NEW BILLS SEEK TO IMPROVE EXPORT PROMOTION EFFORTS

Global Trade Magazine

Thre pieces of new legislation has been introduced in Congress aimed at better coordinating the federal government's export promiton programs. Credit. leatherdown.com

Three pieces of new legislation has been introduced in Congress aimed at better coordinating the federal government’s export promition programs. Credit. leatherdown.com

Three bills have been introduced in Congress that would enhance several federal programs aimed at promoting US-based small- and medium -sized businesses (SMEs) abroad.

The legislation – introduced last week by Rep. Sam Graves (R-MO), chair of the House Small Business Committee – seeks to improve “the coordination of federal trade promotion agencies.”

That would include “doing a better job of publishing up-to-date listings of foreign trade missions, tariff laws, and modifications in foreign regulations” and “integrating the states’ efforts at foreign trade promotion” into existing federal programs.

“Although 95 percent of the world’s market for products exists outside the US, many small firms do not have the resources and personnel to take advantage of these opportunities,” Graves said in a statement.

However, despite an improved environment for lending to SMEs, improved access to working capital remains a key factor in the success of small businesses wanting to expand into the global marketplace.

A survey released last month by the US Small Business Administration’s Office of Advocacy found that small business exporters “were especially dependent on working-capital loans because of the longer transportation times required when shipping goods abroad and the risk in foreign sales. “

The US Export-Import Bank (EXIM) manages an initiative to assist SME’s with expedited export financing and loan guarantees, but the agency has come under threat recently as it could be forced to stop operations in two months unless the Senate approves the nomination of Fred Hochberg as president of the government-operated bank for another two years.

“If we do not again confirm Mr. Hochberg before July 20, we run the risk of leaving the bank without a quorum to act on many of the transactions before it, which will hurt American workers and exporters,” said Senate Banking Committee Chairman Tim Johnson (D-SD).

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About Alexander Gordin
An international merchant banking professional with over twenty years of business operating and advisory experience in the areas of export finance, international project finance, risk mitigation and cross-border business development. Clients include foreign governments, municipalities and state enterprises as well as Fortune 500 and small/medium enterprises. Strong entrepreneurial instincts, combined with leadership and strategic skills. Transactional and negotiations experience in over thirty five countries. Author of the highly acclaimed "Fluent in Foreign Business" book and creator of the "Fluent in OPIC", "Fluent in EXIM","Fluent In Foreign Franchising", "Fluent in FCPA",and "Fluent in USTDA" seminar/webinar series. Currently developing "Fluent In ......" seminars and publications. Co-author of the Fi3 Country Business Appeal Indices. Extensive international business development and project finance transaction experience in healthcare, aerospace, ICT, conventional and alternative energy infrastructure, distribution and hospitality industries. Experience managing international public and private corporations. Co-Founded three companies abroad. Strong Emerging and Frontier Market expertise. Published and featured in numerous publications including: The Wall Street Journal, Knowledge@Wharton, NBC.com, The Chicago Tribune, Industry Week, Industry Today, Business Finance, Wharton Magazine Blog, NY Enterprise Report, Success magazine, Kyiv Post and on a number of radio and television programs including: Voice of America, CNBC, CNNfn, and Bloomberg. Frequent speaker on strategy, cross-border finance and international business development. Executive MBA from the Wharton School at the University of Pennsylvania. B.S. in Management of Information Systems from the Polytechnic Institute of NYU. Specialties Strategic Management Advisory, Export Finance, International Project Finance & Risk Management, Cross-border Negotiations, Structured Finance transactions, Senior Government and Corporate officials liason

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