Export Grants

Posts Tagged ‘export grants’

The Buy America campaign has its sights set squarely on Brazil, India and China and other fast emerging markets as part of Obamas goal of doubling exports over the next five years. Francisco Sanchez, Commerce Under Secretary for International Trade told reporters that is where US efforts need to be focused noting that 95% of the worlds consumer base is outside of the United States, and it is that group is where the largest gains will be found.

The initiative to increase exports plans a two sided approach. Increased advocacy for exporters, and a stepping up of enforcement of U.S. trade agreements to ensure that commitments to open their markets are being met. The under-secretary is planning a tour of major economies starting March 29th, visiting Brazil, India, Saudi Arabia, Canada and Mexico. China is also on the list and there is growing pressure on the Obama administration to put pressure on the communist government on their monetary policy and other trade matters, however he made sure to not go to far:

we will clearly and assertively press Chinese on any concerns, but do that in a way that bolsters trade rather than damages it

Sanchez also stated that the Commerce Department hopes to work closely with the Small Business Administration to grow US companies that export through grants and financing opportunities.

Sanchez said the Commerce Department would work closely with the Small Business Administration to increase the number small and medium-sized businesses that export. It will also call on logistics companies such as the US Postal Service, Fedex and UPS to try and identify companies that are already doing business overseas and help them find new markets for their products. There are also a number of large infrastructure projects planned in Algeria and Libya that US construction companies may be able to win a share of the contracts.

On March 11th, 2010 President Obama signed an executive order outlining the creation of a National Export Initiative. This iniative that will direct federal resources appropriately to improve conditisions where private sector businesses are able to export goods.

Grants and Financing

Funds will be focused on small buisnesses via grants and other financing sources. This initiative consist of a cabinet of 14 members – while leaving the option for more at a later date. This will cabinet consists of:

• The Secretary of State
• The Secretary of the Treasury
• The Secretary of Agriculture
• The Secretary of Commerce
• The Secretary of Labor
• The Director of the Office of Management and Budget
• The United States Trade Representative
• The Assistant to the President for Economic Policy
• The National Security Advisor
• The Chair of the Council of Economic Advisers
• The President of the Export-Import Bank of the United States
• The Administrator of the Small Business Administration
• The President of the Overseas Private Investment Corporation
• The Director of the United States Trade and Development Agency

This cabinet will report to the president periodically to report on the progress of any initiative and should colaborate with the Trade Promotion Coordinating Comettee (TPCC) in executing initiatives through the NEI.