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President Obama Prescribes Increase in U.S. Exports to Support Economic Growth

February 13, 2013

Francisco Sánchez serves as the Under Secretary of Commerce for International Trade.

President Obama made it clear in his State of the Union address that American exports will play a part in America’s economic success. This requires creating free access for American goods to more markets, enforcing trade laws, and ensuring a level playing field in which American companies can compete.

These initiatives have and will continue to support business and create jobs. Over the last 35 months, they’ve already contributed to the creation of 6.1 million private-sector jobs. We at the International Trade Administration are proud to be a part of that success and we know that continuing these initiatives will lead to further economic growth.

The President specifically mentioned completing the Trans-Pacific Partnership and entering into a trade agreement with the European Union. Trade agreements like these proved effective in 2012, when we set a new record for U.S. exports. Recently released data show that almost half of the growth in U.S. exports in 2012 was to countries with which we have similar agreements. In fact, U.S. exports to the 20 countries with which we have trade agreements comprised almost half of American goods exports in 2012.

We achieved record levels of exports to 11 of our trade agreement partners in 2012. Five of them – Australia, Canada, Chile, Mexico and Peru – will all be a part of the TPP and accounted for more than $550 billion in U.S. exports. Completing this partnership will further develop our trade with these countries and help our exports continue to grow.

As Deputy Secretary of Commerce Rebecca Blank explained today, a trade agreement with the EU “will support good-paying American jobs and will expand our trade and investment relations, strengthen our economy, and create new opportunities on both sides of the Atlantic.”

President Obama also mentioned the importance of enforcing trade regulations and ensuring a level playing field in which American exporters can compete. We accomplish this mission every day at ITA, and we are proud to help American exporters compete as a lead member of the President’s Interagency Trade Enforcement Center.

The President has set a clear path to use export growth to help grow the American economy. We at the International Trade Administration are ready to do what it takes to continue to support President Obama’s mission and help support a thriving American economy.

Posted in Exporting, International Trade Administration, Uncategorized | Tagged EU, European Union, TPP, trade agreements, Trans-Pacific Partnership | Leave a Comment »

U.S. Recognizes Another Year of Export Growth

February 8, 2013

This post contains external links. Please review our external linking policy.

Francisco Sánchez serves as the Under Secretary of Commerce for International Trade. Mark Doms serves as the Under Secretary of Commerce for Economic Affairs. This post also appears on the Department of Commerce blog.

Last year was another record-setting year for U.S. exporters.

Data released today show that in 2012, American exports totaled $2.2 trillion, eclipsing the previous record of $2.1 trillion in exports in 2011.

Data from the Department of Commerce show that U.S. exports in 2012 totaled nearly $2.2 trillion, a record for American exports.

Data from the Department of Commerce show that U.S. exports in 2012 totaled $2.2 trillion, a record for American exports.

This represents more than just numbers on a spreadsheet; it’s further proof that “Made in the USA” products are in demand all over the world. It also means that more U.S. businesses are seizing the great opportunities in the global markets, continuing to help pave our nation’s road to economic recovery.

The increase in U.S. exports continues an upward trend that began in 2009. This trend has contributed to the creation of 6.1 million American private-sector jobs during the last 35 months. It is a direct result of President Obama’s National Export Initiative, part of a government strategy to strengthen our economy, support the creation of American jobs, and ensure long-term growth.

We are making historic progress toward the President’s goal of doubling exports by the end of 2014. Data show significant export growth in agriculture, motor vehicles, aerospace, and travel and tourism. The U.S. also continued to dominate exports in the services industry, worth over $632 billion, an increase of $26.4 billion over the previous year. This gave us a $195 billion trade surplus for services, which is a record surplus for the services industry.

There was significant growth in trade with the 20 countries sharing trade partnerships with the U.S. Exports to these countries grew at nearly twice the rate of exports to the rest of the world and represented nearly half of all U.S. exports in 2012. Exports to Panama and Colombia, two countries with which the U.S. entered trade agreements in 2012, achieved record highs.

U.S. businesses continue to face the challenge of slow growth in the global economy. That is why the Obama administration continues to do everything possible to support American farmers, workers, and businesses as they compete in the global marketplace. As the record data show, this work benefits American exporters and the U.S. economy.

We will continue to expound on the data here on the Tradeology blog, the Economic Statistics Administration blog, and on Twitter. You can also find a copy of the data here.

Posted in Exporting, International Trade Administration | Tagged export promotion | Leave a Comment »

Keeping Tune with American Exports

February 5, 2013

This post contains external links. Please review our external linking policy.

Nicole Y. Lamb-Hale is the Assistant Secretary for Manufacturing and Services in the International Trade Administration (ITA). Andrea DaSilva is ITA’s Senior Media & Entertainment Analyst and Project Leader for the Market Development Coordinator Program award with the American Association of Independent Music.

Last week, we stood at the intersection of creativity, technology and intellectual property.

We stood there with the American independent music industry, a provider of American jobs and a significant contributor to American culture. It’s an industry facing a difficult road through technology advancements, piracy concerns and a changing business structure.

That’s one reason why the U.S. government is supporting the independent music industry with a financial award. It’s happening through a joint public-private sector program called the Market Development Cooperator Program, or MDCP. This is a competitive financial assistance award the International Trade Administration (ITA) provides to industry groups pursuing projects that will help U.S. firms export and create jobs.

Assistant Secretary Nicole Y. Lamb-Hale (center) and Andrea DaSilva announce the awarding of a Market Development Cooperator Program award to the American Association of Independent Music.

Assistant Secretary Nicole Y. Lamb-Hale (center) and Andrea DaSilva (right) announce the awarding of a Market Development Cooperator Program award to the American Association of Independent Music (A2IM) at a music industry trade show. (photo courtesy A2IM)

In 2012, ITA selected the proposal submitted by the American Association of Independent Music (A2IM) for an MDCP. Indie music artists may not fit the traditional profile of a U.S. exporter, but the music industry directly supports American jobs. Most music labels and music publishers are small businesses. Behind music recordings are musicians, makers of music instruments, sound engineers, recording technicians, tour promoters, band managers, talent agents, marketing executives, and myriad other professions.

Indie music constitutes some of the most vibrant and uniquely American exports, supporting American culture and encouraging tourism to the U.S. Supporting American music exports creates American jobs, especially for small and medium sized businesses, and meets our National Export Initiative goals.

As a group representing a wide array of independent musicians, A2IM is working hard to protect the interests of artists in international markets. ITA is partnering with A2IM to help ensure a competitive market for American indie music on the global scene.

We announced this export project at MIDEM, the principal global trade show for the music industry, in Cannes, France in January. Via the MDCP, ITA will accompany A2IM representatives to trade shows, bring delegations to select markets to increase music licensing, and join forces with the music industry to support enforcement of copyright laws and educate consumers on the cost of “free” music. ITA’s Manufacturing and Services unit is providing one-third of the award, or about $285,000, to support A2IM’s mission to increase exports of American culture in the form of music. A2IM provides the remaining two-thirds in financial and in-kind contributions.

ITA looks forward to working with A2IM and the other eight industry groups who earned MDCP awards in 2012. ITA is currently accepting applications for the next round of awards and the 2013 application deadline is February 28. Interested industry associations or nonprofits should visit the MDCP website to learn more about the award and how to apply.

Posted in Exporting, Intellectual property, International Trade Administration, Manufacturing and Services | Tagged A2IM, Market Development Cooperator Program, MDCP | Leave a Comment »

Backing U.S. Industries to Support U.S. Exports

February 4, 2013

This post contains external links. Please review our external linking policy.

Chris Higginbotham is a communication specialist with the International Trade Administration’s Office of Public Affairs.

How could $300,000 help your industry increase exports?

The International Trade Administration (ITA) is accepting applications for federal funding for U.S. industries that are looking to increase the business they do overseas. Each year, ITA makes several financial assistance awards, called Market Development Cooperator Program (MDCP) awards, to industry groups to pursue projects that help U.S. firms export and create jobs.

“Any project we support has to aim to create or sustain U.S. jobs by increasing or sustaining exports,” says MDCP Director Brad Hess. “We’re specifically interested in industries with the capability to execute the projects they’re proposing.”

Nine industry groups earned awards up to $300,000 in 2012. On average from 1997 through 2012, every one dollar awarded has generated $258 in exports.

Industries receiving awards do need a solid business plan and must provide financial backing of their own to qualify for an MDCP award. For every dollar given to an industry by ITA, the industry group must provide two of its own.

The MDCP is not available to private companies; it’s specifically meant to help organizations that represent a large segment of an industry.

“The primary reason we have this program is that we can have an impact on more companies by reaching out to industry groups,” Hess said.

The application period closes on Feb. 28. ITA published a step-by-step guide to applying for an MDCP award.

Not every application earns a financial award, but any American business is welcome to seek help with competing globally throughout the year at one of ITA’s more than 100 offices in the U.S. and in more than 70 countries worldwide. ITA officials can also refer you to resources and respond to technical and informational questions during the MDCP application process.

Even if an application doesn’t earn funding, ITA debriefs all applicants and provides feedback as to why an application was or was not funded.

“It’s to an organization’s benefit to apply even if it doesn’t succeed,” Hess said. “Next year, that organization can apply again and utilize feedback to be really competitive for an award.”

The MDCP awards were created in legislation in 1988. Congress created the program as unique way to “develop, maintain and expand foreign markets for nonagricultural U.S. goods and services.” The first MDCP awards were given in 1993 totaling $2 million.

Visit the MDCP award homepage to learn more about the awards and the application process. If you have any questions about the program, please visit the frequently asked questions page. You can also contact Hess directly or join the conversation on Twitter using the hashtag #MDCPaward.

Posted in Exporting, International Trade Administration | Tagged Market Development Cooperator Program, MDCP, national export initiative, NEI | Leave a Comment »

Newly Updated National Export Strategy

January 8, 2013

John Larsen is the Deputy Director of the Trade Promotion Coordinating Committee Secretariat.

2012 National Export Strategy

The newly updated National Export Strategy Report to Congress highlights achievements of the Obama Administration in this third year of the National Export Initiative and lays out ambitious new plans of the Federal Government in 2013.

The past three years have seen record exports as U.S. companies, workers, and farmers responded to overseas market opportunities. For its part, the Obama Administration improved its promotion of U.S. exports in every area in 2012, including improved trade promotion and advocacy programs, greater access to trade financing, successful removal of trade barriers, and stronger enforcement of trade rules.

Highlights include increased collaboration with U.S. metropolitan areas; secured Congressional approval and the entry into force of market-opening trade agreements with Korea, Colombia, and Panama; improved U.S. supply chain infrastructure, and increased the focus on U.S. travel and tourism. In addition, agencies are staffing a new Interagency Trade Enforcement Center to level the playing field and enhance the investigation of unfair trade practices.

In the coming year, the Administration will streamline and modernize the delivery of U.S. export promotion services for U.S. small businesses. We are increasing the base of small business exporters through national marketing and training efforts, including outreach to community banks. We are also improving Export.gov and local export counseling services.

The Obama Administration is also laying the groundwork now for long-term U.S. economic growth and competitiveness. Federal agencies are helping U.S. companies secure infrastructure contracts overseas, strengthening the focus on the Asia-Pacific region, increasing commercial engagement with Africa, and supporting the work of SelectUSA to attract and retain more investment in the United States.

The National Export Strategy is featured on Export.gov and Trade.gov. It can be downloaded here.

Posted in Competitiveness, Exporting, Foreign Direct Investment, Interagency, International Trade Administration, Investment, Manufacturing, National Export Initiative, Services | 4 Comments »

Timely Trade Policy Mission to Japan Yields Insights on Renewable Energy and Smart Grid Business Opportunities

December 27, 2012

This post contains external links. Please review our external linking policy.

Cora Dickson is a Senior International Trade Specialist in ITA’s Office of Energy and Environmental Industries.

On a windy morning in early December, I stood on an observation platform gazing out over the sea of solar modules, and beyond that, the Pacific Ocean– or more precisely, Matsushima Bay, one of Japan’s “three most scenic spots.” I was joined on the platform by several U.S. companies, officials and colleagues from the International Trade Administration (ITA) and U.S. Department of Energy (DOE), and workers from the Tohoku Electric Utility who were taking us on a tour of their solar power station. The view was so breathtaking that it was hard to believe that in March 2011, the land where the solar panels now existed was covered by over 16 feet of water and debris from the tsunami.

International Trade Administration and Department of Energy employees pose for a photo with trade mission participants and workers from the Tohoku Electric Utility on an observation platform above Matsushima Bay in Japan in December 2012.

This was the final stop in our “Tohoku (Northeast) Tour” to Fukushima and Miyagi, prefectures that are committing themselves to rebuilding with green technologies after being hit hard by the earthquake and tsunami. The U.S. companies that signed up for the U.S.-Japan Renewable Energy Policy Business Roundtable in Tokyo on December 3 were given the option to take this tour, which also included courtesy call meetings with officials of both prefectures.

Led by ITA’s Deputy Assistant Secretary for Manufacturing Maureen Smith and DOE’s Deputy Assistant Secretary Phyllis Yoshida, the trade policy mission accomplished its goals: to gain insights into the evolving policy and regulatory landscape for renewable energy and smart grid in Japan. It was tied to our bilateral discussions, known as the U.S.-Japan Clean Energy Policy Dialogue, allowing private sector input to guide the direction of cooperative activities between our governments.

Prior to the trade mission, my office published a market intelligence brief, “Japan’s Electricity Market and Opportunities for U.S. Renewable Energy and Smart Grid Exporters,” to highlight the complexity yet attractiveness of this burgeoning market. While Japan is no stranger to renewable energy, it has revisited its policies and incentives due to several factors, including the March 2011 disaster that led to a shutdown of all but two nuclear plants in the country. There is even talk of structural reform in the electricity sector.

Cora Dickson of the International Trade Administration stands by a sign indicating the high water mark of the floodwaters at the Tohoku Electric Utility’s liquified natural gas plant following the March 2011 earthquake and tsunami.

Another opportunity for U.S. renewable energy and smart grid companies to explore Japan’s market is coming up February 27-March 1 at the World Smart Energy Week in Tokyo, a Commerce certified trade show. Please contact Takahiko Suzuki if you would like more information.

We will continue to shore up our alliance with the Government of Japan as well as Tohoku communities to promote clean energy. The Tohoku Tour allowed us to talk with local people about how they envision renewable energy and smart grid technologies will help them manage their energy needs in the wake of the disaster.

On the same grounds of the solar plant in Tohoku, we also briefly visited the 400 MW liquefied natural gas plant operated by the same utility. It had been converted from a coal plant years earlier. The plant was strong enough to withstand the tsunami, though the workers told of how they retreated to the third floor for several days until the floodwaters receded. They had no power and they could not contact their families because all the phone towers were also destroyed.

As our bus rolled back towards the city where we would catch the bullet train to return to Tokyo, we saw newly reconstructed houses on the coastline as well as abandoned foundations. These were solemn reminders that Japan is both vulnerable and resilient, and will take proactive steps towards a better future. We hope U.S. companies can partner with them to reach their goals.

Posted in Exporting, Trade Missions, Manufacturing and Services, International Trade Administration, Green and Sustainable, Interagency | Tagged smart grid, renewable energy, Trade Mission, Japan | 1 Comment »

Department of Commerce Working with EPA on Export Promotion

December 14, 2012

Todd DeLelle is an international trade specialist in the International Trade Administration’s Office of Energy and Environmental Industries.

Commerce Department and the Environmental Protection Agency (EPA) officials will be participating in a series of collaborative activities to promote exports of U.S. environmental solutions during POWER-GEN International, the industry leader in providing comprehensive coverage of the trends, technologies and issues facing the generation sector. At this year’s show, EPA participation has been folded into the International Buyer Program, a joint U.S. government-industry effort designed to stimulate U.S. exports by promoting U.S. industry exhibitors to foreign markets. Department of Commerce and EPA representatives are meeting with power industry delegates from international markets and U.S. companies at the show’s Global Business Center.

The Department of Commerce and EPA continue to work together to promote U.S. technology exports by integrating EPA’s technical analysis into Commerce’s export promotion and trade policy activities. The two agencies lead The Environmental Export Initiative – an effort to enhance interagency efforts to support U.S. exports of technologies relevant to air emissions, water treatment, and solid waste management. The Initiative was publicly announced on May 14, 2012 at American University by then-Commerce Secretary Bryson, EPA Administrator Jackson, U.S. Trade Representative Kirk, and Secretary of Agriculture Vilsak. In 2010, the United States industry that supplies these goods and services generated an estimated $312 billion in revenue, employed 1.7 million Americans, and experienced a trade surplus of approximately $13 billion, according to Environmental Business International. Its export activities underpin the advancement of environmental quality and human health in other parts of the world, while supporting increased jobs and economic activity in the United States.

While at the show, Commerce and EPA officials will be touting the recently developed Environmental Solutions Exporter Portal. The portal represents a on-line resource for companies interested in U.S. government services and products that facilitate exports. It provides a direct line to U.S. trade and environmental protection specialists and includes information on foreign environmental markets, export facilitation services, export finance products, trade promotion events, and policy initiatives that support the U.S. technology exports.

The Portal also links EPA analysis of key global environmental issues with U.S. solutions providers in the U.S. Environmental Solutions Toolkit. Currently, the Toolkit includes modules on groundwater remediation, nutrient removal in municipal water treatment, emissions control from large marine diesel engines, and mercury control from power plant emissions. The addition of supplemental air pollution control areas is currently underway, including those relevant to: nitrogen oxides emissions control from power plants, air issues relevant to the oil and gas industry, and emissions from non-road diesel engines.

For more information, including how companies can participate, please visit the portal at www.export.gov/envirotech or www.epa.gov/international/exports.

Posted in Exporting, Trade Shows and Trade Events, International Trade Administration, Manufacturing, Interagency | Tagged IBP, EPA, environmental technology, Office of Energy and Environmental Industries, International Buyer Program | Leave a Comment »

Brief Review of U.S. SME Trading Companies in 2010

December 6, 2012

David Moore is an economist in the Office of Trade and Industry Information within the International Trade Administration.

This week the International Trade Administration’s Office of Trade and Industry Information released an annual update to its website for the U.S. Commerce Department’s Exporter Database (EDB) for 2010. This joint project with the U.S. Census Bureau’s Foreign Trade Division is the cornerstone of ITA’s Trade Data Enhancement Initiative, the goal of which is to develop and disseminate improved statistical information on U.S. international trade and its role in the U.S. economy. Additional information on the EDB can be obtained by viewing the U.S. Census Bureau’s Profile of U.S. Exporting Companies, 2009-2010.

In 2010, more than 293,000 U.S. companies exported goods, up 6.0 percent from the revised 2009 estimate of 276,600. In 2010, nearly 98 percent of U.S. exporters (286,661) were small or medium-sized companies (SMEs*) with fewer than 500 employees, a 6.1 percent increase over 2009. Further, the known merchandise export value of SMEs rose to $383.4 billion in 2010, up 24.1 percent from 2009 and this accounted for 33.7 percent of the $1,138 billion total known merchandise export value of all companies.

Known Merchandise Export Value of Trading Companies, 2009 and 2010 in U.S. dollars. All identified companies $940,400,000 in 2009 and $1,137,600,000. SME's $308,900,000 in 2009 and $383,400,000 in 2010. Companies with 500 or more employees $631,500,000 in 2009 and $754,200,000 in 2010.

SME Exports at the State Level

SME exports are concentrated in the largest exporting states, with the top four exporting more than $30 billion from SMEs. California had the largest value of SME exports ($68.1 billion) in 2010, followed by Texas ($51.2 billion), New York ($34.4 billion), and Florida ($33.6 billion).

Note: SME values for Vermont are unavailable for 2010.

However, SME exporters represent a large share of the value of U.S. exports in both small and large states. 79 percent of Montana’s exports in 2010 were from SMEs, the highest share in the nation. Florida, Rhode Island, Wyoming, and New York all had an SME share of exports over 50% as well.

SME Exporters at the Metropolitan Level

The New York metro area had the largest number of known SME exporters at 32,300, followed closely by Los Angles (32,100), Miami (26,300), Chicago (13,300), and Houston (10,500). Further world destination break-outs by the European Union-27, NAFTA, ASEAN, and DR-CAFTA are shown below. Other country groupings such as APEC and OPEC can also be accessed using the EDB website.

SME Exporters at the Five-Digit Zip Code Level

Of the 25,754 zip-codes in the U.S. reporting at least one SME exporter, nine of these zip-codes reported one thousand or more SME exporters. Miami had the largest concentration in five zip codes (33166, 33172, 33178, 33122, 33126), followed by New York in three zip codes (10036, 10018 and 10001) and Los Angeles in one (90021). Further, 673 zip-codes reported between 100 – 923 known SME exporters, while the remaining balance of zip codes reported between 1 and 99.

In closing, the EDB offers a whole host of information on U.S. exporters, not only by company size and type (manufacturers, wholesalers and other non-manufacturing firms) but also by 3 and 4 digit NAICS product codes, and export country destination, etc. This is just a small slice of EDB data available on our website, but we encourage U.S. companies and professionals working in global trade, policy, cooperation and promotion to utilize this snap-shot of 2010 as they continue to map out their strategies for export success in the future.

*SMEs are defined as firms that have fewer than 500 employees. All figures in this overview include only identifiable or “known” exports, i.e., exports that can be linked to individual companies using information on U.S. export declarations.

Posted in Exporting, International Trade Administration, Manufacturing and Services | Tagged EDB, exporter database | 3 Comments »

Seize the Opportunity and Expand to Africa with the Doing Business in Africa Campaign

November 28, 2012

Francisco Sánchez serves as the Under Secretary of Commerce for International Trade. Follow him on Twitter @UnderSecSanchez.

Aerial view of Cape Town, South Africa. (photo © Graham Bedingfield/iStock)

Now is a great time to do business in Africa. Consider these stats, highlighted today in remarks given by Acting Secretary Rebecca Blank:

Sub-Saharan Africa is home to 6 of the 10 fastest growing markets in the world.
Economic growth in the region is predicted to be strong – between 5 and 6 percent – in coming years.
And – most importantly – millions of Africans are finding a path from poverty to greater opportunity and prosperity.

This progress is good news for our friends in Africa; it’s also good news for American businesses. As these numbers show, the growing African market is an increasingly attractive destination for quality products and services. It just so happens that goods that are “Made in America” are the best in the world. Now, we just need to link this supply with the demand, and make it easier for U.S. firms to operate in the dynamic African market.

One important effort towards achieving this goal: the “Doing Business in Africa” (DBIA) campaign which I launched with Acting Secretary Blank in South Africa earlier today.

It’s a whole-of-government approach that will:

promote more U.S. trade with Africa;
increase trade financing;
and engage with important stakeholders – like the United States’ African Diaspora community – to ensure they have all the tools needed to do business in the African market.

To achieve these goals, the campaign is involved in a number of initiatives, including:

organizing an Africa Global Business Summit Series so that U.S. companies can hear directly from our Ambassadors in Africa and Senior Commercial Officers about opportunities in the region;

opening the U.S.-Africa Clean Energy Development and Finance Center in Johannesburg, South Africa in 2013 to help identify and access U.S. government support for clean energy export and investment needs; and

developing an Africa Business Portal, providing valuable information about trade assistance programs and financing.

To learn more about the DBIA campaign, visit the website. It’s sure to represent an important step towards the goal of increased prosperity and opportunity.

Another important step that coincided with the launch of the DBIA campaign is our historic trade mission to Zambia – the first-ever. I am currently leading a delegation of 13 U.S. companies to both Zambia and South Africa.

This trade mission represents an important opportunity for U.S. businesses. Trade between the U.S. and these two countries is booming. In the case of U.S. and Zambia, total bilateral trade more than doubled in 2011.

In the case of South Africa, the largest U.S. export market in Sub-Saharan Africa, total U.S.-South Africa trade was nearly $17 billion in 2011, up from $13.9 billion the year before. And, both the companies on the mission and the parties we are meeting with are determined to keep this momentum going.

To accomplish this, we are talking with public and private sector officials to facilitate U.S. business opportunities in Sub-Saharan Africa. Participating firms are gaining market insights, making industry contacts, and solidifying business strategies with the goal of increasing U.S. exports to the region.

By boosting U.S. exports, we can strengthen the American economy and fuel economic growth. This work also advances the President Obama’s vision of greater U.S. engagement in Sub-Saharan Africa, as outlined by the Administration’s “U.S. Strategy on Sub-Saharan Africa” released in June.

All of us at the Department of Commerce share the President’s belief that Africa can be the world’s next great economic success story and value the opportunity to leverage our resources to support this trade mission and the Doing Business in Africa campaign.

Visit the DBIA website on Export.gov to learn more about this exciting new initiative.

Posted in Exporting, Trade Shows and Trade Events, International Trade Administration, Finance, Investment | Tagged South Africa, Africa, Sub-Saharan Africa, Doing Business in Africa, Zambia | 4 Comments »

What’s New in the Third Edition of the Trade Finance Guide?

November 27, 2012

This post contains external links. Please review our external linking policy.

Yuki Fujiyama, a trade finance specialist with the Office of Financial Services Industries in the International Trade Administration, is the author of The Trade Finance Guide: A Quick Reference for U.S. Exporters.

On November 13, 2012 in Philadelphia, we unveiled the third edition of the Trade Finance Guide: A Quick Reference for U.S. Exporters at the 23rd Annual Finance, Credit, and International Business Association (FCIB) Global Conference. Acting U.S. Commerce Deputy Assistant Secretary for Services Industries Carlos F. Montoulieu released the new edition emphasizing that, “This concise and easy-to-understand guide is designed to help U.S. small and medium-sized enterprises (SMEs) learn quickly how to get paid from export sales in the most effective manner.”

What is the Trade Finance Guide?

Trade Finance Guide: A Quick Reference for U.S. Exporters, third edition

The Trade Finance Guide covers 14 subject areas in easy-to-understand two page chapters that are written in plain language. The Guide is:

A “60-minute” self-learning tool for new-to-export SMEs that wish to learn how to get paid from export sales.
A user-friendly tool for international credit, banking, trade finance professionals and export counselors for client assistance.
A flexible educational tool for professionals teaching international business.

The Guide uses a no-nonsense approach to make it easy to understand the importance of choosing the appropriate payment method and trade finance technique when dealing with international transactions. With a quick rundown of the pros and cons provided in each chapter, new-to-export SMEs will find the Guide’s recommendations for when one payment method and trade finance technique is best suited over another particularly helpful. With some 300,000 copies distributed to the public since the release of its first edition in 2007, the Trade Finance Guide has become one of the most popular export assistance resources published by the Commerce Department.

What’s New and Unique?

The third edition of the Trade Finance Guidehas been updated with new key information, refined to provide better clarity and adds two new chapters:

The Trade Finance Guide 3rd edition is released at the 23rd Anual Finance Credit and International Business Association Global Conference. From L-R Marta Chacon, Director, North American Operations, FCIB, Robin Schauseil, President, NACM (FCIB’s parent – National Association of Credit Management), Carlos Montoulieu, Acting DAS/Services Industries, Yuki Fujiyama, Trade Finance Specialist, OFSI/MAS/ITA, Ron Shepherd, Director, Membership & Business. Development, FCIB

Consignment which explains how selling on consignment can provide the exporter some greater advantages which may not be obvious at first glance
Government-Backed Agricultural Export Financing which describes how U.S. exporters of agricultural products can turn sales opportunities, especially in risky emerging markets, into real transactions and get paid.

In addition to new content and updates, the third edition also offers unique features that make the Trade Finance Guide one of the most user-friendly publications produced by the Commerce Department. The new Guide is:

Easily accessible online to anyone with internet access and designed for both easy download and on-screen viewing.
Printer friendly because it was designed with printing in mind.
Eco-responsible because it was designed for digital distribution and to only use the smallest amount of paper and ink or toner possible when printed.

In addition, the new Trade Finance Guide is the first official ITA publication to have adopted a QR Code to make it easy for those with smart-phones to access the Guide’s homepage in cyberspace.

Partnership and Cooperation

The Trade Finance Guide was created in partnership with FCIB and in cooperation with the U.S. Export–Import Bank, the U.S. Small Business Association, the U.S. Department of Agriculture, the International Factoring Association, the Association of Trade & Forfaiting in the Americas, and BAFT-IFSA (Bankers Association for Finance & Trade–International Financial Services Association). FCIB, a two-time recipient of the President’s “E” Award, is a globally recognized business educator of credit and risk management professionals in exporting companies ranging in size from multinational to SMEs.

How to Obtain the Trade Finance Guide

Trade Finance Guide, third edition QR Code

The Guide is available through the U.S. government’s export portal, Export.gov/TradeFinanceGuide, both as a complete guide and as individual chapters for those only wishing to learn a specific trade finance technique. You may also scan the QR Code below to go straight to the Guide’s homepage.

Coming Soon: Trade Finance Guide in Spanish

The Commerce Department is currently working with the California Centers for International Trade Development to create a Spanish version of the Trade Finance Guide. The Spanish version will help SMEs expand their global presence, especially in Mexico and Latin America, where Spanish is the primary language. Please stay tuned as the Trade Finance Guide’s inaugural Spanish version is scheduled for release in a few months!

Posted in Competitiveness, Exporting, Finance, International Trade Administration, Manufacturing and Services, Small Business | Tagged publication, trade finance, trade finance guide | 3 Comments »

Tradeology, the ITA Blog

Archive for the ‘Exporting’ Category

President Obama Prescribes Increase in U.S. Exports to Support Economic Growth

U.S. Recognizes Another Year of Export Growth

Keeping Tune with American Exports

Backing U.S. Industries to Support U.S. Exports

Newly Updated National Export Strategy

Timely Trade Policy Mission to Japan Yields Insights on Renewable Energy and Smart Grid Business Opportunities

Department of Commerce Working with EPA on Export Promotion

Brief Review of U.S. SME Trading Companies in 2010

Seize the Opportunity and Expand to Africa with the Doing Business in Africa Campaign

What’s New in the Third Edition of the Trade Finance Guide?

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