For Immediate Release: March 12, 2012
Contact: Mara Lee (202) 482-3809
Senior Commerce Official Highlights International Trade Opportunities for Baltimore Businesses
Signs 2 Memorandums of Agreement to Help Further Local Exporting Success, Support Local Jobs
BALTIMORE – Under Secretary of Commerce for International Trade Francisco Sánchez was in Baltimore today to mark the two-year anniversary of the President's National Export Initiative, an ambitious plan to double U.S. exports by the end of 2014. Baltimore was among the 50 largest export markets in the country in 2010 according to new data announced last week, with merchandise shipments totaling $5.2 billion.
“Exports are a bright spot in our economy, and are helping to fuel our economic recovery,” said Sánchez. “Today, as we observe the anniversary of the President’s National Export Initiative, we announced that an additional 1.2 million jobs were supported by U.S. businesses exporting since 2009. Here in Baltimore, exports are helping to support local jobs, local businesses, and are an important part of the region’s economic future.”
As the head of the U.S. Department of Commerce’s International Trade Administration (ITA), Sánchez signed two Memorandums of Agreement (MOA) with the Port of Baltimore and the Maryland Department of Business and Economic Development. The signing ceremony took place at Baltimore’s World Trade Center with Jim White, Executive Director of the Baltimore Port Authority, and Dominick Murray, Deputy Secretary, Maryland Department of Business and Economic Development.
“These partnerships are an important step forward in increasing coordination between federal, state and local partners,” Sánchez said. “As we celebrate the success of the National Export Initiative and its positive effect on our economy, we must also commit to ensuring that its momentum continues in Baltimore. Providing more opportunities and support for U.S. companies to export their goods and services makes good economic sense – and American workers deserve nothing less.”
The Port of Baltimore is among the top ports in the United States, handling more than 30 million tons of cargo and 400,000 containers annually. The Port was also one of 12 U.S. organizations that participated in the February 2012 trade mission organized by ITA and led by Sánchez to India. During this mission, the Port signed a sister-port Memorandum of Understanding (MOU) with the Mundra Port, in an effort to increase trade between the two ports. Two-way trade between India and the United States grew to $58 billion in 2011.
The Maryland Department of Business and Economic Development works closely with ITA and other federal agencies to coordinate export training for Maryland businesses. In October 2011, the State of Maryland received a federal award in the amount of $584,897 to increase small and medium-sized businesses’ participation in trade shows and missions, and other activities to promote exports from throughout the state.
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.