U.S. Secretary of Commerce Penny Pritzker today joined President Obama to hear recommendations from the President’s Export Council (PEC) on policies that will increase U.S. economic growth through international commerce. The PEC also presented a report on its recent commercial diplomacy fact-finding mission to Poland and Turkey that Secretary Pritzker co-led with PEC Vice Chair and Xerox CEO Ursula Burns earlier this fall.
“The President’s Export Council is an example of an effective partnership between the government and the private sector that provides the President with valuable expertise and insight on the challenges facing U.S. companies doing business abroad,” said Secretary Pritzker. “In addition to what we can do as government officials, America’s business leaders have an important role to play in strengthening our commercial ties globally and improving the business climate abroad. We call this commercial diplomacy. Together, we are working to open more overseas markets to U.S. firms so they can sell more ‘Made-in-America’ goods and services to the 95 percent of consumers who live outside our borders, which leads to job creation and economic growth at home.” The Council issued its Mid-Term Report that highlighted a number of substantive recommendations in the following areas: * Global Competitiveness ** The Council prioritizes trade policy and encourages prompt completion of Trade Promotion Authority, the Trans-Pacific Partnership, the Transatlantic Trade and Investment Partnership, the Trade in Services Agreement, and the U.S.-China Bilateral Investment Treaty.
* Manufacturing, Services, and Agriculture ** Upgrading the nation’s aging infrastructure network would expand long-term productive capacity and reduce the all-in cost of U.S. goods and services, making American products more competitive globally.
** The Administration should continue efforts to encourage and facilitate travel to the United States by international travelers.
* Small and Medium-Sized Business Engagement ** Federal trade tools, promotion programs, and resources, including access to capital, should be catered to the unique needs of small-and-medium sized enterprises.
* Export Promotion and Advocacy ** The Council also strongly recommends a multi-year reauthorization of the Export-Import Bank, implementation of the Trade Facilitation Agreement, and progress on initiatives aimed at enhancing North American competitiveness.
* Workforce Readiness ** Bolder steps must be taken to meet the Administration’s own goal of increasing the number of STEM graduates by one million in 2022.
* Export Administration ** The Council encourages additional efforts to strengthen and streamline further controlled trade with our allies and partners.
The PEC embodies a public-private model for driving policies to facilitate and promote long-term economic growth, welfare, and development. As America’s chief commercial advocate, Secretary Pritzker co-led a delegation of seven CEOs from Council member companies with Council Vice Chair Ursula Burns on a fact-finding mission to Poland and Turkey. The delegation, which included other senior Obama administration officials, met with public and private sector representatives in both countries to explore opportunities to expand bilateral commercial ties with these important trading partners.
In its trip report , the Council emphasized the importance of commercial diplomacy and that dialogue and cooperation between industry and government are keys to achieving the mutually reinforcing objectives of stronger partnerships, enhanced trade relationships, and increased U.S. exports. The report also noted four key themes to focus on for future engagement with each country: * Innovation and Entrepreneurship – undertake efforts to promote the development of innovative and entrepreneurial cultures in Poland and Turkey * Information Sharing – increase information sharing between business and governments of both countries * Governance – strengthen the rule of law where applicable, increase regulatory transparency, and reduce bottlenecks to trade in goods and services * Energy Sector Development – support efforts to diversify energy sources in Poland and Turkey The PEC serves as the principal national advisory committee on international trade. The Council advises the President of government policies and programs that affect U.S. trade performance; promotes export expansion; and provides a forum for discussing and resolving trade-related problems among the business, industrial, agricultural, labor, and government sectors.
Source: U.S. Department of Commerce
