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- Winning the Future Through Exports
- Helping U.S. Manufacturers Expand Exports
- Freight Forwarders Support Push to Grow Exports
- ITA Win in Kenya
- Short Takes
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Short Takes: News from the International Trade Administration
Belgian Delegation Hears of U.S. Investment Opportunities
Members of a Belgian business delegation heard about the benefits of investing in the United States and expanding U.S.–Belgian trade when Michelle O’Neill, deputy under secretary of commerce for international trade, spoke at an investment seminar in Washington, D.C., on June 27, 2011.
“Companies invest in America because it represents the world’s largest fully developed single-country economy and because our labor pool is one of the best educated, most productive, and most innovative in the world,” noted O’Neill. “We are a global leader in science and technology and a center for innovation. We reward creativity, and we safeguard it by a strong intellectual property rights protection and enforcement regime.”
The Belgian embassy and SelectUSA, a new Department of Commerce initiative that was announced on June 15, 2011, organized the event. SelectUSA is the first-ever governmentwide program at the federal level designed to aggressively pursue and win new business investment in the United States for domestic and foreign companies.
Foreign-owned companies play a significant role in U.S. exports. In 2009, about 18 percent of all U.S. exports came from U.S. subsidiaries of foreign-owned firms. Their growth will be an important factor in doubling U.S. exports by the end of 2014, which is a goal of the National Export Initiative.
During the delegation’s nine-day visit to the United States, its 300 members, who were led by Prince Philippe of Belgium and several regional ministers, also visited Boston and New York City. Many of the representatives were from the biotech and pharmaceutical sectors and attended the BIO 2011 convention while in Washington, D.C.
Historically, Belgium has been one of the most reliable commercial partners of the United States. In 2010, bilateral trade totaled more than $40 billion, with Belgium ranking as the 14th-largest goods export market for the United State. With a population of fewer than 11 million, Belgium is the 10th-largest source of investment, with a U.S. investment of more than $45 billion. In 2010, Belgian firms employed more than 180,000 workers in the United States.
For more information about SelectUSA, visit www.selectusa.gov.
Nicole Lamb-Hale, assistant secretary for manufacturing and services, shown here in a file photo, spoke to representatives from more than 150 companies in Wichita, Kansas, on June 2, 2011. The gathering was organized by the Department of Commerce as part of the national “New Markets, New Jobs” tour that is designed to connect small and medium-sized enterprises with the resources they need to sell overseas. (U.S. Department of Commerce photo)
On June 2, 2011, representatives from more than 150 Kansas companies heard about the economic opportunities of international trade when they met with senior federal officials at the “Export Now: New Markets, New Jobs for Kansas” event in Wichita.
“President Obama challenged the nation to double U.S. exports by 2015 because the simple fact is that the more American and Kansas companies export, the more they produce,” noted Nicole Lamb-Hale, assistant secretary for manufacturing and services, in a keynote speech she delivered at the event. “The more they produce, the more workers they need. And that means jobs—good-paying jobs here at home.”
This event was the fifth in a series of gatherings organized as part of the national “New Markets, New Jobs” tour, which is an interagency, multicity outreach campaign spearheaded by the Department of Commerce (see the March 2011 issue of International Trade Update). It is specifically designed to connect small and medium-sized enterprises with the resources they need to sell overseas.
The message was well received by participants. Karyn Page, chief executive officer of the Kansas World Trade Center, remarked, “Bringing together federal, state, and local export resources and experts in one place for the benefit of Kansas exporters is sure to result in increased exports. The National Export Initiative, and Kansas’ own initiative to increase its exports, [will be] a large part of the prescription to heal our ailing economy and bring needed jobs.”
Kansas has a vigorous export sector, with a particularly strong aviation sector. In 2010, exported goods from Kansas totaled $9.9 billion, up 11 percent over 2009. This growth continued in the first quarter of 2011, with exports of goods totaling $2.6 billion, up 11 percent compared to the first quarter of 2010. In 2009, the Wichita metropolitan area accounted for nearly half of merchandise exports from Kansas.For news of upcoming “New Markets, New Jobs” events, visit the home page of the National Export Initiative at www.export.gov/nei.
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