For Immediate Release: January 12, 2012
Contact: Mary Trupo (202) 482-3809
Under Secretary for International Trade Francisco SÁnchez Says Expanding U.S. Manufacturing Exports is Key to Economic Growth
WASHINGTON –Under Secretary of Commerce for International Trade Francisco Sánchez today outlined steps the Obama administration is taking to boost the U.S. manufacturing sector, support jobs, and increase exports of products stamped with the words: “Made in America” during remarks at a National Association of Manufacturers’ (NAM) Council of Manufacturing Associations luncheon.
“Bolstering the U.S. manufacturing sector is a top priority for President Obama,” Sánchez said. “The U.S. economy has added 334,000 manufacturing jobs since December 2009, and third quarter 2011 manufacturing profits increased more than seven percent. We’re happy that the road to economic recovery continues to widen, and we want more Americans to move forward with new jobs and new hope.”
A joint partnership among the U.S. Department of Commerce’s International Trade Administration (ITA), NAM, and FedEx – the New Market Exporter Initiative – is assisting U.S. manufacturers in locating potential distributors, sales representatives and buyers with greater ease and efficiency.
“ITA is committed to supporting businesses of all sizes reach new markets and new customers,” Sánchez said. “NAM has been such a strong partner and supporter of ITA’s work especially as it relates to President Obama’s National Export Initiative and his goal of doubling U.S. exports by the end of 2014.”
Sánchez noted that in 2010, exports supported 9 million jobs in the United States, and that 60 percent of those exports came from manufacturing. “The correlation between manufacturing and people working in good-paying jobs is clear,” he added.
“Our New Market Exporter Initiative is designed to get American businesses not yet exporting to start — today – and to help companies already exporting to expand to more markets,” Sánchez said. “With just one percent of U.S. businesses exporting and 58 percent of those companies exporting to just one market, there is great potential to do more.”
The full text of Under Secretary Sánchez’s remarks is located at http://trade.gov/press/speeches/2012/sanchez-011212.asp
International Trade Administration
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