U.S. Secretary of Commerce Penny Pritzker today unveiled a new Department of Commerce-led effort designed to help more American companies “Look South” as they work to increase their exports and grow their businesses. The Look South Initiative is specifically focused on increasing U.S. trade with the 11 Latin American economies with whom the United States has free trade agreements.
Secretary Pritzker announced the "Look South" initiative during remarks at the World Affairs Council in Los Angeles.
The Look South effort is part of Commerce’s “Open for Business Agenda” and supports the President’s National Export Initiative by encouraging more U.S. businesses to export to more markets. More than half of all America’s free trade agreements are in Latin America. These 11 economies include Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, and Peru. Tariffs are low, if they exist at all, which makes these markets fertile ground for more U.S. exports. And, many of these countries are adopting good trade practices and standards in a variety of areas.
Federal agencies will continue to encourage U.S. companies – with a focus on small and medium-sized businesses – to export to the region through enhanced trade promotion events including trade missions and trade shows. The Look South web portal, www.export.gov/LookSouth, features updated market research and information on commercial opportunities, expanded awareness of trade financing tools, and targeted public and private sector partnerships.
Major events following this announcement include Secretary Pritzker’s trade mission to Mexico in February, and Trade Winds – The Americas , a Commerce-led trade mission in May for hundreds of U.S. businesses with stops in multiple countries.
Learn more about Look South here.
Source: U.S. Department of Commerce
