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Blog Category: Los Angeles

Secretary Penny Pritzker Delivers Keynote Remarks at the U.S.-Saudi Business Opportunities Forum

 Secretary Penny Pritzker Delivers Keynote Remarks at the U.S.-Saudi Business Opportunities Forum

Today Secretary Penny Pritzker delivered keynote remarks at the U.S.-Saudi Business Opportunities Forum currently underway in Los Angeles, an event being hosted by the Saudi Committee for International Trade, the U.S.-Saudi Business Council, and the Saudi-U.S. Trade Group. The event brought together approximately 1,200 American and Saudi businesses, government officials, academics and opinion leaders to highlight the U.S.-Saudi commercial and trade relationship and inform participants about business opportunities in Saudi Arabia.

During her remarks, Secretary Pritzker noted that the United States and Saudi Arabia have a strong trade and investment relationship, and last year, trade between our two countries hit all-time record highs. Our bilateral trade is now triple what it was just a decade ago.

Secretary Pritzker also noted that the Commerce Department, over the past four years, has helped more than 450 U.S. companies export to Saudi Arabia for the first time. More such partnerships are expected as Saudi Arabia’s plans for infrastructure growth allow U.S. companies opportunities to team up to build strong and vibrant Saudi communities, she said.

Secretary Pritzker also met with staff from the Los Angeles U.S. Export Assistance Center, which is part of the Department of Commerce’s International Trade Administration (ITA). Her visit with USEAC employees was an opportunity to thank them for their work and part of her ongoing efforts to meet with Department of Commerce employees all over the country.

Deputy Secretary Blank Keynotes Operation HOPE 20th Anniversary Bus Tour

on podium, Deputy Secretary Blank keynotes Operation HOPE

Today, Deputy U.S. Commerce Secretary Rebecca Blank delivered the keynote address at the Operation HOPE 20th Anniversary Bus Tour ceremony in Los Angeles, California. She emphasized the importance of economic development and opportunity in the years following the Rodney King riots.

In 1999, the U.S. Department of Commerce awarded Operation Hope $200,000 to help bring more economic opportunities to a hard-hit area of Los Angeles. Since then, Operation HOPE has helped bring more investments, more economic opportunity, and more empowerment into underserved communities in Los Angeles as well as other cities around the U.S.

Deputy Secretary Blank also highlighted how the Recovery Act that President Obama signed in 2009 allowed the Commerce Department to provide $7.5 million dollars to the City of Los Angeles to install high-speed broadband connections and to place thousands of new computers at about 150 sites. As a result, about 130,000 people are using those computers every week–from students doing homework to unemployed workers applying for job.

She also emphasized the importance of access to education and mentoring for young people throughout the U.S. In particular, she called for preventing interest rates on student loans from doubling on over seven million students on July 1.

As an economist, the Deputy Secretary’s past work had focused on how America can address economic inequalities such as promoting more education, opportunities and jobs in underserved communities.