For Immediate Release: December 9, 2009
Contact: Tim Truman (202) 482-3809
EXPORT PROMOTION LINKED TO JOB CREATION
WASHINGTON – The important link between efforts to increase U.S. exports and economic recovery through job creation highlighted testimony at today’s Senate Finance Committee, Subcommittee on International Trade, Customs, and Global Competitiveness hearing.
Rochelle Lipsitz, Acting Assistant Secretary for Trade Promotion and Director General of the International Trade Administration’s (ITA) U.S. and Foreign Commercial Service (CS) explained that Commerce Secretary Gary Locke is committed to increasing U.S. exports in the years and months ahead that will ultimately lead to creation of new high-paying jobs.
“Secretary Locke strongly believes in the link between exports and U.S. jobs,” Lipsitz said. “In 2008, the United States exported an astounding $1.84 trillion worth of goods and services, and we estimate that close to 10 million U.S. jobs were required to produce and ship these exports. The potential to expand our nation’s export capacity and job creation is tremendous.”
The Commercial Service’s vision is for every U.S. business to see the world as its marketplace, and it focuses on assisting small and medium-sized enterprises (SMEs) succeed globally. Lipsitz noted that less than one percent of U.S. companies export, and of those companies that do export, 58 percent export to only one market.
“Increasing this number, even by a small percentage, could have a big impact on the U.S. economy,” Lipsitz said. “U.S. firms that export are less likely to go out of business when the domestic economy slows or contracts.”
As part of ITA, CS helps American firms and workers navigate the often complicated and unpredictable waters of foreign trade so that U.S. firms’ sales abroad help to support jobs here in the United States. In fiscal year 2009, U.S. firms reported 12,335 export successes that were assisted by the Commercial Service; 832 of these successes were from companies that had never exported before, and 2,876 were from firms that exported to a new market. Nearly 85 percent of these successes were reported by SMEs.
Acting Assistant Secretary Lipsitz’s testimony is available at: https://www.trade.gov/speeches/lipsitz_120909.asp.
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