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Blog Category: President's Export Council

President’s Export Council Travels to Poland and Turkey About Growing Economic Opportunities For All

President’s Export Council to Poland and Turkey About Growing Economic Opportunities For All

Guest blog post by Michele Cahn, Vice present of Global Government Affairs and Corporate Philanthropy for Xerox

For everyone who may speculate that the U.S. position of influence in the world has declined, our recent trip to Poland and Turkey proves to me that when business and government come together, we make a very powerful statement. This type of initiative is something that is unique to the United States… this is commercial diplomacy in action at its very best.

I was able to spend the first days of October with Xerox CEO Ursula Burns, who is the Vice Chair of the President’s Export Council (PEC) and who helped lead a fact-finding mission to Poland and Turkey. U.S. Secretary of Commerce Penny Pritzker led the high-level delegation of U.S. business leaders on an economic fact-finding mission to identify opportunities to increase trade and investment between the U.S. and Poland and the U.S. and Turkey, two high-potential, fast-growing markets that have been under penetrated by US companies, especially SMEs.

The PEC delegation included CEOs from such companies as Vermeer, Lockheed Martin, Marriott International, Archer Daniels Midland, 32 Advisors, and UPS—representing a combined market cap of more than $850 billion and senior representatives from another eight companies.

What impressed me so much was the reception from the entire range of people we met with was how significant this trip was and how and why  the PEC selected Poland and Turkey for this trip.  And while we take some of this for granted, private and public partnerships are very rare in these countries.  We were asked why would these US companies join together for this trip…don’t you compete with one another. We were able to make it very clear, that this wasn’t about competing; this was trying to grow economic opportunities for all of us.  The outcome of this mission will be to help stimulate business in Poland and Turkey and help increase exports from the U.S. and combined, that means economic and job growth in these countries and in the U.S., so we all benefit.

Business leaders in Poland and Turkey have a very strong interest in capitalizing on innovation and entrepreneurship.  Poland has a highly skilled and highly educated workforce, but the general impression there is that the digital revolution has passed them by.  The challenges in Turkey might be more significant in terms of modernizing laws, simplifying bureaucracy and building transparency.

So while there are challenges, there are significant opportunities to accelerate business growth and to encourage governments and businesses in both countries to partner more with each other. 

President’s Export Council Espouses Commercial Diplomacy

Robert Wolf, Founder and Chief Executive Officer of 32 Advisors

Guest blog post by Robert Wolf, Founder and Chief Executive Officer of 32 Advisors.

As a member of the President’s Export Council (PEC), I had the good fortune of going to Poland and Turkey with a group led by Secretary of Commerce Penny Pritzker along with CEOs from Archer Daniels Midland, Lockheed Martin, Marriott, UPS, Vermeer and Xerox as well as representatives from other member firms.  The PEC, comprised of companies with an aggregate market capital of over $850 billion, chose Poland and Turkey for our inaugural trip with the Secretary as we view these countries, first and foremost, as high priority economically important growth markets in addition to being strategically significant.

During the trip I wore two hats: one as an ambassador for US businesses broadly promoting the President’s National Export Initiative and US foreign direct investment priorities and, second, as a businessman in representing a cross-border advisory on a fact finding mission to explore Poland and Turkey as good places to enhance our business relationships and our client’s growth initiatives.

I learned that both Poland and Turkey want many of the same things as the US: transparency, public/private partnerships, infrastructure investment, an all-in energy approach and a skilled labor force/education.

What I found while visiting with both public and private leaders was that there are some incredible market opportunities for US businesses. Given the impressive strides both countries have made in recent years, I am not particularly surprised.

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.

Secretary Pritzker Hosts Innovation Roundtable with Polish Industry Leaders and Startups

Secretary Pritzker Hosts Innovation Roundtable with Polish Industry Leaders and Startups
U.S. Secretary of Commerce Penny Pritzker and a delegation of U.S. CEOs yesterday met with Poland's Minister of Higher Education and Science and a group of Polish innovators to discuss the country's efforts to encourage innovation in their economy. Secretary Pritzker was in Warsaw with a group of U.S. CEOs who are members of the President's Export Council. 
 
The Polish government has made the promotion of innovation a top priority. Poland will be receiving a total of $106 billion in funds from the European Union by 2020. Poland plans to invest about 70 percent of those funds to promote innovation. The United States is well-positioned to serve as a partner in these efforts by sharing best practices and engaging our private sector leaders in Poland to further promote innovation.
 
The discussion centered on obstacles that individuals and businesses are experiencing when it comes to innovation, and how the United States can serve as a partner in support of innovation in Poland. For example, while a strong commitment to R&D is one principal driver of innovation, Poland’s current spending on R&D is less than 1 percent of GDP.  
 
However, R&D is only one component of a strong innovation economy. The Department of Commerce is America's "innovation agency," and helps build an innovation ecosystem in the United States by supporting a strong patent system, making investments in regional business incubators and science parks, expanding access to broadband and developing technology standards. 

Secretary Penny Pritzker to Lead High-Level U.S. Business Delegation to Poland and Turkey

Secretary Pritzker met with young entrepreneurs, who are the future of a stronger Ukrainian economy, during her commercial diplomacy trip to Kyiv, Ukraine.

U.S. Secretary of Commerce Penny Pritzker will lead a high-level delegation of America’s top CEOs on an economic fact-finding mission next week to Poland and Turkey. Secretary Pritzker and the CEOs, all of whom are members of the President’s Export Council (PEC) will use the trip to identify immediate and long-term opportunities to increase trade and investment between the U.S. and Poland and the U.S. and Turkey, two high-potential, fast-growing markets. Through greater understanding of these markets, the Department of Commerce and the President’s Export Council can help U.S. companies gain better access to Poland and Turkey, so they can sell more of their goods and services abroad and support jobs here at home.

Following this trip, the PEC CEOs joining the mission will apply their commercial expertise to produce a report for President Obama, which will recommend actions the U.S. government can take to address challenges and increase trade and investment between the U.S. and Poland, and the U.S. and Turkey

Just prior to the PEC mission, Secretary Pritzker will visit Kyiv, Ukraine. Secretary Pritzker's visit to Ukraine was announced by President Obama during Ukrainian President Poroshenko’s visit to Washington, D.C. last week.  Secretary Pritzker, whose family comes from Ukraine, will use her time there to discuss with Ukrainian government and business leaders the reforms necessary to improve their business climate, attract private capital, expand opportunity, and strengthen the economy for greater investment and growth. She will also explore potential opportunities for additional commercial cooperation between the U.S. and Ukraine.

After her stop in the Ukraine, Secretary Pritzker will join the eight PEC members and Under Secretary of Commerce for International Trade Stefan M. Selig in Warsaw, where they will meet with Polish government officials and business leaders and gather insight on opportunities and challenges facing U.S. companies in each respective market. Following the stop in Warsaw, the group will continue on to Istanbul and Ankara, Turkey.

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. 

Secretary Pritzker Concludes “Commerce in the Valley” Tour

Secretary Pritzker Concludes “Commerce in the Valley” Tour

U.S. Commerce Secretary Penny Pritzker concluded her two-day “Commerce in the Valley” tour on Tuesday showcasing the value and vast resources of the Commerce Department to entrepreneurs and business leaders in Northern California.  As the voice of business in the Administration, Pritzker met with innovators, entrepreneurs and leaders within Silicon Valley to discuss the Department of Commerce’s “Open for Business Agenda,” and the three key areas that will keep America competitive and strong: trade and investment, innovation, and data.

Secretary Pritzker made a number of site visits during her tour of Silicon Valley including Facebook, Google, eBay and PayPal showing the Department's strong commitment to spurring U.S. economic growth, through innovation, and competitiveness. On day two of her visit, Secretary Pritzker participated in an Innovation Ecosystem breakfast hosted by Tech for America, where she heard from budding entrepreneurs on the next generation of innovative ideas and discussed the importance of intellectual property (IP) protection and patent reform.

Following the breakfast, Secretary Pritzker traveled to Google where she met with executives and discussed trade and investment and ways the Commerce Department can further help companies export their goods and services abroad. 

Secretary Pritzker concluded her day at eBay and PayPal where she met with three eBay sellers, Chris Ko, Owner, Nationwide Surplus and ER2 Electronic Recycling; Nate Victor, CEO, Sonic Electrolux; and Nick Martin, Founder, The Pro's Closet. She discussed with each of these business leaders what global opportunities and resources we have at the Department of Commerce that can help them increase exports to foreign markets and expand their business footprint.  Secretary Pritzker later joined eBay Inc. CEO John Donahoe in announcing a partnership to promote U.S. exports and trade.  This partnership will advance the Obama Administration’s National Export Initiative, an ambitious plan to sell more American goods and services into foreign markets. 

Mr. Donahoe was appointed by President Obama to the President’s Export Council (PEC) in December 2013.  This partnership comes on the heels of a U.S. Department of Commerce announcement that U.S. exports in 2013 set a new record for the fourth straight year. U.S. exports reached $2.3 trillion in 2013, up nearly $700 billion since 2009.

Secretary Bryson Encouraged by President’s Export Council Recommendations to Help Strengthen U.S. Economy

Secretary Bryson addresses the President's Export Council

Yesterday, Secretary John Bryson met with the President’s Export Council (PEC) with two goals in mind: to discuss further ways to strengthen the U.S. economy; and to update PEC members on the actions taken by the Department and the administration to increase exports.

As the principal national advisory committee on international trade, the PEC provides a forum for public-private interaction at all levels of government and business. It is responsible for advising the president on government policies and programs affecting U.S. trade performance, covering topics that range from export promotion to deliberations over specific trade challenges in various industries and sectors.

Since the PEC last met, the Obama administration has made great strides in creating jobs, increasing exports and growing the economy. For example, the U.S.-Korea and U.S.-Colombia free trade agreements were implemented earlier this spring, and will drive billions of dollars in additional annual exports and create tens of thousands of American jobs.

President Obama Announces New Steps to Promote Manufacturing, Increase U.S. Exports

Jim Albaugh, President and CEO of Boeing Commercial Airplanes, President Obama with Jim McNerney, CEO and chair of the PEC (Photo: Boeing)

Last Friday, President Obama visited the Boeing assembly facility in Everett, Washington to announce new steps to promote American manufacturing and increase U.S. exports. Manufacturing represents nearly 60 percent of total U.S. exports, and Boeing, whose CEO Jim McNerney is Chair of the President's Export Council (PEC), is one of the country’s leading exporters of manufactured goods with more than $34 billion in total exports in 2011. The PEC is chartered  to advise the president on real ways to boost innovation, competitiveness, and trade for American businesses. Mr. McNerney brings great skill and know-how to the PEC.

The Obama administration has provided important support to Boeing’s export success, and the president has made unprecedented efforts to open up markets for American goods and to level the playing field for all American companies.  Over the past year, the president has signed into law a series of trade agreements that will provide a major boost to our exports by making it easier for American companies to sell their products in South Korea, Colombia, and Panama. In addition, record-setting efforts at the Export-Import Bank–through direct loans, credit guarantees, and credit insurance–have helped U.S. exports remain on target to meet the president’s goal to double exports between 2010 and 2015.