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Blog Category: International Trade Administration

Commerce Secretary Pritzker Begins Business Development Mission to Japan and Seeks Opportunities for U.S. Companies in Health Care and Energy Sectors

Commerce Secretary Pritzker Begins Business Development Mission to Japan and Seeks Opportunities for U.S. Companies in Health Care and Energy Sectors

U.S. Secretary of Commerce Penny Pritzker today began a five-day Business Development Mission to Japan and South Korea and met with Japanese leaders in Tokyo to address opportunities for U.S. companies to launch or increase their business in the health care and energy sectors. Due to a lack of natural resources, both Japan and South Korea have long been dependent on imported energy sources to meet their energy needs.

During her first day in Tokyo, Secretary Pritzker was joined by U.S. Ambassador Caroline Kennedy and the business delegation in several bilateral meetings with Japanese leaders.  During her meeting with Japanese Prime Minister Shinzo Abe, Secretary Pritzker commended him on his government’s commitment to reform throughout his two years in office, and noted that American businesses are eager to partner with Japan in the country's ongoing efforts to reform and strengthen its health care and energy sectors. She also praised Prime Minister Abe for his vision in entering the Trans-Pacific Partnership negotiations, and she discussed the need for the U.S. and Japan to be creative and bold as the countries enter the final stages of the negotiations.

Following her meeting with the Prime Minister, Secretary Prtizker met with Japan’s Minister of Health, Labor and Welfare Yasuhisa Shiozaki. During the meeting she addressed the importance of continued engagement on medical device and pharmaceutical issues, stressing the concerns the industry has with annual price revisions in the medical devices and pharmaceutical sectors.  She also thanked the Minister for Japan’s cooperation on vaccine issues and stressed the need for continued cooperation on Ebola response efforts.

U.S. Secretary of Commerce Penny Pritzker Leads Business Development Mission to Japan and South Korea

Home to nearly 60 percent of the world’s GDP and the fastest growing economies, the Asia-Pacific region offers a wide array of opportunities for United States businesses and workers. To further improve the U.S. economy, the Obama Administration recognizes the critical importance of strengthening its well-established trading partnerships in the region, particularly with Japan and South Korea.

With the fourth and thirteenth highest GDP respectively, Japan and South Korea are highly developed, stable markets for trade and investment. The healthcare sector in both countries is expanding quickly to meet rising demand. In Japan, there is a rapidly-aging demographic profile, with a population aged above 65 years, which will increase from 25.1 percent in 2013 to 29.2 percent by 2023. In addition, South Korea is emerging as a hub for global medical tourism by attracting and training world-renowned doctors and developing more advanced clinical trials.

To take advantage of these growing market opportunities, U.S. Secretary of Commerce Penny Pritzker will leave tomorrow for Asia to lead 20 American firms on a Business Development Mission with stops in Japan and South Korea. The business delegation includes small and big companies, such as C3 Energy, HPI, and Oregon. The mission will focus on expanding opportunities for U.S. businesses in the healthcare and energy sectors and will also look for ways to help the region develop and manage energy resources and systems, and build out power generation, transmission, and distribution.  

As the voice of business in the Administration, the U.S. Department of Commerce, plays a pivotal role in expanding market access for U.S. companies in countries around the world. Specifically on this mission, Secretary Pritzker and American businesses will meet with Japanese and South Korean business leaders in the medical device, biotechnology, regenerative medicine, energy and health IT sectors to explore opportunities for partnership and investment.

The Commerce Department is committed to creating more opportunities for American businesses to flourish both at home and abroad. During the mission, Secretary Pritzker will also focus on reinforcing trade agreements that reflect our values, such as the Trans-Pacific Partnership (TPP) and U.S.-Korea Free Trade Agreement (KORUS), that will help U.S. firms gain greater access to the Japan and South Korea markets.

This will be Secretary Pritzker’s first trade mission to Asia since taking office in June 2013 and will promote U.S. exports to Japan and South Korea by helping American companies launch or increase their business in these key markets.  The mission will make stops in Tokyo, Japan and Seoul, South Korea.

Expanding U.S.-China Commercial Relations Remains a Top Priority

ITA Trade Specialists Meet with U.S. Exporters at the DISCOVER GLOBAL MARKETS: Greater China and Gateway Countries forum

The U.S.-China commercial relationship remains one of great success and growing potential, despite continuing challenges.

That’s the major takeaway after two weeks of heavy focus on China at the Department of Commerce’s International Trade Administration (ITA).

It began with the DISCOVER GLOBAL MARKETS: Greater China and Gateway Countries forum Oct. 7-8 in New York City, during which our global team provided export guidance to more than 300 business representatives looking to export to the region.

Then this week, Under Secretary of Commerce for International Trade Stefan M. Selig visited Shanghai and Beijing in advance of the U.S.-China Joint Commission on Commerce and Trade (JCCT) high level meetings that the Department of Commerce will host along with the Office of the U.S. Trade Representative in the United States later this year.

While in China, Under Secretary Selig participated in JCCT Vice-Ministerial meetings with China’s Ministry of Commerce, and co-chaired the JCCT U.S.-China Industries and Competitiveness Dialogue with Deputy U.S. Trade Representative Robert Holleyman and China’s Vice Minister of Information and Industry Technology Liu Lihua.

Spotlight on Commerce: Jose "Pepe" F. Burgos, Director U.S. Commercial Service-Puerto Rico

Jose "Pepe" F. Burgos, Director U.S. Commercial Service-Puerto Rico

Ed. note: This post is part of the Spotlight on Commerce series highlighting members of the Department of Commerce and their contributions to an Economy Built to Last in honor of Hispanic Heritage Month

Guest blog post by Jose "Pepe" F. Burgos, Director U.S. Commercial Service-Puerto Rico

My name is Jose F. Burgos. My nickname is Pepe and I was born in San Juan, Puerto Rico. My mother was from the town of Aguadilla in the west part of the island, and my father was from Humacao on the opposite side of the island. I was raised in Aguadilla by my mother and brothers after my father passed away when I was four years old. When I was 13 years old, my mother and older sister passed away in a car accident. Then I was raised by one of my cousins and their family. I have one brother who lives in Baltimore and we are very close. I was blessed to grow in a very family-oriented environment surrounded by my cousins and friends.

At first I wanted to be a doctor, but when I start studying and got to physics and organic chemistry, I realized medicine was not for me. I decided to study business, but I was not sure what kind of business. I decided to study international business with the main purpose to obtain a job to travel around the world.

Eleven years into my career, I realize how big international business can be – that it is more than traveling and is a daily learning experience. I worked three years in the Puerto Rico Trade Company and I have been currently working for the past eight years as Director of the U.S. Commercial Service in Puerto Rico. 

My passion for international commerce grew during my academic years, ultimately leading to my earning a Master’s Degree in Business Administration with a concentration in International Business & Marketing from the Pontifical Catholic University of Puerto Rico and a professional development certification from the Kennedy School of Government at Harvard University in International Trade Policy.

It has been a rewarding and amazing opportunity to be able to do what I always wanted to do and work in the field that I studied. 

Since 2006, I have been working as Director of the US Department of Commerce for Puerto Rico and the Virgin Islands. I have assisted companies from Puerto Rico and the Virgin Islands in exporting to countries around the world, and provided advice with all the logistic components, including market intelligence, trade counseling, business matchmaking, and advocacy/commercial diplomacy support.

My support has helped companies survive difficult economic times and helped them be among the companies that are creating new jobs for residents in the islands.

Secretary Pritzker and CEOs from the President’s Export Council Explore Market Opportunities with Turkish Business Leaders

Secretary Pritzker and CEOs from the President’s Export Council Explore Market Opportunities with Turkish Business Leaders
After a productive stop in Poland, Secretary Pritzker traveled to Turkey with CEOs from the President’s Export Council (PEC) to explore opportunities for U.S. firms interested in the market and address outstanding challenges to expanding bilateral trade and investment. 
 
While the United States and Turkey have sustained deep strategic and diplomatic ties for decades, both countries want to expand their economic and commercial relationship. In 2009, President Obama visited Turkey and established the Framework for Strategic Economic and Commercial Cooperation (FSECC) with then-Prime Minister of Turkey Tayyip Erdogan. The two leaders tasked the U.S. and Turkish governments to create a framework to help substantially increase the trade and investment flows between both countries to help strengthen the economic dimension of our partnership. Now, Secretary Pritzker and the PEC CEOs -- serving as commercial ambassadors -- are working to expand and strengthen this relationship through meetings with Turkish government and business leaders in Istanbul and Ankara.
 
In Istanbul, Secretary Pritzker delivered remarks to more than 200 Turkish business leaders and guests at the AmCham/American Business Forum in Turkey (ABFT) 10th Anniversary gala. She noted that progress has been made in the U.S.-Turkey commercial relationship, with total bilateral trade in 2013 just under $20 billion.  

She also stressed three challenges U.S. businesses face in the Turkish market that must be addressed: greater transparency in government procurement; commercial offsets – a policy that forces companies to produce locally; and the ability to obtain Good Manufacturing Practices certification. Ilker Ayci, President of Turkey’s Investment Promotion Agency, also shared Secretary Pritzker’s sentiment that the United States and Turkey must work together now to address current obstacles.

U.S. Commerce Secretary Prizker Co-Chairs Economic and Commercial Dialogue with Poland’s Deputy Prime Minister Piechocinski

U.S. Commerce Secretary Prizker Co-Chairs Economic and Commercial Dialogue with Poland’s Deputy Prime Minister Piechocinski

Yesterday, U.S. Secretary of Commerce Penny Pritzker joined Polish Deputy Prime Minister and Minister of Economy Janusz Piechociński in co-chairing an Executive Session of the Economic and Commercial Dialogue (ECD). The ECD is a forum created by the U.S. Department of Commerce and the Polish Ministry of Economy to work specifically on strengthening the ability of our companies and investors to do business in each other's markets. Secretary Pritzker is traveling with a delegation of some of America's top CEOs who are members of the President's Export Council.            

At yesterday's meeting, Secretary Pritzker and the PEC CEOs addressed collaborative and tangible ways to increase trade and investment between the U.S. and Poland, particularly as Poland's economy continues to grow. Poland currently has the sixth-largest and one of the fastest growing economies in the EU, and growth is projected to continue in 2014. While bilateral trade between the U.S. and Poland has quadrupled over the past 10 years, reaching nearly $8.8 billion in 2013, there is tremendous opportunity for continued growth.

One mechanism to increase trade and investment between the U.S. and Poland is the Transatlantic Trade and Investment Partnership (TTIP), which is currently being negotiated between the United States and the EU. Once concluded, TTIP will combine the U.S. and EU markets into a stronger transatlantic marketplace, with more than 800 million customers. The U.S. considers Poland an important voice in TTIP negotiations.

Supporting Manufacturers on Manufacturing Day and Every Day

Manufacturing is a crucial contributor to the economy of North Carolina and the entire United States.

Guest blog post by Greg Sizemore is the Director of the International Trade Administration’s U.S. Commercial Service team in North Carolina.

Cross-posted from Trade.gov.

Manufacturing is more than just a cornerstone of the U.S. economy; it’s a cornerstone of modern life.

The screen you’re reading this on is a manufactured commodity. The radio you’re listening to, the car you drove to work, the smartphone your kids keep staring at – your refrigerator, your TV, your medicine – all manufactured goods.

Many headlines about U.S. manufacturing are negative, focusing on increased global competition in the sector, but the fact is that the U.S. manufacturing industry is growing, it’s supporting jobs, and it is supporting higher quality of life here in the U.S. and around the world.

Manufacturing is also a major source of U.S. exports, and the International Trade Administration estimates that one in four U.S. manufacturing jobs is supported by exports. That’s huge for our economy and I’m glad that we’ll celebrate the industry on Manufacturing Day on October 3.

Here in North Carolina, our manufacturers are creating and exporting billions of dollars’ worth of transportation equipment, chemicals, electronics products plastics, and more. I’m glad that my office in Charlotte and our other Export Assistance Centers in the state get to work with local manufacturers to find opportunities to sell their quality products in foreign markets.

If you’re a manufacturer looking to do business overseas, here are some of the services an Export Assistance Center can provide for you:

  • Market Research: Find out you product’s potential in a given market. Learn about specific regulations that could affect your business model. This kind of information is crucial for your export strategy.
  • Gold Key Matchmaking: Who are the best distributors in a market? What potential joint venture partners exist? What are the best government contacts for you to have? We can find those contacts, make introductions, and make sure you spend your time doing what’s most important: managing your company.
  • Trade Missions: Imagine you could go on a trip to a target market, surrounded by market and industry experts, and meet the foreign government and industry leaders most relevant to your business. That is a trade mission. We connect you to the most relevant opportunities and contacts to make sure you have every advantage to being successful in a market.
  • Trade Leads: We have commercial diplomats on the ground in more than 70 global markets and they have their fingers on the pulse of the business environment. Let us tell you the most current and relevant opportunities for your business around the globe.

You should also consider attending an event in our DISCOVER GLOBAL MARKETS Business Forum Series. We have export-promotion events coming up in New York, Georgia, Minnesota, and – of course – North Carolina, to support your business in competing abroad. There’s no better event to give your company a leg up in the global marketplace.

There are many other ways the Commercial Service can support your manufacturing business, so contact your nearest Export Assistance Center for assistance.

As Manufacturing Day approaches, I want to thank the 50-plus North Carolina-based manufacturers who are opening their doors to the public on October 3. I hope many of you in the Tar Heel State, and around the country, will participate in Manufacturing Day this year!

President’s Export Council to Participate in Administration’s First-Ever Fact-Finding Mission

President’s Export Council to Participate in Administration’s First-Ever Fact-Finding Mission

Guest blog post by Stefan M. Selig, Under Secretary of Commerce for International Trade

Yesterday, Secretary Pritzker and I announced that we will lead a high-level delegation on an economic fact-finding trip to Poland and Turkey later this month. I am excited to participate in the first PEC fact-finding mission for the Obama administration. 

That delegation — members of the President’s Export Council (PEC) — is the principal advisory committee on international trade to the president. It includes both public officials and private sector leaders. 

The private sector leadership that will participate during the trip represent many of the most successful and important companies doing business globally today. That includes the PEC vice chair, Ursula Burns, Chairman and CEO of Xerox Corporation. 

CEOs and senior executives from Lockheed Martin, Marriott International, Archer Daniels Midland, Boeing, Dow Chemical, eBay, IBM, and Pfizer, among others, will also participate in the fact-finding mission. 

With Poland as the sixth largest economy in the EU, and Turkey tripling its GDP per capita since 2002, the trade and investment opportunities are plenty and promising, particularly as they relate to economic growth for American businesses. 

After exploring potential opportunities in these countries, the PEC will report its findings to President Obama later this year. This trip is also an occasion for both the administration and American businesses to expand its presence in the field of commercial diplomacy. Working together as partners, we are deepening U.S. economic ties and continue to strengthen our presence on the global stage. 

In fact, one of the reasons I am excited to lead ITA at this moment in time, is because I believe we have a significant role in shaping international economic priorities.  

We can drive commercial diplomacy to new heights. 

From our Doing Business in Africa campaign, which helps facilitate business deals that result in trade-based development for the continent and jobs for the United States, to our Look South Initiative, which is designed to increase trade and investment with our neighbors to the south, or trade missions that promote clean, renewable energy throughout the world, the linkages between our trade and our diplomatic priorities is clearer than ever. 

For more information about the PEC, its members, or history, visit http://trade.gov/pec. Stay tuned for our report to the president. 

Deputy Secretary Andrews Highlights Efforts to Boost Rural Exports in Upstate New York

Deputy Secretary of Commerce Bruce Andrews says that his native Syracuse is 'poised to succeed' at the White House Rural Council "Made in Rural America" Forum

Today, U.S. Deputy Secretary of Commerce Bruce Andrews highlighted efforts to boost rural exports in upstate New York at a “Made in Rural America” forum at SUNY Cortland. Deputy Secretary Andrews was joined by U.S. Senator Kirsten Gillibrand (D-NY) at the event, where both delivered remarks on how to position rural America for success in the 21st century.

Co-hosted by the White House, U.S. Commerce Department, U.S. Department of Agriculture, and Appalachian Regional Commission, the forum convened local business leaders, industry representatives, economic development organizations and local, state and federal leaders to discuss ways to help rural businesses grow. The forum supports the Administration’s “Made in Rural America” Export and Investment Initiative that President Obama announced earlier this year to help rural businesses and leaders take advantage of new investment opportunities and access new markets abroad.

In his remarks, Deputy Secretary Andrews discussed Commerce Department work to ensure small and medium-size businesses have the tools needed to begin or expand exports and create good jobs. Specifically, he outlined goals to expand the national and global footprint of our local and rural businesses; create good-paying jobs for our workers; and cultivate prosperity in communities across Central New York.

Daring to Be Great in Supporting U.S. Exporters

Many of ITA’s senior commercial diplomats from around the globe are meeting in Washington, D.C. to discuss ways to better support business investors and U.S. exporters.

Cross blog post by by Judy Reinke, Deputy Director General of the U.S. and Foreign Commercial Service

Many of ITA’s senior commercial diplomats from around the globe are meeting in Washington, D.C. to discuss ways to better support business investors and U.S. exporters.

In order to support U.S. businesses going global, the International Trade Administration itself needs to be global.

That’s why we maintain staff throughout the United States and in more than 70 markets around the world, connecting companies of all sizes to opportunities in the international marketplace.

Technology has helped us execute our mission across borders, between time zones, and through language barriers. But just like we tell our clients seeking overseas partners, sometimes there’s no substitute for an old-fashioned face-to-face meeting.

That’s why I am excited about our Global Markets Global Meeting this week, bringing together ITA’s senior Commercial Service staff from the United States and around the world to share best practices, learn about new opportunities, and connect with the people who are making commerce happen – people we sometimes only know by email.

It’s been more than 10 years since our last meeting of this magnitude, and this week’s event will enable us to better execute our mission and understand new methods to better support our clients.