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Blog Category: International Trade Administration

U.S. Secretary of Commerce Penny Pritzker Tours Research and Technology Park In Monterrey, Mexico

Secretary Pritzker is joined by Secretary of Economic Development Rolando Zubiran and Institute for Innovation and Technology CEO Jaime Parada at  Monterrey’s Research and Technology Park

Yesterday, U.S. Department of Commerce Secretary Penny Pritzker toured Monterrey’s Research and Technology Park (Parque de Investigación e Innovación Tecnológica; PIIT in Spanish), a project that seeks to build competitiveness in the state of Nuevo Leon and northern Mexico by leading the transformation into an innovation and knowledge-based economy. 

PIIT is based on a model that aligns the government, universities, and the private sector to achieve economic growth through innovation. To that end, the PIIT serves both as a R&D Center and incubator, focusing on 10 industry clusters considered strategic by the state of Nuevo Leon – including IT and software, medical services, biotechnology, automotive and auto parts and advanced manufacturing among others.

Accompanied by Secretary of Economic Development Rolando Zubiran and Institute for Innovation and Technology CEO Jaime Parada, Secretary Pritzker praised PIIT and its staff for encouraging public and private partnerships and spurring innovation in Mexico.

Innovation is a major pillar of the Commerce Department’s “Open for Business Agenda,” and Secretary Pritzker saw how Monterrey utilizes R&D dollars and cutting-edge sites such as PIIT to  create dynamic clusters that accelerate economic growth and international competitiveness.

In fact, PIIT also includes university and public research centers, private research centers and incubators. Specific entities at PIIT include the University of Texas’ Global Center for Innovation and Entrepreneurship, as well as PepsiCo, General Electric and Motorola – each maintaining a facility in collaboration with a Mexican partner.

Another Year, Another Export Record

Editor's note:  This has been cross-posted from Tradeology, the Official Blog of the Internatational Trade Administration

Guest Blog Post by Ken Hyatt, Acting Under Secretary of Commerce for International Trade and Mark Doms, Under Secretary of Commerce for Economic Affairs

Four years ago, President Obama made export promotion a national priority, launching the National Export Initiative to renew and revitalize American exports.

That initiative is working.  Today, the Department of Commerce announced that for the fourth year in a row, the United States has set a record for annual exports. Total U.S. exports for 2013 reached $2.3 trillion.

There were record highs in both goods and services exports. Goods exports totaled 1.58 trillion, with records in a number of important sectors, including industrial supplies, consumer goods, and capital goods.

Service exports hit an all-time high of $682 billion, with records in several major service sectors. Travel and tourism was one record sector, as international visitors contributed $139 billion to the American economy.

Mexico was a particularly bright spot for U.S. exporters, as we saw a 4.7 percent increase to $226 billion in exports to our southern neighbor. Commerce Secretary Pritzker is currently leading a business development mission in Mexico, helping even more American companies find new opportunities and qualified business partners in one of our most important export markets.

U.S. Secretary of Commerce Penny Pritzker Highlights Entrepreneurship, Innovation, and Growth in U.S.-Mexico Relationship

Secretary Penny Pritzker Highlights Entrepreneurship, Innovation, and Growth in U.S.-Mexico Relationship

As part of her first trade mission, U.S. Secretary of Commerce Penny Pritzker spoke at a breakfast event focused on entrepreneurship, innovation, and overall growth in the U.S.-Mexico commercial and economic relationship.  The event was hosted by the American Chamber of Commerce and the Mexico-United States Entrepreneurship and Innovation Council (MUSEIC).  She was joined by Enrique Jacob Rocha, President of the Mexican National Entrepreneurship Institute (INADEM).

MUSEIC builds on the long history of U.S.-Mexico economic cooperation.  Founded shortly after President Obama’s visit to Mexico in May 2013, MUSEIC brings together stakeholders from both countries to strengthen regional economic competitiveness and support entrepreneurship. In 2013, MUSEIC sponsored a number of entrepreneurship-related activities, including an angel investment conference, a startup boot camp for young Mexican entrepreneurs, and an international forum on women’s entrepreneurship.

In her remarks, Secretary Pritkzer discussed the Commerce Department’s involvement in MUSEIC. For example, the Department is helping to map out the commercial and educational assets in the border regions of Tijuana-San Diego and Monterrey-Texas.  Also, in April, the Commerce Department will host government, business, and university leaders from Mexico and other countries to tour research, innovation, and entrepreneurship hubs in the Southern United States.  The event will spotlight public-private partnerships that accelerate new technologies, attract foreign direct investment, and more. Secretary Pritzker also announced that the next MUSEIC meeting will take place in April in San Antonio, Texas.

As the Chair of the President’s Committee on Global Entrepreneurship (PCGE), Secretary Pritzker is committed to working with leaders from around the world to help create an economic environment that encourages entrepreneurship in North America and around the world.  She said, "The United States and Mexico can set the stage for entrepreneurs on both sides of the border to come together, make breakthroughs, launch new firms, and strengthen our economic competitiveness."

U.S. Secretary of Commerce Penny Pritzker Begins First Official Trade Mission in Mexico

International Trade Between U.S. and Mexico. Trade in goods is eight times 1990 levels.

U.S. Secretary of Commerce Penny Pritzker officially began her five-day trade mission to Mexico today, starting the trip in Mexico City. She is joined by representatives from 17 U.S. companies looking to expand partnerships and develop effective strategies for accessing and doing business in the Mexican market.

The focus of this trade mission is to promote U.S. exports to Mexico by helping export-ready U.S. companies launch or increase their business in a number of key industry sectors including advanced manufacturing, information and communications technology, and health IT and medical devices. The companies joining the Secretary address the demand of these growing industries in Mexico.

“The 17 companies who have joined me on this important mission represent the best of American business. These outstanding and innovative companies understand that selling American products overseas is a crucial component to growing and creating jobs,” U.S. Secretary of Commerce Penny Pritzker said.  “I am delighted we can help these companies expand their presence in Mexico through this business development mission.”

The U.S.-Mexico bilateral relationship is among the United States’ closest and most extensive in the world and one of the reasons it was selected by Secretary Pritzker as the destination for her first trade mission. Mexico is the United States’ third-largest trading partner, and approximately $1.3 billion of merchandise trade and one million people cross the 2,000 mile shared border daily. In addition, deeply integrated supply chains in North America and an established free trade agreement make it easy for Mexico and the U.S. to do business with one another.

America is Open for Investment

SelectUSA logo

Guest post by Vinai Thummalapally, Executive Director, SelectUSA, International Trade Administration

In 2011, President Obama launched SelectUSA, the first-ever U.S. government-wide initiative to attract foreign direct investment (FDI) in the United States, with the hopes that the Department of Commerce would help facilitate both foreign and domestic business relationships and make FDI a diplomatic and foreign policy priority.

We took an enormous step forward three months ago, when the Commerce Department hosted the first-ever SelectUSA Investment Summit in Washington, DC. The summit was such a success that it sold out, and more than 1,300 business and government leaders from nearly 60 countries and economic development organizations from 48 states, the District of Columbia and three territories gathered to learn about the advantages of doing business in the United States and to explore investment opportunities. Perhaps most importantly, the Summit helped match potential investors with economic development organizations to help revitalize American communities and create new job opportunities.

Thankfully, we can continue to build upon the success of the Summit, now that the budget deal has been approved.  The agreement will allow up to $7 million to expand and enhance the program, and we at the Commerce Department are pleased to have this extra support to bring more companies to our shores.

In fact, the U.S. has welcomed investment to our shores for centuries. Our market has provided long-term stability and unmatched returns for investors. Today, the United States is the largest recipient of FDI in the world, and in 2012 alone, more than $160 billion dollars of FDI flowed here. Total foreign stock and assets are measured not in billions, but in the trillions of dollars. Clearly, FDI is an important contributor to our economy.

Looking South for Your Next Business Opportunities

Look South logo

Guest blog post by Michael Masserman, Executive Director for Export Policy, Promotion, and Strategy, International Trade Administration, U.S. Department of Commerce

This week Commerce Secretary Penny Pritzker announced the Look South Initiative, a movement to help American businesses leverage the Free Trade Agreements the United States shares with 11 countries in Latin America.

The Initiative is an important new part of the Commerce Department’s Open for Business Agenda, supporting American companies looking to increase their global presence.

More and more businesses are exporting, which is leading to record levels of exports for the country. That supports the U.S. economy, and it helps create jobs here at home.

However, most companies that currently export are only taking advantage of one market. Companies exporting to one market average roughly $375,000 in export sales. For a company exporting to two-to-four export markets, that average nearly triples to $1 million in sales. It's clear that exporting to additional markets improves a business's bottom line.

For businesses looking to expand their export markets, "Looking South" is a simple way to start. More than half of our free trade agreements are in Latin America, which generally equates to greater easer in entering those markets. Tariffs are low if they exist at all, which can mean a lower cost of doing business. 

Big Turnout in NYC Puts Spotlight on Exporting Anniversary

Image of mayor's proclamation

Cross-post, ITA's blog Tradeology by Curt Cultice, Senior Communications Specialist

The Alexander Hamilton U.S. Custom House in New York City was the setting on a wintery Monday, December 16, as more than 250 businesspeople and other participants turned out for the 100th anniversary celebration of the opening of the New York U.S. Export Assistance Center. Mayor Michael Bloomberg also proclaimed December 16 as “NY U.S. Export Assistance Center Day,” further recognizing the impressive milestone.

Acting Assistant Secretary for Global Markets and Director General of the U.S. and Foreign Commercial Service Judy Reinke keynoted the event, saying, “New York businesses recognized 100 years ago what we know holds true today: The world is full of consumers who highly value U.S.-made products.”

Last year, the New York City metro area exported $102.3 billion in merchandise exports to world markets, making it the 2nd largest metropolitan export source in the United States.  Read ITA's full blog

Acting Deputy Secretary Gallagher Addresses First-Ever American Energy and Manufacturing Competitiveness Summit

Acting Deputy Secretary Patrick Gallagher yesterday spoke at the first-ever American Energy and Manufacturing Competitiveness Partnership Summit in Washington, DC. Co-hosted by the Department of Energy's Energy Efficiency & Renewable Energy Office and the Council on Competitiveness, the first annual gathering brought together leaders from government, academia, industry and more to address national priorities in energy and manufacturing.

Dr. Gallagher gave brief remarks on the importance of energy and manufacturing to the Administration, the Commerce Department, and to our country as a whole. For many reasons, including the generation of more renewable energy than ever before, the U.S. has become an increasingly attractive place for foreign direct investment.

Several Commerce agencies are working to help companies continue to deepen their investments in the United States in order to maintain the U.S. position as the world's leading producer of environmental technologies in the 21st century.  Specifically, Gallagher cited National Institute of Standards and Technology scientists who are reengineering America's electric grid and the U.S. Patent and Trademark Office's efforts to fast-track patent applications related to renewable energy and greenhouse gas emission reduction.

The Commerce Department is at the intersection of issues like energy, sustainability, the environment, innovation and competitiveness, whose links are becoming stronger and more complex. Manufacturing in particular is a key indicator of our country’s innovative capacity, which is why strengthening manufacturing is a major focus of the Commerce Department's recently released "Open for Business Agenda." As the federal agency responsible for leading the government’s manufacturing policy, Commerce plans to support manufacturing at every stage of the product life cycle. Specific initiatives include promoting pre-competitive collaboration among leading-edge manufacturers nationwide and investing in communities that develop comprehensive strategies that strengthen their competitive edge in attracting global manufacturers.

Travel and Tourism Leaders Provide Four Recommendations to the Secretary to Further President’s National Travel and Tourism Strategy

Guest blog post by Todd Davidson, Chair and Sam Gilliland, Vice Chair, of the United States Travel and Tourism Advisory Board

The United States Travel and Tourism Advisory Board (Board) serves as the advisory body to the Secretary of Commerce on matters relating to the travel and tourism industry in the United States. The Board held its final meeting this week and provided the following recommendations to Secretary Pritzker for priority issues to be examined over the next three years.

This week, the US Travel and Tourism Advisory Board had its final meeting with Secretary Pritzker and submitted our top priority recommendations to enhance travel and tourism to and within the United States. The President’s National Travel and Tourism Strategy last year identified the exciting and overarching goal of welcoming 100 million international visitors by the end of 2021. Here are our top priorities aimed at achieving this goal:

Visa and Entry Process. Our country will not get a second chance to make a positive first impression on international travelers, and long entry wait times at ports of entry are seriously undermining that impression. We need more Customs and Border Patrol officers, but we also need to use technology to move people more efficiently. We must commit to processing all visitors to our country within 30 minutes of their arrival. The travel and tourism industry supports passage of the Jobs Originated through Launching Travel (JOLT) Act. This legislation is chock full of goodness: it would reauthorize Brand USA, modernize and expand the Visa Waiver Program, facilitate the use of secure videoconferencing for visas, reduce visa wait times, and expand the highly successful Global Entry program.

Infrastructure Investment. With more international and domestic travelers visiting the United States, we must improve America’s transportation infrastructure, including our airports, rail system and highways. Substantial investment and new requirements for sustainable practices are urgently required. Commerce should identify and address the nexus between inadequate transportation infrastructure and hindered economic growth and create a public-private forum to formulate solutions. We need speedy investment and implementation of the Next Generation Air Traffic Control System (NextGen) and a public awareness campaign about how NextGen improves the travel experience by enhancing safety, reducing delays, saving fuel and reducing emissions. 

Secretary Pritzker to Lead Business Development Mission to Middle East

Secretary of Commerce Penny Pritzker will lead a senior-executive Business Development Mission to the Gulf Cooperation Countries (GCC) of the United Arab Emirates, Saudi Arabia and Qatar March 8-14, 2014.

The trade mission is critical to building on export growth and furthering the Obama Administration’s efforts to help U.S. businesses compete and succeed in the global economy. It is also an important component of the Department of Commerce’s “Open for Business Agenda,” which prioritizes trade and investment.

This mission will highlight export opportunities for U.S. businesses in three leading industry sectors with an emphasis on project management and engineering (including construction, architecture and design), renewable energy (solar, wind, waste-to-energy), smart grid and energy efficiency, and environmental technologies (including water/wastewater; air pollution control; and waste management).