Commerce Dept & FedEx Launch New Initiative to Expand Exports
At the Asia-Pacific Economic Cooperation (APEC) meeting on November 10, 2011, U.S. Commerce Secretary Bryson and the executive Vice President of FedEx announced the Global Buyers Initiative (GBI), which is designed to help U.S. small- and medium-sized businesses reach more markets and sell more products and service overseas. FedEx, which will pilot the program, will seek out experienced overseas importers in National Export Initiative (NEI)-focused markets and sectors that have traditionally not sourced products or services primarily from U.S. businesses and Commerce will connect them to U.S. suppliers.
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The GBI pilot will be launched in Canada, France and Korea this year followed by Australia, Colombia, Japan, Mexico, Panama and Singapore, with several additional markets targeted soon thereafter.
FedEx, UPS, and USPS also Involved in New Market Exporter Initiative
FedEx, along with UPS, the U.S. Postal Service and the National Association of Manufacturers, is already an important partner in the Department’s New Market Exporter Initiative, which has identified more than 1,400 small- and medium-sized U.S. companies that already export to one foreign country but are looking to expand into additional markets and introduced them to Commerce Department resources to help.
(Bryson made the announcement during remarks to leaders from more than 200 small businesses during the Asia Pacific Economic Cooperation Small and Medium Enterprise symposium. The new effort builds upon President Obama’s National Export Initiative (NEI) and its goal of doubling U.S. exports by the end of 2014.)
(See ITT's Online Archives 10120728 for summary of Commerce Dept's announcement of the New Market Exporter Initiative partnership with FedEx and NAM. See ITT's Online Archives 10022230 for summary of United Parcel Service (UPS) and Commerce Dept partnership to boost SME (small and medium-sized enterprise (SMEs).)