The National Export Initiative (NEI) is aimed at improving the private sector's ability to export, and to help meet President Obama’s goal of doubling exports over the next five years.
“Creating jobs in the United States and ensuring a return to sustainable economic growth is the top priority,” President Obama said in a statement.
“A critical component of stimulating economic growth is ensuring that US businesses can actively participate in international markets by increasing their exports of goods, services, and agricultural products. Improved export performance will, in turn, create good high-paying jobs.”
An Export Promotion Cabinet, which includes the secretaries of state, treasury, agriculture, commerce and labour has been established to co-ordinate and implement the NEI.
The goals of the NEI include:
- Enhance export assistance to SMEs, including programs that improve information and other technical assistance to first-time exporters
- Increase the availability of export credit to SMEs
- Develop a framework for promoting services trade, including the necessary policy and export promotion tools
- Promote federal resources currently available to assist exports by US companies
“The NEI will help meet my Administration's goal of doubling exports over the next five years by working to remove trade barriers abroad, by helping firms, especially small businesses, overcome the hurdles to entering new export markets, by assisting with financing, and in general by pursuing a Government-wide approach to export advocacy abroad,” President Obama said.
Source: The White House Press Office
