Wednesday, September 22, 2010

Administration Receives Recommendations on How to Double Exports in Five Years

(World Trade Interactive)

The Export Promotion Cabinet, a group consisting of the heads of various federal departments and agencies with trade functions, provided to President Obama Sept. 16 a report with recommendations on how the U.S. can double its exports within five years, as called for by the president’s National Export Initiative. The report states that this is an ambitious goal that “will only happen if U.S. companies, farmers and small and medium-sized enterprises – the engines of economic growth – receive the encouragement and support they need as they seek new markets for their goods and services.”

The report identifies a number of steps that have already been taken, such as organizing more trade missions to and from the U.S. and increasing loan approvals that support export shipments, but focuses on the following recommendations for future action. Read more here.