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Klobuchar: Export Promotion is Great Opportunity for Small Businesses, American Economy

Klobuchar, Chairman of the Subcommittee that oversees export promotion, focuses on ways to boost U.S. products abroad

October 6, 2009

Washington, D.C. – U.S. Senator Amy Klobuchar, Chairman of the Commerce Committee’s Subcommittee on Competitiveness, Innovation and Export Promotion, held a hearing today that focused on the federal government’s efforts to promote U.S. products overseas.  At the hearing, Klobuchar, heard from government and small business leaders, and explored how the government’s export promotion resources have helped many small businesses boost their bottom lines by selling their products overseas.

“Exporting is literally a world of opportunity,” said Klobuchar.  “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.” 

Senator Klobuchar heard from several businesses, including an international sales representative from a Minnesota company as well as officials from the Export-Import Bank and the U.S. Department of Commerce.

Tom J. Wollin from Mattracks, Inc. in Karlstad, Minnesota, testified about the importance of Commerce Department programs that help American companies compete globally.  Wollin specifically cited the Commerce Department’s Commercial Service program, which helped Mattracks enter foreign markets and increase their sales.  Today, Mattracks sells their products in over 50 countries and half of their business is comprised of international sales.

U.S. exports currently support more than six million jobs in manufacturing and one million jobs in agriculture.  Businesses that export pay employees 13 to 18 percent more and are 8.5 percent more likely to stay in business than companies that do not export.  However, less than one percent of U.S. businesses take advantage of exporting and of those that do export, 60 percent limit themselves to only one foreign country.  Recently, 30 percent of U.S. businesses indicated that they would be interested in exporting, but did not know where to begin.

“Given the importance of exports to our national economy, both today and in the future, we need to make sure we’re doing all that we can to promote American businesses in foreign markets, especially small businesses,” said Klobuchar

Rochelle Lipsitz, Acting Assistant Secretary for Trade Promotion and Director General of the United States and Foreign Commercial at the U.S. Department of Commerce and Alice Albright, Senior Vice President and Chief Operating Officer at the U.S. Export-Import Bank highlighted several programs that their organizations offer for businesses looking to export.

The U.S. Department of Commerce, for example, assists them with market research, developing overseas advertising, and helping locate foreign buyers, distributors and business partners. 

The U.S. Export-Import Bank provides loan guarantees, working capital guarantees, and insurance to commercial banks so that they can make credit available to U.S. exporters who would not ordinarily receive private financing.

Many other countries spend more on export promotion than the U.S., including Spain, the United Kingdom, Italy, France, Korea, Canada and Japan.

“Small businesses are the backbone of our economy and helping them export their products will be increasingly important,” said Klobuchar.  “As China, India and other developing countries gain more purchasing power, they will become our potential customers.”


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