For Immediate Release: February 1, 2010
Contact: Mary Trupo (202) 482-3809
PRESIDENT’S INTERNATIONAL TRADE ADMINISTRATION BUDGET INCREASES EXPORT PROMOTION
WASHINGTON – President Obama’s fiscal year 2011 budget request for the International Trade Administration (ITA) includes funding for expanded export promotion activities that will support $4.4 billion in additional U.S. exports in 2011.
“President Obama has made the creation of good paying jobs through increasing U.S. exports of manufactured goods and services a national priority, and this budget request shows his confidence in ITA’s export promotion programs,” said acting under secretary of commerce for international trade Michelle O’Neill. “With 95 percent of the world’s consumers living outside the U.S. border, the requested budget will allow us to significantly increase our efforts to assist any U.S. company interested in exploring the opportunities provided by exporting its goods and services.”
The President’s $534.3 million request represents a 19.9 percent increase from the FY 2010 request, and an 18.2 percent increase from the FY 2010 budget enacted by Congress. The request is the highest ever for ITA.
President Obama requested $78.5 million to support ITA’s export promotion efforts. By increasing the number of U.S. firms that export and enabling them to increase their volume of exports, new higher-wage jobs will be created, and U.S. companies will be better able to compete in the expanding global marketplace. The proposed funding level will increase the annual number of small and medium-sized enterprises (SMEs) that export to a second or additional country by 40 percent from FY 2009 to FY 2011.
ITA hopes to expand the overseas presence of the U.S. and Foreign Commercial Service in high-growth markets such as China, India, and Brazil; enhance the innovative public-private partnerships that promote exports; improve outreach and guidance to SMEs that currently export to one market; increase the number and size of U.S. government-led trade missions focusing on critical industry sectors; and implement an export promotion strategy targeting top services sectors.
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 exporters in more than 100 U.S. cities and 77 countries worldwide. For more information on ITA visit www.trade.gov.