WASHINGTON, D.C. - The U.S. Senate Committee on Commerce, Science, and Transportation held a subcommittee hearing today on A World of Opportunity: Promoting Export Success for Small and Medium-Sized Businesses.

 

 

Ms. Rochelle Lipsitz, Acting Assistant Secretary for Trade Promotion and Director General of the United States Foreign Commercial Service, U.S. Department of Commerce

 

Ms. Alice Albright, Executive Vice President and Chief Operating Officer, Export-Import Bank of the United States

 

Ms. Liz J. Reilly, Director of TradeRoots, U.S. Chamber of Commerce

 

Mr. Tom J. Wollin, Director of International and Government Sales, Mattracks, Inc.

 

Mr. Brad Pierce, President, Restaurant Equipment World

 

 

“America has always reached out around the globe, through its exports.  However, small and medium-sized businesses in particular have not taken full advantage of potential markets abroad. But that can and should change.  As our economy continues to struggle, overseas markets for American exports represent a tremendous opportunity to spur growth here at home.  Firms that engage in overseas trade tend to have higher rates of productivity growth and pay higher wages to their workers.  By leveraging U.S. competitiveness and tapping new markets, we can narrow our trade deficit and create quality jobs.”

“Exporting is literally a world of opportunity.  Over 95 percent of the world’s customers are located outside the United States.  Increasing our exports will mean more business, more jobs and more growth for the American economy.”

“The Commercial Service’s vision is for every U.S. business to see the world as its marketplace.  Our primary mission is to promote U.S. exports, particularly by small and medium-sized enterprises, and advance U.S. commercial interests abroad.  We strengthen American competitiveness, increase job creation and global prosperity, and through trade we advance U.S. national security and build bridges to international cooperation.”

“We stand ready to work with you to help finance exports from businesses in your states.  And while there is still, obviously, much more to be done, we know how to do it and what the goal is – to increase U.S. exports – thus increasing U.S. jobs.”

“Investing in the export potential of America’s small and medium-sized businesses could bring dramatic gains and stimulate the economy.  Showing how smaller companies can gain from trade would also help build political support for international trade.  By adding to the ranks of small businesses that see direct benefit in exporting, Americans will be able to see more clearly the possibilities offered by worldwide trade.”

 

“There are roadblocks for U.S. companies, big and small, when they export products internationally.  Tariffs, duties, and value-added taxes can make the costs of U.S. products extremely prohibitive.  For example, an American product that has a dealer cost of $35,000 when it leaves our shores can have a final cost reaching $60,000 to $70,000 when it reached its destination! U.S. innovation and product quality can overcome many obstacles, but a doubling in price can be crippling.  The removal of these types of trade barriers are also needed to ensure new and continued sales growth internationally.”

“While we’ve been successful in exporting through the trials and tribulations of doing it ourselves, many other small businesses haven’t been so fortunate and in many cases don’t even know where to begin.  To change this tide, I would like to see the U.S. government take a more proactive role in regards of exporting.  In this troubled economy I see how much our business has been aided by exports, to not only survive, but to grow as a business.  I would certainly like to see other companies benefit in this same manner.”

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