Commerce.gov is getting a facelift soon. See the new design.
Syndicate content

Blog Category: Trade mission

Secretary Pritzker Meets with Korean CEOs to Discuss Importance of Entrepreneurship

As part of her efforts to strengthen commercial ties between the United States and the Asia-Pacific region, Secretary Pritzker met with Korean entrepreneurs in Seoul to discuss the importance of supporting policies in the U.S. and Korea that encourage innovation. 

Both countries view entrepreneurship as a powerful tool to combat unemployment and capitalize on positive economic trends, and Korean President Park Geun-hye​ has made promoting the creative economy a top priority for the country.  The United States can support Korea’s vision of generating new employment opportunities through an innovation-driven economy with the Presidential Ambassadors for Global Entrepreneurs (PAGE) Program. PAGE was launched in April when Secretary Pritzker chaired the first meeting, bringing together a group of America’s most inspiring innovators to serve as ambassadors for global entrepreneurship.

One way PAGE could support Korea's entrepreneurial class is through mentorship sessions between PAGE members and Korean businesses. With diverse backgrounds, the ambassadors will energize their own personal and professional networks to challenge and inspire budding entrepreneurs and raise awareness of the many resources available to them.

Secretary Pritzker also learned more about the existing challenges and future opportunities for Korean businesses. By familiarizing herself with South Korea’s investment climate and ecosystem, she can engage more U.S. firms in partnerships and mentorship with Korean businesses. She also gave insightful suggestions regarding entrepreneurship from her own experience.

The business leaders present at the meeting included CEOs and representatives from ChattingCat, Reverth, Chinchin, Estmob, Soundl.ly, Google Korea, Modu Company, Bravepops, SparkLabs, Softbank Ventures Korea, Flitto, and Korbit.

Secretary Pritzker is determined to strengthen the bilateral relationship, and she and President Park agree that both countries will thrive economically by fostering more entrepreneurship. The United States has been at the forefront of innovation in businesses, and with PAGE’s guidance and international partnerships, entrepreneurs will become more encouraged to start their own businesses and leave a legacy of their own.

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.

Humacyte Excited to Participate in Department of Commerce Trade Mission with Secretary Pritzker to Japan and South Korea

Dr. Ted Lithgow, Chief Operating Officer, Humacyte, Inc.

Guest blog post by Dr. Ted Lithgow, Chief Operating Officer, Humacyte, Inc.

ED Note: Humacyte, Inc., a privately held company, is a medical research, discovery and development company that bioengineers novel human tissue replacements for key applications in regenerative medicine and vascular surgery.  The company uses a proprietary technology platform to isolate and grow stable, “off-the shelf” human tissue replacement conformations, with properties similar to native tissues. Humacyte’s goal is to improve treatment outcomes for many patients, including those with vascular disease and those requiring hemodialysis.

 

Humacyte is both honored and excited to participate in the upcoming Department of Commerce Trade Mission with Secretary Pritzker, her staff, and other business delegates to Japan and South Korea. We are grateful to the Department of Commerce and to Secretary Pritzker for selecting Humacyte for such a unique opportunity for meaningful dialogue with influential Japanese and South Korean business executives, senior policy makers, academics, fellow innovators and leading health and technology peers within their markets.  Our intent is to understand regional requirements and medical needs, and to establish new relationships within these regions and with our mission partners. 

The United States’ fourth and sixth-largest US trading partners respectively, Japan and South Korea present ample opportunities for U.S. businesses like ours. In both countries, the government and private sector are making significant investments in both health care and energy.

Our itinerary confirms that traveling with Secretary Pritzker will provide unprecedented access to – and important dialogue with -- high-level decision makers in each of these countries.  The trip is not only a unique mechanism to establish valuable contacts, but an opportunity to introduce our technology and intellectual capital directly to Japanese and Korean health care policy makers, regulators, healthcare leaders, and potential investors.

Personally, I must say the Department of Commerce and Secretary Pritzker’s staff have done an outstanding job of organizing and facilitating advance, meaningful connections among the delegation and business leaders in Japan and Korea. My expectation is that this mission offers Humacyte – and all of the delegation participants – a true opportunity to establish or grow our operations and business relationships in these emerging growth regions of the world.

Secretary Pritzker Highlights General Electric Investment in the Nigerian Community

Secretary Pritzker joins Jay Ireland, GE Africa President and CEO, after a roundtable discussion with representatives from General Electric (GE) Healthcare and the Government of Nigeria

While in Nigeria, U.S. Secretary of Commerce Penny Pritzker participated in a roundtable discussion with representatives from General Electric (GE) Healthcare and the Government of Nigeria where she heard about what opportunities existed for U.S. companies to provide solutions to Nigeria’s health care issues, specifically in the areas of infant and maternal care. Before beginning the roundtable discussion, Secretary Pritzker was escorted by GE executives through a “Continuum of Care” walk through display which highlighted the many solutions GE is using to improve maternal and newborn health in the region.

After the walk-through, Secretary Pritzker sat down for a roundtable discussion where she heard more about the formation and the recently signed Healthymagination Mother & Child initiative. This first-of-its-kind, 5-year initiative, signed by GE, Nigeria’s Ministry of Health and USAID, will focus on increasing capacity in the primary health care system and providing affordable financing options to support the reduction of preventable child-maternal mortality in Nigeria. Specifically, the imitative is focused on bringing more mobile and alternative powered health technology to the region along with robust training and education programs for nurses and midwives to help reduce child mortality and improve maternal health. Both of which will help Nigeria meet its Millennium Development goals.

During the trade mission, Secretary Pritzker highlighted that U.S. businesses want to be in Africa. She discussed how American companies not only invest time and resources in countries like Nigeria, but they also make investments in the communities in which they operate as well.

GE is an example of one such company that has not only been investing in infrastructure and power projects in Nigeria, but has also been actively involved in ways to improve healthcare outcomes and efficiency, including maternal and infant care.in Nigeria. both through its corporate social responsibilities platform as well as furthering its commercial interests. .

Secretary Pritzker Discusses Trade and Investment with Ghanaian President Mahama and Other Officials

President Mahama greets Secretary Pritzker on her first official visit to Ghana

Building on a strong bilateral relationship with Ghana, the United States is committed to partnering with the country as a beacon of stability and democracy in West Africa.

As part of that partnership, the United States is working to increase trade and investment, cornerstones of the Strategy toward Sub-Saharan Africa that President Obama announced in June 2012. On her trade mission to West Africa this week, U.S. Secretary of Commerce Penny Pritzker is talking with Ghanaian leaders about the many opportunities available for U.S. businesses to partner with Ghana to help meet their energy development objectives.

This morning, Secretary Pritzker met with Minister of Trade and Industry Haruna Iddrisu. She discussed policies that would facilitate U.S. companies’ participation in developing Ghana’s energy sector and helping the country meet its goal of generating 5,000 megawatts of power by 2016.  Secretary Pritzker pointed out that the United States’ Power Africa initiative to double access to electricity in Sub-Saharan Africa aligns with Ghana’s broad goals to increase power generation capacity in the near term.

Secretary Pritzker also met with Minister of Finance Seth Terkper and discussed some of the challenges facing the business community in the current fiscal climate. Noting that the strong trade relationship between Ghana and the United States continues to grow, Secretary Pritzker highlighted some of the Commerce Department’s initiatives focused on expanding U.S.-Ghana trade. This week’s trade mission is an opportunity to build upon our two country’s strong trade relationship by facilitating introductions of U.S. companies eager to learn about the energy needs of Ghana.

Finally, in the afternoon, Secretary Pritzker met with Ghanaian President John Dramani Mahama and discussed the strategic importance of strong U.S.-Ghanaian economic and commerce relations. Secretary Pritzker highlighted that U.S. companies have a lot to offer in terms of management and technical expertise, and capital that might prove to be very useful for Ghana. 

Secretary Pritzker and President Mahama briefly discussed the upcoming World Cup and the United States’ opening round match-up against Ghana. 

U.S. Secretary of Commerce Penny Pritzker Leads Energy Business Development Mission to West Africa

With more than 600 million people in sub-Saharan Africa lacking access to electricity, the power development challenge is enormous. More than two-thirds of the population is without electricity, including more than 85 percent of those living in rural areas. According to the International Energy Agency, sub-Saharan Africa needs more than $300 billion in investments to achieve universal electricity access by 2030 – far beyond the capacity of any traditional development program.

Tomorrow, U.S. Secretary of Commerce Penny Pritzker will leave for West Africa to lead 20 American companies on an Energy Business Development Mission with stops in Ghana and Nigeria. This mission will promote U.S. exports to Africa by helping American firms launch or increase their business in the energy sector in West Africa.  It will also help the African region develop and manage energy resources and systems, build out power generation and transmission, and distribution.  

Africa is home to seven of the ten fastest growing economies in the world, and helping U.S. business expand their presence in these African markets is a top priority for the Department of Commerce and the Obama Administration. There is tremendous potential for U.S. companies to sell their goods and services in countries like Ghana and Nigeria, which have energy needs that our firms have the goods, services, and expertise to address. Expanding trade and investment is a critical tool for economic growth and job creation in the U.S., and trade missions like this one are one way to help grow U.S. exports.

U.S. Secretary of Commerce Penny Pritzker Tours Solar Park in Dubai

Secretary Pritzker speaks to the Dubai Chamber of Commerce

On Monday in Dubai, U.S. Secretary of Commerce Penny Pritzker toured the Mohammed bin Rashid Solar Park by helicopter, getting a firsthand look at how cooperation between the U.S. and Dubai can lead to tremendous opportunities for businesses in both countries.

The solar park was built by First Solar, a company based in Tempe, Arizona that is currently accompanying Secretary Pritzker as part of her trade mission to the Middle East. Completed in October of 2013, the solar park is a 13 megawatt power plant and the largest solar facility of its kind in the Middle East.This solar park proves U.S. businesses can serve as strong business partners to the Gulf region as UAE invests in its infrastructure and transportation systems.

After the tour, Secretary Pritzker and the business delegation met with Dubai Electricity and Water Authority  (DEWA) project specialists and DEWA CEO Al Tayer to further discuss DEWA’s investments in water, electricity and renewable energy projects, all of which offer additional opportunities for American companies to serve as partners.

In addition to her tour of the solar park, Secretary Pritzker held several meetings on Monday to support U.S. companies as they explore business opportunities in Dubai’s infrastructure expansion. She met with Dubai Chamber of Commerce and Industry (DCCI) officials and World Expo 2020 committee members to congratulate Dubai on winning the World Expo 2020 bid and to offer the Commerce Department’s support in preparation for the Expo. Held every five years, the World Expo attracts millions of visitors to the six-month long exhibition of trade, innovation and products from around the world. Dubai Expo 2020 will focus on sustainability, mobility, and opportunity, and will be a platform for connectivity to help pioneer new partnerships for growth and sustainability for the future.    

U.S. Secretary of Commerce Penny Pritzker Begins Trade Mission to Middle East

U.S. Secretary of Commerce Penny Pritzker leaves today for the Middle East for her second trade mission. She will lead 21 U.S. companies on the trade mission, which is focused on export opportunities for U.S. businesses in the infrastructure sector.  This trade mission will mark the first time in 15 years a U.S. Commerce Secretary has taken a trade mission to the Persian Gulf.  The delegation will make three stops over the next week including the United Arab Emirates, the Kingdom of Saudi Arabia, and Qatar.

In addition to export opportunities for U.S. businesses in the infrastructure sector, this trade mission will focus on areas such as project management and engineering (including construction, architecture and design), renewable energy (solar, wind, and waste-to-energy), smart grid and energy efficiency, and environmental technologies (including water/wastewater, air pollution control, and waste management). Each of these areas is critically important to growing and expanding U.S. business opportunities in the region.

Last week, Secretary Pritzker delivered remarks to the U.S.-U.A.E. Business Council, the U.S.-Qatar Business Council, and the U.S.-Saudi Arabian Business Council where she discussed the decades-long security and commercial relationship between the United States and the Middle East and the growing opportunities for expanding business in the region. She stressed the importance of this trade mission as a demonstration of the United States’ commitment to a sustained economic partnership in the Gulf region.

Secretary Pritzker recently returned from her first trade mission to Mexico which provided 17 U.S. companies with opportunities to establish relationships and promote their technologies and services in Mexico’s advanced manufacturing, information and communications technology, health IT and medical device sectors. The mission also allowed Secretary Pritzker to focus on a key pillar of the Department's "Open for Business" agenda, helping U.S. businesses export goods and services and expanding investment opportunities in the U.S.

Greeley and Hansen Sees Trade Mission as Opportunity to Advance Aggressive International Growth Objectives

John C. Robak, President & Chief Operating Officer of Greeley and Hansen

Guest post by John C. Robak President & Chief Operating Officer, Greeley and Hansen

ED Note: Greeley and Hansen is a global leader in developing innovative engineering, architecture, and management solutions for a wide array of complex water, wastewater, and water-related infrastructure challenges.  The firm has built upon 100 years of proven civil and environmental engineering experience in all phases of project development and implementation to become a premier provider of comprehensive services in the water and wastewater sectors.

Greeley and Hansen is excited to participate in the upcoming Department of Commerce Trade Mission with Secretary Pritzker and other business delegates to the UAE, Saudi Arabia and Qatar. As the individual who directs the international business operations for Greeley and Hansen, I believe the projected growth in these countries is phenomenal, and can provide significant business opportunities for Greeley and Hansen’s water and wastewater engineering, architectural, and management consulting services. We have set forth an aggressive plan for international growth, and this important trade mission will allow us to further assess the long-range needs of these countries for water and wastewater infrastructure and to better identify potential long-term project opportunities for our firm.

Traveling with Secretary Pritzker will provide unprecedented access to high-level decision makers in each of these countries.  Having had the opportunity to be a delegate on previous infrastructure trade missions with the U.S. Commerce Department, I know first-hand that Greeley and Hansen will gain valuable information and insight into the market for water and wastewater services, but more importantly, we will also be able to establish valuable contacts that can help us launch the expansion of our operations in these potential high-growth markets for our firm. Participating in these past trade missions has led to real business opportunities for us in other emerging markets across the globe that are also interested in gaining access to U.S. technology and intellectual capital to help build sustainable infrastructure that will support continued growth and expansion.

U.S. Secretary of Commerce Penny Pritzker Concludes Her First Trade Mission in Mexico

Secretary Pritzker is joined by U.S. Ambassador Wayne and  Mexico's Secretary of Economy, Ildefonso Guajardo Villarreal during her trade mission to Mexico City and Monterrey, Mexico.

On Friday, U.S. Commerce Secretary Penny Pritzker concluded her five-day trade mission in Monterrey, the largest business center in Mexico after Mexico City.

Among her many trade mission events, Secretary Pritzker met with Margarita Arellanes Cervantes, Mayor of Monterrey, and Jose Luis Pier Castello, President of Lowe's Mexico - one of the leading hardware chains in the world - to highlight the importance of promoting corporate social responsibility and to recognize Lowe's and other American companies doing business in Mexico for their focus on these efforts. At a Lowe's store in Monterrey, Secretary Pritzker expressed her appreciation for employee volunteerism and acknowledged the importance of companies' involvement in the communities in which they operate.

After Lowe's opened its first two stores in Monterrey in 2010, the company, began looking for ways to get involved in the Monterrey community. The company has since supported local schools with donations, volunteer time, and construction expertise. Secretary Pritzker said that Lowe's commitment to the Monterrey community reflects the values of many American companies that invest in Mexico, and that U.S. companies are committed to staying active in the region.

In addition to meeting with Mexican government officials in Monterrey, Secretary Pritzker met with employees at the U.S. Consulate in Monterrey as well as the Department of Commerce’s Monterrey team, thanking them for their public service and for their assistance in promoting Mexican investment in the United States.