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(July 30, 2018) - - Following Secretary of Commerce Wilbur Ross’s participation in the Indo-Pacific Business Forum today, the Department of Commerce is announcing its plan to dedicate three of its upcoming flagship events to Indo-Pacific themes:
- Discover Global Markets (DGM): Indo-Pacific – will take place in Salt Lake City, Utah, December 10-12, 2018 and will highlight opportunities for U.S. exporters in Asia. It will kick-off recruitment for the Trade Winds: India.
- Trade Winds: India – will take place in New Delhi in the spring of 2019. It will be a conference and trade mission to India and other surrounding countries where U.S. exporters will meet with decisionmakers on opportunities they have learned about at DGM and Access Asia events.
- Trade Winds: Hong Kong – intended to take place in Hong Kong in the spring of 2020. It would bring U.S. exporters back to Asia to close deals and explore more opportunities.
Secretary Ross also announced that India’s status as a Major Defense Partner will allow it to receive more U.S. high technology and military items without individual export licenses. India will be moved into Tier 1 of the Department of Commerce’s Strategic Trade Authorization (STA) license exception. STA Tier 1 treatment, comparable to NATO allies, will expand the scope of exports subject to the Export Administration Regulations (EAR) that can be made to India without individual licenses. This regulatory change will enhance the bilateral defense trade relationship and result in a greater volume of U.S. exports to India. Over the last seven years, approximately $9.7 billion worth of licensed exports to India may now eligible for export under this license exception.
“India’s status as a Major Defense Partner led to its becoming a Strategic Trade Authorization (STA) Tier 1 country, comparable to our NATO allies, under the Department of Commerce’s Export Administration Regulations,” said Secretary Ross. “This reflects India’s membership in three of the four multilateral export control regimes, as well the development of its national export control system. U.S. companies will be able to more efficiently export a much wider range of products to Indian high technology and military customers. India’s new status will benefit U.S. manufacturers while continuing to protect our national security.”
The plans announced today represent a substantial dedication of the Department’s resources to the region and a prioritization by the Department of Commerce to direct U.S. trade and investment to Asia. Further details on these events and how to get involved will be forthcoming.
These events are part of the Department’s Access Asia program – a new export promotion framework to increase U.S. trade and investment in the Indo-Pacific region. Access Asia is a series of 25 trade promotion outreach events in cities across the U.S. that is sequential, multi-year, data and opportunity driven, and optimizes U.S. Government resources.
Sequential: Each event is an incremental effort feeding into the larger framework. The seven successful events that have already taken place – in Houston, San Francisco, San Diego, Portland, Pittsburgh, Fargo, and Oklahoma City – build up to the newly announced events.
Data-driven: Using its trade data, Commerce has identified U.S. cities and sectors (like energy, aviation/defense, information and communication technology, healthcare, and advanced manufacturing) with export growth potential.
Opportunity-driven: Commerce’s Foreign Officers attend each Access Asia event to highlight the specific, actionable opportunities in their markets.
Optimizes resources: Brings together the full suite of USG export tools and has already included participation from various agencies.
The Department has already reached over 200 U.S. companies under Access Asia. These companies are pursuing new opportunities and taking advantage of U.S. government resources available to them. There are upcoming Access Asia events in Dallas, Texas; Fort Worth, Texas; Phoenix, Arizona; Irvine, California; and Denver, Colorado.
For more information, contact your local Department of Commerce representative at https://www.export.gov/locations .
Courtesy: U.S. Department of Commerce
