Many U.S. exporters expressly seek out U.S.-educated distributors overseas because of their understanding of the U.S. culture, English language skills, and the resulting increased ease of doing business with them."
With a population of 86 million, a steadily increasing per capita income, and the high value the Vietnamese place on education, Vietnam offers significant opportunities to U.S. providers of education services. Vietnam presently has more than 20,000 students studying abroad, paying about $200 million in tuition and fees every year. Vietnam ranks ninth among countries sending students to the United States.
Indonesia, as the world's fourth largest nation and one of the G-20's strongest economies, is a tremendous potential market for U.S. educational institutions. This mission supports President Obama's U.S.-Indonesia Comprehensive Partnership in which the education sector is the number one priority. The U.S. Embassy in Jakarta has a goal to double the current number of Indonesian students studying at U.S. educational institutions by 2014 to 15,000.
This trade mission advances President Obama's National Export Initiative which aims to double U.S. exports by 2015, supporting economic and job growth. The delegation will attend student recruitment fairs in each city; interview local agents that specialize in marketing U.S. educational institutions to students; and explore opportunities for partnering with local colleges and universities on educational programs.
The International Trade Administration actively promotes U.S. education as an export throughout its network of domestic and international offices. For additional information, please visit www.trade.gov/trade-missions.
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.
The International Trade Administration, U.S. Department of Commerce, manages this global trade site to provide access to ITA information on promoting trade and investment, strengthening the competitiveness of U.S. industry, and ensuring fair trade and compliance with trade laws and agreements. External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein. This site contains PDF documents. A PDF reader is available from Adobe Systems Incorporated.