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Blog Category: Under Secretary for International Trade Francisco J. Sánchez

Working Locally to Boost Exports Nationally

Under Secretary Sanchez at the Brookings Institute (Photo Credit: Paul Morigi)

Guest blog post by Francisco Sanchez, Under Secretary of Commerce for International Trade

America is made up of different communities — each with its own character, challenges and opportunities.  Regional leaders have a unique view of these issues and bring to the table incredible insight into their respective regions.  That’s why the International Trade Administration (ITA) is firmly committed to working with these local leaders to utilize their insight, and ultimately help more American businesses expand into overseas markets.

This is important work because exporting supports American jobs, provides new opportunities for businesses, and makes significant contributions to the growth of the American economy. 

In recognition of these positive economic benefits, President Obama launched the National Export Initiative (NEI) in 2010 with the goal of doubling U.S. exports.  On the eve of the NEI’s two-year anniversary — officially on March 12 — I’m proud to say that we are on track to meet this goal.  Last year, there were a record $2.1 trillion in exports.  Plus, exports comprised nearly 14% of U.S. GDP — another record.

Progress has been made, and we are determined to keep it going.  Key to this work is our partnerships with local and regional partners.  While ITA has a talented and dedicated staff doing great work in 108 offices throughout the nation, we recognize that we can have an even greater reach through partnership.

Case in point: Our work with the Brookings Institution.

Today, Brookings’ Metropolitan Policy Program released a report called “Export Nation 2012: How US Metropolitan Areas Are Driving National Growth.”  

India Notes: New Partnerships Equals New Opportunities

Under Secretary Sánchez with inauguration participants

Guest blog post by Francisco J. Sánchez, Under Secretary for International Trade, International Trade Administration

There are amazing opportunities available to U.S. businesses in India.

That’s one of the main takeaways of my successful week-long trade mission focusing on Indian port infrastructure. Case in point: the two-way trade between India and the U.S. grew to $58 billion in 2011, and this upward trend is expected to continue in 2012.

The ports trade mission that we just concluded today–a first of its kind in India–was especially successful. Representatives from 12 U.S. organizations joined me on the trip, where we visited three different cities to facilitate as many partnerships as possible. The trade mission participants included dredging companies, port security companies, scanning technology providers, infrastructure, and transportation and logistics companies. With them the Ports of Baltimore and San Diego also joined to partner with companies and ports in India.

Working with Florida Businesses to Create an Economy Built to Last

Sánchez speaking with Vaughn after a White House Hispanic Community Action Summit

Guest blog post by Francisco Sánchez, Under Secretary of Commerce for International Trade, International Trade Administration

It’s always good to be back in my hometown of Tampa, Florida.

This morning, I was proud to participate in a powerful and productive discussion at a White House Hispanic Community Action Summit, which took place at the University of Tampa. It was another great opportunity for Obama administration officials and community leaders to exchange thoughts and perspectives about the challenges currently facing our nation.

Although a number of topics were discussed, there was one that was near the top of everybody’s agenda—the economy.

Sure, there’s been a lot of good news lately; all of us were very encouraged by today’s jobs report which showed that 257,000 private sector jobs were created in January and the unemployment rate fell to 8.3 percent.

Thanks to President Obama’s leadership, the United States has had 23 straight months of private sector growth, for a total of 3.7 million jobs over that period.

But, there’s still a lot of work to do to ensure that everybody who wants a job can get one.

North Carolina Manufacturing is Supporting an Economy Built to Last

Sanchez tours manufacturing plant in North Carolina

Guest blog post by Francisco J. SánchezUnder Secretary of Commerce for International Trade

Good things are happening here in North Carolina.  

Today, I’ve had the pleasure of spending some time in the Tar Heel state, visiting companies, meeting with business and community leaders, and seeing up close just how a thriving manufacturing sector is positively impacting jobs and the economy.

The morning began with a tour of Parkdale Mills, a yarn company that was founded nearly a century ago with one mill and less than 200 employees.

In the years since—despite all the changes that have occurred in the industry—Parkdale has done more than survived. It’s thrived. The numbers are staggering.

Exporting Products “Made in America” Supports Jobs Here at Home

Under Secretary Sánchez jwith representatives from U.S. companies who have partnered with the Department of Commerce on its New Market Exporter Initiative

Guest blog post by Francisco J. SánchezUnder Secretary of Commerce for International Trade

It’s been called the beginning of a manufacturing renaissance. 

As President Obama noted at yesterday’s “Insourcing American Jobs” forum, 334,000 manufacturing jobs have been created in the past two years. And, in the third quarter of 2011, manufacturing profits were up more than 7 percent compared to the first quarter.

These positive trends are very good news because manufacturing is a key to our economy. As the Department of Commerce’s report—“The Competitiveness and Innovative Capacity of the United States”—recently highlighted, in 2009, manufacturing made up more than 11 percent of GDP.

It employed nearly 12 million workers. And, these are good jobs. In the manufacturing sector, total hourly compensation is, on average, 22 percent higher than the services sector.

That’s why the Obama administration is firmly committed to working with the manufacturing industry to keep this momentum going.

Today, I had the honor of serving as the keynote speaker at the National Association of Manufacturers’ Council of Manufacturing Associations (NAM CMA) winter meeting.

I talked about the work we are doing at the International Trade Administration to support their efforts. Exports and manufacturing are intimately linked. U.S. businesses produce the best and most innovative products in the world. But, what good is a product if it sits on a shelf? Businesses need to sell them.

Secretary Bryson Promotes U.S.-Iraq Trade Opportunities at U.S. Chamber of Commerce

Bryson, al-Maliki promote trade (photo: U.S. Chamber of Commerce)

Today, Commerce Secretary John Bryson delivered remarks at a luncheon hosted by the U.S. Chamber of Commerce honoring Iraqi Prime Minister Nouri al-Maliki in Washington. In his remarks, Secretary Bryson pointed out a variety of resources available to U.S.businesses already in place to encourage and create ongoing trade and investment in a new area of relations between the two countries. These include the U.S.–Iraq Business and Investment Conference, Commerce-led trade missions to Iraq, the Iraq Task Force and Commerce’s Advocacy Center.

Commerce's Under Secretary for International Trade Francisco Sánchez led a historic business development mission to Baghdad in October, 2010. The trade mission brought together representatives from 14 U.S. companies with key Iraqi public and private sector decision-makers, including nearly 200 match-making meetings, to pursue investment and sales opportunities. The Department of Commerce had key involvement at the Baghdad International Trade Fair. There, the U.S. participated for the first time since 1988, showcasing 85 American businesses and organizations at the U.S. Pavilion–the largest foreign presence at the event.

“Working together we can continue to strengthen ties between our nations’ business communities," Bryson said. "For example, on Wednesday, we are facilitating a match-making event for U.S. firms to meet with the Iraqi companies visiting Washington with the Prime Minister. . . .  And, of course, we will continue working through the U.S.-Iraq Business Dialogue and with the U.S. Chamber of Commerce and the U.S.-Iraq Business Council, as Iraq continues to emerge as a promising market in the region.”

Al-Maliki highlighted the growing commercial ties with the United States and called for the U.S. business community to seize the investment and trade opportunities available in Iraq. Iraq is a promising and important emerging market–one that’s set to grow faster than China–and has needs that encompass everything from infrastructure to small consumer goods. Last year, Prime Minister al-Maliki announced Iraq’s five-year National Development Plan. The plan includes more than 2,700 projects worth about $186 billion and is aimed at diversifying Iraq’s economy away from oil. Meeting those needs can help create jobs here in the U.S.

Working with Florida’s Construction Leaders to Build New Opportunities for Communities

Sánchez speaking at LBA event in Miami

Guest blog post by Francisco J. Sánchez, Under Secretary of Commerce for International Trade Secretary, Department of Commerce

Entrepreneurs are a major key to U.S. economic growth. Their ideas, creativity and pioneering spirit are among our nation’s greatest resources, and are helping to pave the road to recovery. 

That’s why the Commerce Department, under the leadership of Secretary John Bryson, is firmly committed to supporting American business owners in every way we can.  And, our partnership with the private sector is essential to this work which is why I traveled to Miami, Florida earlier today to meet with the Latin Builders Association (LBA).

Founded in 1971, the LBA is the largest Hispanic construction association in the United States. They have shaped skylines, built neighborhoods and made a significant impact on the South Florida area. And, every day, leaders like them are doing great work on the ground to do more than just rebuild our communities; they are committed to building a better and stronger America.

Honoring Individuals Who Help Promote Peace and Commerce

Steve Calderia and Jack Earle with Acting Deputy Secretary Blank and Under Secretary Sanchez

Cross post by Cory Churches is a Communications and Outreach Specialist with the Office of Public Affairs in the International Trade Administration.

Today we recognized a few of the recipients of a unique award bestowed by the Under Secretary of Commerce for International Trade Francisco Sánchez. Eight individuals and organizations received the International Trade Administration’s Peace through Commerce Medal Award for 2011.

Jerry Levine, President of Mentor International, Steve Calderia, CEO of the International Franchise Association and Jack Earle, CEO of the International Franchise Association were on hand to receive their awards and spoke highly of the efforts of the Commerce Department and partners in promoting exports and jobs across America.

The award, reintroduced by Sánchez, recognizes an individual, group, or organization, either domestic or abroad, whose actions have significantly promoted and developed U.S. export initiatives, encouraged innovative approaches, and improved overall U.S. trade relations.

Promoting Competitiveness in the U.S.-Mexico Relationship

Sánchez on podium, gesturing

Guest blog post by Francisco J. Sánchez, Under Secretary of Commerce for International Trade Secretary, Department of Commerce

One billion dollars.

That number represents the two-way trade that happens between the United States and Mexico—every day. 

It’s a remarkable statistic, and a powerful symbol of the growing trade relationship and friendship between our two countries. Clearly, the story of the U.S. and Mexico is a story of progress. And, many from both countries are committed to ensuring that the next chapter of this story is full of greater opportunities for both peoples.

That’s why, earlier today, I was privileged to co-host the California Mexico Binational Mayor’s Conference with Los Angeles Mayor Antonio Villaraigosa.

We were joined by U.S. and Mexican government and business leaders who came together to identify ways to strengthen our trade relations. Thankfully, we already have a solid foundation to build on.

Combined two-way trade in goods and services was nearly $400 billion dollars in 2010. From the United States’ vantage point, Mexico is our third-largest trading partner. It’s our-second largest export market. And, in California alone, $21 billion in merchandise exports went to Mexico last year—15 percent of the state’s total merchandise. 

Clearly, this partnership has been a key to the success of President Obama’s National Export Initiative, which has the goal of doubling U.S. exports by the end of 2014. Last year, exports supported 9.2 million jobs—and Mexico has obviously helped fuel this positive economic activity. 

But, today’s global economy is moving fast. And, no country can afford to stand pat and be satisfied. We’ve got to keep changing and evolving. 

Highlighting Opportunities in India’s Renewable Energy Market

Sanchez on podium (video image)

Guest blog post by Francisco J. Sánchez, Under Secretary of Commerce for International Trade Secretary, Department of Commerce

India has a bright future in solar energy.

Its renewable energy market is currently valued at $17 billion dollars, and is growing at an annual rate of 15 percent.  And remarkably, there is potential for even bigger things.

According to one estimate, to keep economic growth at current levels, India will need to add 150 gigawatts of capacity over the next five years. Clearly, there is both a market and a need for clean energy in India.  And, U.S. companies have the technology and products to meet these needs and help spur economic development. 

It’s a natural partnership.  

That’s why, yesterday, during my keynote speech at SOLARCON India 2011, I urged all parties to consider new partnerships with each other so that we can build a clean future together.  

Hosted in the city of Hyderabad, the trade event brought together a wide-range of business leaders, academics and government officials to exchange ideas about the clean energy sector. Although estimates about the attendance are unavailable at this time, just last year, it drew over 4,000 people from over 30 countries.    

This year, there was incredible energy and excitement in the air. For U.S. firms, India’s solar market represents a huge opportunity to get involved in a booming sector in a growing market, resulting in thousands, if not millions, of jobs for people in both countries.