For Immediate Release: May 17, 2010
Contact: Mary Trupo (202) 482-3809
Commerce Department Celebrates World Trade Week
WASHINGTON – The U.S. Department of Commerce’s International Trade Administration (ITA) recognizes World Trade Week, proclaimed by President Obama to be May 16-22, in order to spotlight exports and their promise to strengthen the economy and create jobs.
Exports are an integral part of the U.S. 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 and support American jobs. 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 U.S. 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 and create well-paying jobs for Americans.
ITA plays an important role in this effort. U.S. 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 U.S. embassies and consulates, in 109 U.S. 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.
To learn more about World Trade Week, the National Export Initiative, and how exporting supports U.S. jobs, visit www.trade.gov/worldtrademonth.
International Trade Administration
The International Trade Administration (ITA) is the premier resource for American companies competing in the global marketplace. ITA has 2,100 employees assisting U.S. exporters in more than 100 U.S. cities and 77 countries worldwide. For more information on ITA visit www.trade.gov.
The International Trade Administration, U.S. Department of Commerce, manages this global trade site to provide access to ITA information on promoting trade and investment, strengthening the competitiveness of U.S. industry, and ensuring fair trade and compliance with trade laws and agreements. External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein. This site contains PDF documents. A PDF reader is available from Adobe Systems Incorporated.