For Immediate Release: August 25, 2011
Contact: Tim Truman (202) 482-3809
Obama Trade Official Meets With California Congressional Leaders to Discuss Importance of Exports
Under Secretary Sánchez details how exports create jobs and strengthen business opportunities
WALNUT CREEK, Calif. – Small and mid-size companies can grow and prosper through exports was the theme of today’s meeting with Under Secretary for International Trade Francisco Sánchez and Representatives George Miller (CA-7), Jerry McNerney (CA-11), John Garamendi (CA-10). The discussion focused on how Bay Area businesses can become more competitive in the global marketplace and create jobs in California by exporting. Small and medium-sized businesses comprised more than 96 percent of California businesses that exported in 2008, and generated 44 percent of California’s total merchandise exports that year.
“Exporting is important to our economic future,” said Sánchez. “That’s why President Obama launched the National Export Initiative, or NEI, which mobilizes departments throughout the federal government to work together to help double U.S. exports by the end of 2014 supporting several million jobs.”
Sánchez spoke to more than 100 area businesses about the importance of exports and their role in helping to stabilize the economy. Additionally, he emphasized the positive impact that the pending free trade agreements with Panama, Colombia, and South Korea will have on California’s economy. Nearly 35 percent of California’s 2010 exports were to countries with which the United States has a free trade agreement. Exports from California to one free trade agreement partner, Chile, have increased by 272 percent since that trade agreement was enacted in 2004.
“This translates to millions of dollars in revenue for the state of California and thousands of jobs,” Sánchez said.
The International Trade Administration (ITA) supports the NEI through expanding the number of small businesses entering the world market – and increasing the value of exports for small businesses that are already exporting. In 2010, ITA’s U.S. and Foreign Commercial Service assisted more than 5,500 companies export for the first time or increase their exports – 85 percent of which were small and medium-sized businesses.
CONGRESSIONAL QUOTES ON TODAY’S EVENT
REPRESENTATIVE GEORGE MILLER (CA-7)
“When we invest in our schools, our infrastructure, our research and development, and make it in America, we not only create jobs but our kids will be able to 'make it' in America. Today’s forum represents the next steps we can take to create good jobs at home and support small businesses, entrepreneurs, and the middle class.”
REPRESENTATIVE JERRY MCNERNEY (CA-11)
“As a former small business owner, I know firsthand both the challenges our local businesses face and the great potential they have to create jobs. That’s why today’s event – which aims to give small and medium sized businesses the tools to export goods – is so important. This type of growth is key to our country’s economic future. Our country will be stronger and our recovery more certain when small businesses are expanding and creating jobs.”
REPRESENTATIVE JOHN GARAMENDI (CA-10)
“The International Trade Administration and Small Business Administration do terrific work in partnering with American businesses, so that they can prosper from international commerce. In particular, I commend the ITA and the SBA for their renewed emphasis on manufacturing as an enduring engine for job creation and economic growth. I look forward to working with them to export American products around the world.”
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.