Federal government links up with shipping firms to boost US exports
The federal government is working with FedEx, UPS and the US Postal Service in an attempt to significantly increase US exports.
US Commerce secretary Gary Locke toured the FedEx Super Hub in Memphis to discuss efforts to double exports in five years.
As part of President Obama’s National Export Initiative, attempts are being made to encourage small and medium-size businesses in America to consider exporting their products.
Only one percent of US companies are involved in exports at the moment, and of those 58% export only to one country – usually Mexico or Canada.
After seeing the FedEx operations for himself, secretary Locke said: “FedEx has it down to a science – but the company, like its competitors, could use a little more work.”
Secretary Locke said even encouraging existing exporters to target markets in more than one country could see US exports growing “substantially”.
He said: “Through expanded partnerships with FedEx, UPS and the Postal Service, we’re working to connect businesses that already export to trade specialists who can help them sell what they make to additional markets overseas.”
The commerce secretary claimed that the Obama Administration has already started seeing results from its new government-wide export strategy, with an 18% increase in US exports this year.
The federal government believes 2m jobs can be created by boosting US exports.
During his visit to the FedEx Hub in Memphis, accompanied by US Trade Representative Ron Kirk, secretary Locke saw operations at peak hours, with millions of packages moving over hundreds of miles of conveyor belts.
The shipping company said the government officials saw how FedEx could help small and medium-sized businesses reach new markets and new consumers in more than 220 countries and territories that it serves.
FedEx said it is working closely with the Commerce Department’s Commercial Service to help its customers access new opportunities in new markets around the world.
At an international level, FedEx is acting as co-chair for a coalition of trade representatives from the US, Australia, Brunei, Chile, Peru, New Zealand, Singapore and Vietnam, which is seeking to bring down key trade barriers in the Asia-Pacific region.
FedEx Express chief operating officer Michael L Ducker was appointed to the President’s trade policy advisory committee last month.
FedEx said Mr Ducker will work closely with the other members of the committee and US trade representatives to advance a “strong trade agenda” to help open new markets for the company and its customers.
In a statement, the company said its efforts to support trade promotion would help strengthen the economic recovery. It stated: “FedEx will continue to champion the benefits of opening markets and growing international trade and investment for our business, our customers, and the communities around the world FedEx serves.”
