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Blog Category: Trade

Secretary Bryson Addresses the Industry Trade Advisory Committees

Submitted on April 5, 2012 - 12:45pm
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Secretary Bryson Addresses the Industry Trade Advisory Committees

Earlier today, Secretary John Bryson addressed the advisers of the Industry Trade Advisory Committees (ITACs) at a quarterly plenary session at the Department of Commerce. The Secretary laid out his priorities in manufacturing, trade and investment.

The ITACs are comprised of U.S. business leaders who assist the Department of Commerce and the Office of the U.S. Trade Representative with trade policy. Secretary Bryson was joined by U.S. Trade Ambassador Ron Kirk and 16 of the ITAC committees to discuss the importance of new and upcoming trade initiatives.

This meeting takes place just weeks after the 2nd anniversary of President Obama’s National Export Initiative. The work of the ITACs is helping to build on the all-time record of $2.1 trillion in U.S. exports last year. Export-supported jobs also increased by 1.2 million from 2009 to 2011.

Secretary Bryson praised the advisers for their work on the U.S.-Korea Trade Agreement, which recently went into effect. This agreement dropped tariff rates to zero on about 80 percent of U.S. goods exported to Korea. Secretary Bryson also thanked the ITACs for their continued work on efforts such as the Trans-Pacific Partnership.

The Secretary also discussed the importance of advancing America’s bilateral relationships through strong and balanced growth in areas such as trade and investment, and cited his recent trade mission to India as an example of this.

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Pushing for Progress in the Middle East and North Africa

Submitted on October 24, 2011 - 3:00pm
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(Photo: © WEF)

Guest blog post by Francisco J. Sánchez, Under Secretary of Commerce for International Trade Secretary, Department of Commerce

Recent events have reaffirmed just how extraordinary this period is for the Middle East and North Africa (MENA).  The Arab Spring has generated a lot of hope for people across the region. However, it’s also presented a number of questions that need to be answered, many of which center around economic issues like unemployment and slow growth. 

As the World Economic Forum (WEF) put it, “Recent shifts in the Arab world, coupled with an economic contraction at the global level, have created renewed urgency for decision-makers across the region to address the unfolding economic situation.”

So, it’s fitting that, this past weekend, King Abdullah of Jordan hosted a WEF event to address job creation. World leaders gathered to discuss pressing issues including the advancement of youth and women, the impact of social media, and, of course, U.S.-Arab relations.

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Six Cities, Ten Days and Hundreds of Businesses

Submitted on August 30, 2011 - 11:45am
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Sanchez is on a tour of a manufacturing facility

Guest blog post by Francisco Sánchez, Under Secretary for International Trade, International Trade Administration

From Los Angeles to Las Vegas and Albuquerque to Walnut Creek, I spent last week traversing the Southwestern United States talking to small businesses, textile manufacturers, exporters and rural communities about the positive impact exporting has on our economic stability and potential to put people back to work.

During this trip, I met with leaders from more than 150 businesses to discuss President Obama’s National Export Initiative and how important it is for small- and medium-sized businesses to expand their markets through exporting. I also reinforced the importance of leveraging the public-private partnerships that will foster investment, support communities and assist rural businesses to succeed, expand and create jobs.

In New Mexico, I spoke to businesses about the importance of the APEC economies, which have generated nearly 200 million new jobs and 70 percent of overall global economic growth during the past decade. APEC members increasingly represent the global economy of the 21st century.

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U.S., Mongolia Commit to Expand Bilateral Commercial Relations

Submitted on June 16, 2011 - 3:00pm
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President Tsakhiagiin Elbegdorj, Foreign Minister Zandanshatar, Secretary Locke at signing ceremony

Locke applauds historic Boeing aircraft deal

U.S. Secretary of Commerce Gary Locke and Mongolia’s President Tsakhiagiin Elbegdorj today announced agreements to expand cooperation on trade and economic issues, and support Mongolia’s aviation sector with technical assistance and training programs at a Blair House ceremony.

“Our trade relationship with Mongolia has deepened during the past several years,” Locke said. “We are pleased that U.S. exports to Mongolia have been increasing, and we look forward to continuing to work with President Elbegdorj and his government to strengthen our commercial ties.”

The Boeing Company also finalized a purchase agreement with MIAT Mongolian Airlines for one 767-300ER and two 737-800 aircraft valued at $245 million from The Boeing Company. This is the first direct purchase of Boeing aircraft by MIAT, and marks the first time in more than two decades that MIAT will extend its route network by purchasing Boeing airplanes instead of leasing them.

Locke and representatives from the United States Trade and Development Agency (USTDA) and the U.S. Department of Transportation’s Federal Aviation Administration (FAA) each signed agreements with Mongolian government and private sector officials promoting cooperation between the two nations.

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Enhancing Trade in Latin America: Opening Opportunities

Submitted on June 13, 2011 - 4:00pm
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Sanchez on podium

Guest blog b y Francisco Sánchez, Under Secretary of Commerce for International Trade

Today I am honored to be speaking at the Association of American Chambers of Commerce at the Latin America Conference in Cartagena, Columbia. I shared with the hundreds of participants that the United States will continue its decades-long effort to increase economic integration throughout Latin America, including the passage and implementation of pending trade agreements with Colombia and Panama.

Latin America is our fastest-growing export market. The United States exports three times as much to Latin America as we do to China. We enjoy significant bilateral trading relationships with most of the countries in the region, and exports to these countries will soon support more than two million U.S. jobs.

Currently, 84 percent of U.S. trade within Latin America is covered by free trade agreements. Passage and implementation of new trade agreements with Colombia and Panama is an Obama administration priority for 2011, and are expected to support tens of thousands of jobs in America.

President Obama has made his commitment to the free trade agreements with Panama and Colombia clear because he believes that the future of the United States is inextricably bound to the future of the people of the Americas.

Panama is one of the fastest-growing economies in Latin America, expanding 6.2 percent in 2010, with similar annual growth forecast through 2015. Exports of U.S. goods to Colombia are expected to increase by more than $1.1 billion once the agreement is fully implemented.

Initiatives such as Pathways to Prosperity and the Americas Competitiveness Forum – two important programs supported by the Department of Commerce’s International Trade Administration – are critical to improving economic integration that will benefit every nation in the Western Hemisphere.

Trade between countries in the Western Hemisphere is important to all of us, supporting millions of jobs and bettering the lives of our people.

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U.S. Aerospace Supplier and Investment Mission to Canada Generates $1.34 Billion in Commercial Deals

Submitted on May 4, 2011 - 1:10pm
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Image of NOAA plane

Guest blog post by Suresh Kumar, Assistant Secretary of Commerce for Trade Promotion and Director General of the U.S. and Foreign Commercial Service

When people think of Canada they often think of hockey, moose, and cold weather, not aircraft.  In fact, Canada's aerospace industry is the fifth largest in the world ($22.2 billion in revenues in 2009) and the United States is Canada's largest supplier of aircraft parts and components.  Bombardier Aerospace, a Canadian manufacturer of commercial aircraft and business jets, has grown to be one of the top four aircraft manufacturers in the world, behind Boeing, Airbus, and Brazil’s Embraer.  Canada’s geographic proximity, open market economy and stable business climate make it an attractive market for U.S. aerospace companies.

To help U.S. companies take advantage of these export opportunities, I’m in Canada leading 21 companies on a three-day U.S. Aerospace Supplier and Investment Mission.  On the mission, we announced commercial signings worth $1.34 billion in U.S. contracts with Canadian aerospace firms, a figure representing over $800 million in U.S. export content.  

These newly signed commercial deals are a crucial part of our effort to strengthen the economy and will make an important contribution to manufacturing and job growth across the United States.

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Secretary Locke Arrives in Mumbai for Final Stop of High-Tech Trade Mission

Submitted on February 10, 2011 - 11:30am
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Locke with Indian CEOs in Mumbai

Locke meets with Chairman Ambani of Reliance Industries and other Indian CEOs

Commerce Secretary Gary Locke returned to India’s business center today for the final stop of his high-technology trade mission to India – which he announced during President Obama’s trip last November. Locke is joined by a delegation of 24 U.S. businesses seeking to promote their technologies and services related to civil nuclear energy, civil aviation, defense and homeland security, and information and communications technology to India. Locke is the first Cabinet secretary to travel to India after President Obama’s visit.

At a speech he delivered to members of the Federation of Indian Chambers of Commerce and Industry (FICCI) and the American Chamber of Commerce (AMCHAM) in Mumbai, Locke highlighted the U.S.-India commercial relationship and encouraged development of new business opportunities between the members of the delegation and their Indian counterparts. He also talked about the great progress India has made in opening its markets to U.S. companies but he noted that much more work needs to be done.

“If India continues its walk down ‘the path of reform,’ if it continues to become more open to the investments and the innovations of foreign companies – like the 24 companies I have with me this week – it will stand a much better chance of meeting the needs of its people and of helping to lead the global economy in the 21st century,” said Secretary Locke. “We've made important progress this week, not just to lay the groundwork for more sales of U.S. goods in India, but to take another real step towards strengthening the bonds between the governments, the businesses and the people of India and the United States.”

While in Mumbai, Locke also met with Indian CEOs, including Chairman Mukesh Ambani of Reliance Industries, who are part of the U.S.-India CEO Forum as a follow up from their meeting during President Obama’s trip to India in November. Locke solicited the group’s goals for the 2011 forum and they discussed a wide range of critical issues, including clean energy, standards and education.

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Secretary Locke Touts U.S.-India Trade, Opens U.S. Pavillion

Submitted on February 9, 2011 - 10:30am
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Locke Meets with Chairman Tata, Minister of Defence A.K. Antony on the margins of Aero India

U.S. Commerce Secretary Gary Locke stressed the importance of innovation in the U.S.-India trade relationship today in Bangalore with remarks and a discussion with students and faculty at the Indian Institute of Science (IISc) before officially opening the U.S. Pavilion at Aero India 2011.  Bangalore is the second stop of his three-city high-technology business development trade mission with U.S companies to India.

During the discussion at IISc, Locke interacted with students, research scholars, and professors at one of India's premier educational institutions for science and research.  Locke discussed how India's efforts to build a more open commercial environment will help empower the next generation of Indian innovators to help solve some of the world's most pressing problems like climate change, poverty and disease.

"I'm optimistic and confident the world is equipped to deal with the challenges we face – and a big part of the reason is seeing young people like you," said Locke.  Because although these problems are daunting, they do have solutions.  Many of them can be solved with the science, math and engineering skills that are taught and learned at IISC every day."

The secretary added that unlocking the full potential of IISc students and researchers, and indeed the entire U.S.-India trade relationship, depended on India continuing to work towards "a regulatory infrastructure that encourages the freer flow of ideas, people, and technologies across its borders."

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Webcast of Secretary Locke Delivering Remarks at Policy Conference Discussing Commercial Relationship Between U.S. and China

Submitted on December 2, 2010 - 9:30am
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U.S. Secretary of Commerce Gary Locke will deliver the opening remarks at a day-long policy conference that discusses the commercial relationship between the United States and China.  The forum features senior Commerce Department officials and leading experts on China’s economy, political landscape, trade networks, science and innovation policy, and environmental technologies.  In anticipation of the next U.S.-China Joint Commission on Commerce and Trade (JCCT) later in December, this conference will focus on the U.S. government’s efforts to improve market access for U.S. exports in the Chinese economy and increase opportunities for mutually beneficial trade.  This forum is jointly hosted by the U.S. Department of Commerce, the Henry M. Jackson School of International Studies at the University of Washington, the Henry M. Jackson Foundation, and Georgetown University.

Secretary Locke is scheduled to start his remarks at 8:45 a.m. Webcast provided by Georgetown University.

The webcast has ended. Please check back later for archived video of Secretary Locke's speech.

(UPDATED after the jump)

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Secretary Locke Meets with Indonesian Ambassador to Strengthen Bilateral Ties

Submitted on November 23, 2010 - 4:30pm
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Secretary Gary Locke and the newly-appointed Ambassador of Indonesia, Dr. Dino Patti Djalal, shaking handsU.S.Commerce Secretary Gary Locke met with the newly-appointed Ambassador of Indonesia, Dr. Dino Patti Djalal, to discuss U.S.-Indonesia commercial relations.  The meeting follows up on the U.S.-Indonesia Comprehensive Partnership formalized during President Obama’s visit to Indonesia on November 9-10, as well as the clean energy trade mission led by Secretary Locke in May, 2010.

During the meeting, Locke reinforced the U.S. commitment to building better commercial relations with Indonesia.  Locke and Ambassador Djalal discussed ways to make Indonesia a more appealing destination for U.S. investments and underscored Indonesia’s importance in helping President Obama reach the National Export Initiative (NEI) goal of doubling U.S. exports by 2015, supporting 2 million American jobs.  Indonesia—the third-fastest growing economy among G-20 nations in 2009—was selected as one of six target foreign markets in support of the NEI, where the U.S. government will help American businesses export in six sectors: infrastructure, education, food and agriculture, health, defense, and creative industries.

By assuming the leadership position as the incoming chair of the Association of Southeast Asian Nations (ASEAN), Indonesia will be an important regional partner for the United States.  As the world’s third-most-populous democracy and the largest Muslim majority democracy, Indonesia also plays a pivotal role in ensuring security and stability in the Asia-Pacific region.   A meaningful and productive relationship with Indonesia is critical to advancing U.S. economic, diplomatic and security interests, and Secretary Locke and the Commerce Department will continue to play an active role in engaging Indonesia through future meetings and trade missions.

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