US Commerce Department celebrates world trade week

Wednesday, 19 May 2010 02:32:29 (GMT+2)

Exports are an integral part of the US economy. With 95 percent of the world's potential consumers living outside the United States, there are vast opportunities for American companies to expand their businesses. In 2009, exports accounted for 11 percent of the nation's gross domestic product, and supported nearly 10 million American jobs. For every $1 billion in exports, 6,250 manufacturing jobs are created or supported.

"This administration is focused on helping American businesses take advantage of the worldwide recovery underway, ramping up trade advocacy on all fronts - from providing credit to small businesses that want to export to increasing the number of trade experts who will help US companies find buyers abroad to the continued rigorous enforcement of our trade laws," said Francisco Sánchez, Under Secretary of Commerce for International Trade.

Through the National Export Initiative - a top priority for the Obama administration - expanding exports of manufactured goods and services will strengthen the nation's economic recovery.

ITA plays an important role in this effort. US businesses of all sizes can benefit from ITA programs and services that identify opportunities for exporting in the global economy. ITA's trade specialists are posted in 128 US embassies and consulates, in 109 US cities in 77 countries and are focused on assisting both new-to-exporting and new-to-market companies succeed.

World Trade Week was founded by Stanley T. Olafson, then-manager of the World Trade Department of the Los Angeles Area Chamber of Commerce, in 1927.

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