Washington, DC – Three leading trade associations representing major U.S exporters today released a statement welcoming the Administration’s National Export Initiative (NEI), which President Obama announced during his State of the Union address last week. On the heels of a speech delivered this afternoon by U.S. Commerce Secretary Gary Locke detailing the goals of the initiative, the Coalition for Employment Through Exports (CEE), the National Foreign Trade Council (NFTC) and the U.S. Council for International Business (USCIB), applauded the Administration for launching the effort aimed at increasing U.S. exports.
“Exports help to fuel the U.S. economy, both directly by helping to boost our GDP and indirectly through job creation. Given the unemployment rate and the state of the U.S. and global economies, it is critical that the business community and the Administration work together on efforts aimed at generating jobs and economic growth. Exports are critical to achieving those goals, and we are pleased that the Administration has launched this new initiative,” said NFTC President Bill Reinsch.
The Commerce Department’s International Trade Administration (ITA) reports that exports accounted for nearly 13 percent of GDP in 2008 – up from less than five percent in the 1950s. In addition, nearly six million manufacturing and non-manufacturing jobs count on a healthy export environment for domestic manufacturers.
As Secretary Locke outlined today, the NEI will be a government-wide export promotion strategy with three key objectives: working to remove trade barriers abroad; expanding trade advocacy and connecting U.S. companies with new customers overseas; and assisting firms with export financing by improving access to credit – all with a focus on small- and medium-sized enterprises (SMEs). The NEI will also provide new funding to the Export-Import Bank, the ITA and the Department of Agriculture for expanded export promotion activities.
“We strongly support the President’s goal of dramatically increasing US exports,” said USCIB President and CEO Peter M. Robinson. “Working with our commercial partners to reduce barriers to trade and investment is a mutually beneficial way to achieve this goal, and will boost economic recovery and job creation.” Mr. Robinson cited the recent agreement between ITA and USCIB to promote awareness and use of the ATA Carnet system for temporary exports among smaller exporters as an example of beneficial public-private partnership in support of the President’s goal.
