For Immediate Release: July 22, 2010
Contact: Cory Churches (202) 482-3809
Commerce Department Official Promotes U.S. Aerospace Industry at International Air Show in Support of National Export INitiative
President Obama’s initiative aims to double U.S. exports in five years, support more than two million new jobs in America
FARNBOROUGH, England – In support of the President’s National Export Initiative (NEI), U.S. Commerce Assistant Secretary for Manufacturing and Services Nicole Y. Lamb-Hale showcased the advantages of U.S. aerospace products, technologies, and services to potential international buyers at the Farnborough International Air Show this week. She also held bilateral meetings with government officials from Jordan, the UAE and India to discuss cooperation in the aerospace sector.
Wednesday, Lamb-Hale co-chaired a meeting of the U.S.-India High Technology Cooperation Group Civil Aviation Subcommittee with Madhavan Nambiar, Secretary of the Indian Ministry of Civil Aviation. The group agreed to form an Airport Infrastructure Working Group to encourage greater U.S. business participation in the modernization of India’s airport infrastructure.
As part of the NEI, the Commerce Department’s International Trade Administration recently launched the Growth in Emerging Metropolitan Sectors (GEMS) initiative. GEMS will initially focus on India and the tremendous growth opportunities in its emerging metropolitan markets. These markets will provide an opportunity for U.S. companies to sell more of their goods and services and for India to grow its economy.
“Emerging economies, like India, are priority markets for the United States,” said Lamb-Hale. The planned development of India’s airport infrastructure beyond its major cities will be an important focus of the GEMS program, and will facilitate U.S. sales and investment in this $20 billion market.”
In 2009, U.S. exports of civil aircraft, engines, and parts to India exceeded $2.1 billion. The U.S. aerospace industry is one of the most globally competitive sectors, accounting for the largest trade surplus of U.S. manufacturing industries.
The Farnborough International Air Show is the world’s second largest exposition of aerospace products and services. More than 1,400 exhibitors participated at Farnborough, including more than 240 U.S. firms. The biannual event draws attendees from more than 40 countries, and accounted for more than $88.7 billion in sales at the 2008 show.
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