In today’s global economy, it is critical for American businesses to be able to sell their goods and services to customers overseas. Senator Coons has been working to ensure Delaware businesses have access to the more than 95 percent of the world’s consumers who live outside the United States.
At his first Opportunity: Africa conference held this year in Wilmington, Senator Coons worked to connect Delawareans with some of the nation’s leading authorities on sustainable development and trade with Africa to help open new markets for Delaware businesses.
President Obama’s budget proposal contains several important programs that can help meet that goal. For example:
- Export promotion. The budget provides an increase of $19 million, for a total of $432 million, to strengthen efforts at five international trade-related agencies to promote and enforce international trade, and meet the goals of the National Export Initiative. The funding will be divided among the Export-Import Bank, the U.S. Trade and Development Agency, the office of the U.S. Trade Representative, the U.S. International Trade Commission and the Overseas Private Investment Corporation.
- Economic Diplomacy. Included in the State Department budget is funds for economic diplomacy and export promotion with the goal of increasing the number of “market-oriented economic and commercial policy activities and accomplishments” by 15 percent by September 2013.