Export Assistance Available via the National Export Initiative
The goal of the ambitious and very promising National Export Initiative (NEI) is to double U.S. exports in five years through direct support to small and medium-size businesses. The NEI represents the first time the U.S. has a governmentwide export-promotion strategy with direct attention from the president and his Cabinet. The NEI is focused on three key areas:
- Expanding trade advocacy in all its forms, especially for small and medium-size enterprises. This includes educating U.S. companies about opportunities overseas, directly connecting them with new customers and advocating more forcefully for their interests.
- Improving access to credit with a focus on small and medium-size businesses that want to export.
- Continuing the rigorous enforcement of international trade laws to help remove barriers that prevent U.S. companies from getting free and fair access to foreign markets.
Progress is already being made
According to Tradeology, the official blog of the International Trade Administration, “the cooperation between FedEx and U.S. Commercial Service is a prime example of the nuts-and-bolts work the Department of Commerce is doing to make President Obama’s National Export Initiative a success."
And during the last three months alone, the Export-Import Bank of the U.S. — which provides critical financing when private banks are unwilling or unable to do so — has authorized $1 billion in small-business financings and added 112 new small-business clients — many of whom were first-time export shippers.
"Increasing the export of American products and services to global markets can help revive the fortunes of U.S. companies, spur future economic growth and support jobs here at home. This initiative will correct an economic blind spot that has allowed other countries to chip away at our international competitiveness."
~ Commerce Secretary Gary Locke