FOR IMMEDIATE RELEASE
Monday, June 21, 2010
CONTACT OFFICE OF PUBLIC AFFAIRS
U.S. Commerce Department's Carribean Trade Mission Yields Positive Results for U.S. Firms
Dominican Republic and Jamaica offer small- and medium-sized companies opportunity
Wrapping up the administration’s first trade mission to the Caribbean, Commerce Department senior adviser and Deputy Chief of Staff Rick Wade stressed that geographical proximity and shared historical and cultural ties make the Dominican Republic and Jamaica prime destinations for U.S. goods and services. Wade led a 10-company U.S. trade mission to the region to promote export opportunities June 13-19.
“In today’s global marketplace, it is critical for companies to establish alliances with partners in other markets in order to be competitive,” Wade said. “Because of its close proximity and a favorable trading relationship over time, the Caribbean is a natural area for U.S. firms to explore new export opportunities that will result in more jobs for American workers.”
The United States is the primary trading partner for both countries. In 2009, U.S. exports to the Dominican Republic and Jamaica totaled $5.27 billion and $1.45 billion, respectively.
The business delegation featured small- and medium-sized enterprises from the manufacturing, transportation, consumer goods, cosmetics, home care and financial services industry sectors. The U.S. companies participated in more than 180 meetings with potential business partners, distributors, agents and customers, some with immediate results and orders expected in the coming weeks.
Participating U.S. companies included: Atlanta Global Resources, Inc.; Atrium Shutters; Bon Trade International Corporation; CMD Trailer Sales & Leasing, Inc.; Fast Enterprises, LLC; Freeman Schwabe Machinery; Magna-Bon II, LLC; Morton Supplies, Inc.; Palladio Beauty Group; and PGT Industries. The mission included stops in Santo Domingo, Dominican Republic, and Kingston, Jamaica.
Trade missions are an important component for achieving President Obama’s National Export Initiative (NEI), which aims to double U.S. exports within five years, supporting economic and job growth. Since the start of the administration, the Department of Commerce has led 26 trade missions to 26 countries.
This mission was sponsored by Commerce’s International Trade Administration, the premier resource for American companies competing in the global marketplace. For more information, please visit www.trade.gov .