Secretaries John Kerry & Penny Pritzker gear up for the Strategic and Commerical Dialog
Achievements for the History of Trade
M. Selig is the Under Secretary of Commerce for International Trade.
The word momentous is often misused, but when we look
back at what we accomplished to advance our country's trade and
investment agenda in recent weeks, momentous is clearly the right
After several years and several rounds of complex
negotiations, yesterday Trade Ministers agreed to a Trans-Pacific
Partnership agreement. TPP is a game-changing opportunity as it
will grant U.S. firms increased market access to countries that
represent almost 40% of global GDP. It will also ensure market access
to the part of the world where the majority of global middle class
consumers will be located and the majority of global economic growth
will take place. Besides representing a victory for American commerce
and American workers, TPP also represents a win for ITA, as our trade
and investment experts played a critical role in the TPP negotiations.
ITA also just completed the launch of our inaugural U.S.-India Strategic and
Commercial Dialogue, which will serve as the signature,
annual dialogue between our two countries. The talks centered on four
work-streams: building tomorrow's smart cities in India and related
infrastructure; strengthening India's business climate; harmonizing
product standards; and developing best practices in innovation and
entrepreneurship. We also conducted the U.S.-India CEO forum, which
ensured that the insight of American and Indian business leaders
informed our work-streams. And in the long-term, the S&CD will
provide a roadmap for our two nations to achieve an ambitious goal:
increase annual two-way trade from $100 billion to $500 billion.
Under ITA leadership, we completed Trade Winds-Africa,
the largest trade mission to the African continent in
U.S. history. And the numbers alone tell the story: 7 days,
8 countries, and 108 companies and other stakeholders exploring trade and
investment opportunities in the second fastest growing region in the
world. When we look back at Trade Winds, it will clearly represent a
signature endeavor of our Doing Business in Africa campaign (DBIA), our
unprecedented all of government effort to deepen U.S. commercial engagement
Another DBIA campaign ITA recently launched was the U.S.-Africa Investor Roadshow.
Co-hosted with McKinsey & Company, the launch convened U.S.
investment firms and delegations from seven African nations, as well as
the African Union, including two African heads of state. The Roadshow
will serve as a platform for U.S. businesses and African officials to
exchange best practices and explore opportunities arising from capital
market development and infrastructure projects.
And, ITA is clearly looking ahead to momentous
accomplishments in 2016. We will be leading U.S. participation as the partner country for next year's Hannover
Messe trade show in Germany—the premier trade event for industrial
These remarkable achievements prove that ITA is doing
more than daring to be great. ITA is daring to help American businesses
compete and win in the global marketplace; act as the best voice for
American industry on the international stage; and work to create more
jobs, better wages, and greater opportunities for American
U.S. Secretary of Commerce Penny
Pritzker co-chaired the first-ever U.S.-India Strategic and Commerce
Dialogue (S&CD) this week, a brand new mechanism intended to
advance President Obama and Prime Minister Modi's shared vision of a
stronger, deeper economic partnership between our two countries.