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Keeping Tune with American Exports

February 5, 2013

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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 , , | Leave a Comment »

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

December 27, 2012

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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.

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.

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, Green and Sustainable, Interagency, International Trade Administration, Manufacturing and Services, Trade Missions | Tagged , , , | 1 Comment »

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Turkish Market Holds Opportunity for U.S. Businesses

December 13, 2012

Kristin Najdi is a Senior International Trade Specialist at the International Trade Administration

Last week, I had the opportunity to accompany Under Secretary of Commerce for International Trade Francisco Sánchez as he led a trade mission of 18 aerospace and defense companies to Ankara and Istanbul, Turkey. The trade mission helped connect U.S. businesses with Turkish partners to identify export opportunities, but also to strengthen the commercial and strategic ties between our two countries.

Strategically positioned at the crossroads of Europe, Asia and the Middle East, Turkey is a high priority market for the United States. With a population of more than 70 million, Turkey continues to be a vital economic hub for the region—with real GDP growth estimated at 8.2 percent in 2011, making it one of the fastest growing economies in the G-20.

President Obama’s April 2009 visit to Turkey – his first overseas trip – emphasized the importance of closer commercial ties between our two countries and continues to reap economic benefits. In fact, total bilateral U.S.-Turkey merchandise trade reached nearly $20 billion last year – an all-time record – and a 34 percent increase over the previous year.

Here at the International Trade Administration (ITA), we take pride in playing a key role in making it easier for U.S. companies to do business around the world, including in Turkey.  To support this effort, Under Secretary Sanchez spoke at “The Ease of Doing Business Symposium” in Ankara, which was co-organized by ITA.  During his presentation he highlighted challenges and opportunities in the Turkish market, and proposed concrete reforms.  He also held various bilateral meetings with his counterparts in the Turkish government to discuss ways of further strengthening our bilateral commercial relations.

Another key outcome of this trip was Under Secretary Sánchez’s announcement of the new U.S. private sector members of the U.S.-Turkey Business Council.  The Council is made up of senior-level executives from the United States and Turkey and provides joint policy recommendations to both governments on ways to strengthen bilateral economic relations.

U.S. businesses on this mission—with their innovative technologies and services—are well- positioned to help support Turkey’s aerospace and defense sectors. For example, the mission included a world leader in the design, manufacture, and marketing of thermal imaging and stabilized camera systems; a company with a strong set of businesses specializing in global infrastructure and finance; and well-known commercial jet and military aerospace manufacturers.

Our mission delegation was especially enthusiastic about the Turkish market for U.S. suppliers seeking joint-venture opportunities, including expanding opportunities for small and medium-sized enterprises in the United States to support the continued modernization of the Turkish Armed Forces.

We also focused on the growing civil aviation market. Turkey, with its strategic geographic location, is located three hours by plane to 1.5 billion people and $23 trillion in GDP, and Turks have increasingly come to rely on domestic and international air service over the past years. Since 2002, there has been a 372 percent increase in domestic passenger traffic, a 77 percent increase in international passenger traffic and a 153 percent increase in total (domestic & international) passenger traffic. Overall, 329 private airline companies operate in the Turkish aerospace industry, 17 of which are Turkish. These companies are creating demand for aircraft parts as well as safety equipment, training and management – all of which are goods and services U.S. companies are well-poised to provide.

This trip was a great success in many respects.  It opened doors for new business opportunities for U.S. companies and continued Commerce’s high-level engagement with the Turkish Government to strengthen our bilateral economic and commercial relationship.

Posted in International Trade Administration, Manufacturing and Services, Trade Missions | Tagged , | 4 Comments »

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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).

SME export value at the state level in U.S. dollars. California: $68,087,967,616, Texas: $51,200,446,724, New York: $34,394,384,363, Florida: $33,557,306,907, New Jersey: $15,122,026,840, Illinois: $14,445,622,703, Pennsylvania: $12,519,691,700, Washington: $11,017,998,632, Michigan: $10,506,510,110, Massachusetts: $10,051,122,079, Ohio: $9,321,029,844, Louisiana: $8,806,538,601, Georgia: $8,448,288,399, Puerto Rico: $7,051,941,052, Minnesota: $5,740,296,134, Oregon: $5,649,311,876, North Carolina: $5,599,660,584, Wisconsin: $5,531,778,198, Connecticut: $5,372,732,418, Indiana: $4,974,567,439, Virginia: $4,139,241,848, Tennessee: $4,023,677,667, Missouri: $3,775,289,203, Arizona: $3,578,474,711, Kentucky: $3,484,101,860, Kansas: $3,258,410,258, Maryland: $2,819,330,154, Colorado: $2,671,823,591, South Carolina: $2,632,285,300, Utah: $2,584,426,888, Alabama: $2,561,215,935, New Hampshire: $1,776,065,210, Iowa: $1,745,671,009, Oklahoma: $1,622,778,640, Nebraska: $1,409,866,973, Mississippi: $1,407,996,974, Nevada: $1,210,149,129, West Virginia: $1,144,895,941, Montana: $1,059,154,716, Rhode Island: $1,054,668,411, Idaho: $1,031,234,308, Maine: $992,455,877, Arkansas: $898,080,029, Delaware: $775,404,661, District Of Columbia: $688,447,135, New Mexico: $680,508,632, North Dakota: $562,363,709, South Dakota: $443,896,862, Alaska: $394,898,004, Hawaii: $161,527,055, Wyoming: $141,245,194, Vermont: No data available for Vermont in 2010.

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.

Selected state SME share of exports: Montana: 79%, Florida: 68%, Rhode Island: 63%, Wyoming: 56%, New York: 55%.

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.

Number of Known SME Exporting Companies to Select World Regions by Metro. New York Metro: 11,645 to the EU, 10,540 to NAFTA, 2,370 to DR-CAFTA, and 3,436 to ASEAN; Los Angeles Metro: 8,938 to the EU, 12,242 to NAFTA, 1,947 to DR-CAFTA, and 4,548 to ASEAN; Miami Metro: 4,194 to the EU, 3,985 to NAFTA, 5,730 to DR-CAFTA, and 1,234 to ASEAN; Chicago Metro: 4,184 to the EU, 6,639 to NAFTA, 910 to DR-CAFTA, and 1,614 to ASEAN; Houston Metro: 2,640 to the EU, 3,653 to NAFTA, 649 to DR-CAFTA, and 1,740 to ASEAN.

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.

SME Exporters by zip code. In Miami, zip code 33166 has 4,023 SME exporters, zip code 33172 has 2,317 SME exporters, zip code 33178 has 2,033 SME exporters, zip code 33122 has 1,573 SME exporters and zip code 33126 has 1,203 SME exporters. In New York, zip code 10036 has 1,625 SME exporters, zip code 10036 has 1,354 SME exporters, and zip code 10001 has 1,273 SME exporters. In Los Angeles, zip code 90021 has 1,109 SME exporters.

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 , | 3 Comments »

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Interest in Overseas Pension Markets Continues to Grow, Spurring Public-Private Cooperation

December 4, 2012

Michael Corbin is an international trade specialist for asset management and private pensions in the International Trade Administration’s Manufacturing and Services unit. In nearly fourteen years of service his portfolio has included asset management, hedge and sovereign wealth funds, insurance and private pensions

The U.S. asset management sector has long been one of the great success stories of U.S. business, both at home and abroad.  U.S. companies accounted for nearly half of the world’s $85.2 trillion in assets under management in 2011.  U.S. asset managers are increasingly looking abroad to secure future business and take advantage of developing growth opportunities in the sector.

Why look overseas?

A month ago I had a conversation with an executive from a fortune 500 investment company. He told me that the U.S. market has become saturated, with many individuals receiving payouts rather than paying into the system.  He explained that we also are witnessing a major shift globally from defined benefit plans to defined contribution plans.  In a defined benefit plan, the employer promises to pay a certain monthly benefit upon retirement based on a specified criteria (e.g.,  age and  years worked). In a defined contribution plan, individual accounts are set up for participants and benefits are based on the amounts credited to these accounts (through employer contributions and, if applicable, employee contributions) plus any earnings on the money invested in the account. In the vast majority of the developing world, defined contribution systems are the default pension schemes.

The need for greater cooperation

Manufacturing and Services’ (MAS) Office of Financial Services Industries (OFSI) has seen an increased demand for assistance to companies seeking  to secure greater market access and increase brand awareness.  Just in the past few months OFSI’s asset management related work has included:

  • Collaborating with U.S. Embassy in Kuala Lampur, Malaysia and the Principal FinancialGroup as it unveiled a new agreement to manage private pensions in Malaysia.  The agreement will allow CIMB – Principal to establish a collaboration with employers to systematically introduce their employees to Private Retirement Schemes (PRS) and encourage greater retirement savings. A signing ceremony on 21 November publicly highlighted this historic agreement and market access success for an American asset manager.  (photo included)
  • In June I participated in a conference in Russia where I presented an overview of the U.S. insurance and pension systems to their membership and select regulatory officials and discussed steps Russia needed to take to accede to the OECD Insurance and Private Pension Committee.
  • OFSI provided critical analysis and recommendations to a U.S. insurer requiring immediate assistance regarding potential legislation impacting the Polish pension market.
  • OFSI, Embassy Lima in Peru, and the Investment Company Institute collaborated to organize a conference call between major U.S. mutual funds and insurers and the Peruvian Supervisory Authority. The Peruvians specifically requested U.S. expert opinion on their new pension reform before the scheduled public announcement in December.

These examples highlight how the International Trade Administration’s MAS unit is working with U.S.-based asset management firms to  expand U.S. financial services exports and their business  in foreign markets.  We anticipate the need for MAS’s services and expertise to grow as will opportunities and successes for U.S. companies.

Posted in Finance, International Trade Administration, Manufacturing and Services, Services | Tagged , , , , | Leave a Comment »

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U.S. Medical Center Partners with Kuwaiti Institution and U.S. Embassy for World Diabetes Day

November 29, 2012

Steve Miller is an International Trade Specialist in the International Trade Administration’s Office of Service Industries where he is responsible for knowledge economy issues including health services, research and development services, and university commercialization.

Ambassador Tueller (left) and Dr. Kazem Behbehani, Director General of the Dasman Diabetes Institute at the "Diabetes 101: Understanding Diabetes Worldwide" Digital Video Conference on November 14, 2012.

Ambassador Tueller (left) and Dr. Kazem Behbehani, Director General of the Dasman Diabetes Institute at the “Diabetes 101: Understanding Diabetes Worldwide” Digital Video Conference on November 14, 2012.

On November 14 the U.S. Ambassador to Kuwait, Matthew Tueller, along with representatives from U.S. and Kuwaiti healthcare institutions participated in a Digital Video Conference (DVC), Diabetes 101: Understanding Diabetes Worldwide to provide education on this healthcare challenge and create linkages between clinicians in both countries. The event was hosted by Kuwait’s previer diabetes research and treatment facility, Dasman Diabetes Institute, the U.S. Embassy in Kuwait and San Antonio’s Methodist Healthcare Systems. Methodist is one of over 30 U.S. academic medical centers that comprise the United States Cooperative for International Patient Programs (USCIPP), a joint program between the University HealthSystem Consortium and the International Trade Administration, through its Market Development Cooperator Program (MDCP).

Nearly 60 doctors, nurses, clinicians, diabetes educators and nutritionists from Dasman’s multinational staff were in attendance in addition to several Kuwaiti health care professionals and a number of local journalists from print and television. Opening the event, Ambassador Tueller highlighted the important role that medicine has played in the U.S.-Kuwait relationship, beginning with the establishment of the first hospital in Kuwait, the Amrikani Hospital, by American missionaries in 1912. The Ambassador further noted that, just like in Kuwait, Type 2 diabetes is also a problem in the U.S. and that events such as this DVC illustrate how Americans and Kuwaitis can come together to address mutual concerns and share best practices and experiences to move toward a common goal.

Following the Ambassador’s remarks, Ms. Sara Villegas, a veteran diabetes educator from Methodist Healthcare Systems, gave an overview of diabetes in the U.S., primarily focusing on Type 2 diabetes. Her presentation not only addressed the current situation in the U.S., but also highlighted prevention and disease management strategies. After a brief look at the global scope of the disease, she turned the stage over to Dasman Diabetes Institute Director Dr. Kazem Behbehani, who discussed the rampant increases in Type 2 diabetes in Kuwait over the last twenty years, and the challenges that the country will potentially face if the disease is not checked. In their presentations, both speakers stressed the importance of prevention and awareness activities in combating the disease.

The DVC received widespread and favorable media coverage, with stories appearing in many of Kuwait’s daily Arabic and English newspapers, and reports carried on several local television stations.

Additional events are planned between healthcare institutions in the U.S. and the region. More on ITA’s MDCP program can be found at http://www.trade.gov/mdcp.

Posted in Interagency, International Trade Administration, Manufacturing and Services, Services, Trade Shows and Trade Events | Tagged , , , | Leave a Comment »

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

November 27, 2012

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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

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

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

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 , , | 3 Comments »

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Health Information Technology Shows Continuing Potential as Strong Export Sector

October 15, 2012

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Fred W. Aziz is Associate Director of Technology and E-Commerce at International Trade Administration, where he covers innovation sectors such as cloud computing, Health IT, and software.   

Matthew Hein is an International Trade Specialist on the Pharmaceutical and Medical Devices Team in the Office of Health and Consumer Goods, and also is part of a cross-office team following Health IT.

Steve Miller is an International Trade Specialist in the International Trade Administration’s  Office of Service Industries where he is responsible for knowledge economy issues including health services, research and development services, and university commercialization.

The intersection of information technology and health (hereafter Health IT) has recently been an area of increased focus, jump-started by the American Recovery and Reinvestment Act (ARRA) in February 2009 and the more than $22 billion in ARRA funding designated to bring electronic health records (EHRs) to the majority of Americans by 2014.

However, EHRs are only as useful as the quality of data and images contained within them, and will be trusted by patients when strong privacy and security protocols exist to appropriately control information access.  In addition, healthcare workers need to be trained on how to effectively use EHRs.

All these areas are of high interest to the American Health Information Management Association (AHIMA), an association leading efforts to manage health data and medical records, improve health record quality, and develop certification and education programs for industry members.

ITA’s Manufacturing and Services unit identified Health IT as a priority sector under the National Export Initiative for potentially strong export growth, and looks forward to continuing collaboration with companies and industry trade associations to promote increased Health IT exports of products and services.

On October 2, Assistant Secretary of Commerce for Manufacturing and ServicesNicole Y. Lamb-Hale gave the keynote speech at the inaugural Health Information Innovation Leadership Conference, done in conjunction with AHIMA’s Annual Conference and Exhibit in Chicago.  She provided insight on how innovative U.S. companies can address health information needs in countries worldwide, as well as some of the trade-related considerations about exporting products and services overseas.  In addition, she provided information about available ITA tools to help companies export.

Ms. Lamb-Hale also led an industry roundtable with about 20 AHIMA member companies (from health services, medical device, consultancies and software companies) to learn more about their market access challenges and opportunities as they investigate commercial opportunities abroad.

This was the third roundtable Ms. Lamb-Hale has led with the Health Information Technology (Health IT) industry since June 2011, with the initial event occurring at the White House Conference Center with the support of the Office of National Coordinator for Health IT within the Department of Health and Human Services and the White House Office of Science and Technology Policy.

Posted in Competitiveness, International Trade Administration, Manufacturing and Services, Services | Tagged , | 4 Comments »

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ITA Under Secretary Promotes Manufacturing During Three-State Tour

October 5, 2012

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Sophia Lu is a Fellow at the International Trade Administration Office of Legislative and Intergovernmental Affairs. She is currently an MA candidate in International Affairs at The George Washington University Elliott School of International Affairs.

Under Secretary Francisco Sanchez (center) meets with Jet Inc.'s President Ron Swinko (far left) and other staff at their manufacturing facility in Cleveland, OH as part of the "Made in America Manufacturing Tour." in October 2012.

Under Secretary Francisco Sanchez (center) meets with Jet Inc.’s President Ron Swinko (far left) and other staff at their manufacturing facility in Cleveland, OH as part of the “Made in America Manufacturing Tour.” in October 2012.

On October 2nd, U.S. Under Secretary of Commerce for International Trade Francisco Sánchez commenced a four-city tour of American manufacturing cities to promote the benefits of strengthening America’s manufacturers and expanding U.S. exports to create jobs. This “Made in America Manufacturing Tour” supports President Obama’s National Export Initiative (NEI), which seeks to double U.S. exports by the end of 2014. Just last year, exports supported 9.7 million American jobs, an increase of 1.2 million American jobs from 2009.

On his first stop in Toledo, Ohio, Under Secretary Sánchez met with company officials and toured the manufacturing facility of Bionix Development Corporation. Bionix was recently honored with the President’s “E” Award, which was created by Executive Order of the President in 1961 to give recognition to person, firms, or organizations who contribute significantly in the effort to increase U.S. exports.

Sánchez then traveled to Cleveland, Ohio and held a forum at the City Club of Cleveland on the “Resurgence of American Manufacturing”.  There he also met with the Northeast Ohio District Export Council and the local business community for a roundtable discussion on the role of exporting and manufacturing in the NEI. While in Cleveland, he also toured the manufacturing facilities of Jet, Inc. and Codonics, Inc., both of which are also “E” Award winners.

The following day, the Under Secretary continued his tour in Pittsburgh, Pennsylvania. He delivered a convocation lecture at Carnegie Mellon University, highlighting the importance of commercial diplomacy and how international trade drives economic growth. Under Secretary Sánchez also participated in a roundtable discussion hosted by the Western Pennsylvania District Export Council. He then met with officials and toured the manufacturing facility of Cardinal Resources, a company that has succeeded in growing its exports due to the assistance from the International Trade Administration’s (ITA) local U.S. Export Assistance Center.

On October 5th, Under Secretary Sánchez made the last stop of the “Made in America Manufacturing Tour” in St. Louis, Missouri, where he met with the Missouri District Export Council and visited Ranken Technical College. He concluded the Tour with participation in a CEO roundtable event with representatives from local manufacturing firms.

The reason this Manufacturing Tour is so timely is that exporting is boosting the U.S. manufacturing sector. In fact, exports in manufactured goods increased by $358 billion (39 percent) since 2009, reaching a record $1.3 trillion in 2011. And manufacturing employment has gained 532,000 jobs over the past 30 months, the strongest growth for any 30-month period since June 1989.

Even as the tour concludes, the International Trade Administration won’t stop working to help support American manufacturers. To keep up to speed on our activities, follow us on Twitter at @TradeGov and @UnderSecSanchez.

Posted in International Trade Administration, Manufacturing, Manufacturing and Services | Tagged | Leave a Comment »

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ITA and American Businesses: Partners for Progress

October 2, 2012

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Francisco Sánchez is the Under Secretary for International Trade.

At the International Trade Administration, we work every day to help U.S. businesses compete and succeed in the global markets.  In my view, this work is more important than ever.  More than 9 out of every 10 of the world’s customers live outside our borders. In order for our nation to compete in the 21st century, it’s critically important that American goods reach these foreign buyers.

ITA’s talented staff works every day to achieve this goal, but we fully realize that, because of our limited resources, we can’t do it all.  That is why establishing collaborations with a wide-variety of partners has been a priority of my tenure.

Some quick examples:

  • Through our New Market Exporter Initiative, we have joined with FedEx, UPS, DHL, the U.S. Postal Service and others to help companies already exporting in one market, expand into others.
  • We are working with the Brookings Institution on the Metropolitan Export Initiative, designed to help metro areas develop their own export plans that leverage the unique strengths that their local businesses offer.
  • We’ve signed a Memorandum of Intent with the American Association of Port Authorities, under which America’s seaports are helping more businesses learn how to reach overseas customers.

This issue of International Trade Update will give you insight into additional efforts.

You’ll learn how we are supporting medical manufacturers in Buffalo, helping American businesses gain access to financing, and so much more.

In addition to this work, recent weeks have been busy for me personally.  Some highlights: I led 66 U.S. colleges and universities on an historic trade mission to Brazil.  I gave a speech at the U.S. Chamber of Commerce, focused on meeting the promise of permanent normal trade relations with Russia.  And I met with the American Chamber of Commerce in Shanghai to discuss ways we can give America’s small-and medium-sized enterprises more opportunities in the Chinese market.

And through it all, I’ve been focused on our core mission: representing the interests of American businesses in the international marketplace.

And I look forward to partnering with you to give even more businesses new opportunities to sell their products in new markets.

Posted in Competitiveness, Exporting, Finance, International Trade Administration, International Trade Update, Manufacturing and Services, Trade Shows and Trade Events | Leave a Comment »

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