America.gov-Business & Trade

End Distractions and Take Serious Steps, Obama Tells North Korea

Stephen Kaufman — Thu, 19 Nov 2009 13:32:03 -0500

President Obama says North Korea can have economic sanctions reduced and enjoy greater integration with the international community, but it must take concrete action on ending its development of nuclear weapons. Obama also urges Iran to accept a proposal from the International Atomic Energy Agency.

Economic Recovery Depends on Rebalancing Global Demand

Merle David Kellerhals Jr. — Wed, 18 Nov 2009 13:02:58 -0500

To establish a global foundation for growth and avert future economic crises, Treasury Secretary Timothy Geithner says, the major advanced economies must rebalance global demand. Geithner says cooperation through the Group of 20 will remain essential.

Ambassador Talks About Partnership with Private Sector

Douglas Schuette — Tue, 17 Nov 2009 10:41:44 -0500

Strategic partnerships involving governments and the private sector are the key to prosperity in today’s “more globalized, more dangerous” world, says Ambassador Elizabeth Bagley, appointed in June as the first Special Representative for the U.S. Department of State’s Global Partnership Initiative.

APEC Leaders Agree on Sustainable Growth Strategies

Merle David Kellerhals Jr. — Sun, 15 Nov 2009 13:00:42 -0500

President Obama says quick, coordinated, unprecedented actions by many of the leaders in the Asia-Pacific Economic Cooperation forum helped pull the global economy back from the brink of a deeper recession, but now is the time to begin putting balanced economic growth strategies in place.

Acid Rain’s “Cap and Trade” Is Potential Model for Climate Fixes

Andrzej Zwaniecki — Fri, 13 Nov 2009 17:26:24 -0500

Even proponents of the first U.S. cap-and-trade program for hazardous emissions— a program to control acid rain — did not expect it to be such a clear-cut success. Is it time to extend the system to emission of other pollutants?

Unleashing the Entrepreneurial Energy of the Young

Andrzej Zwaniecki — Fri, 13 Nov 2009 16:23:38 -0500

Global Entrepreneurship Week, November 16–22, encourages young people around the world to think of entrepreneurship and innovation as exciting ways of achieving their goals. Organizers hope to demonstrate to policymakers the potential benefits of unleashing entrepreneurial energy.

Obama Seeks to Deepen U.S.-East Asia Engagement

Merle David Kellerhals Jr. — Tue, 10 Nov 2009 14:58:59 -0500

President Obama wants to make it clear to East Asian leaders during his four-nation trip November 12–19 that the United States is a Pacific nation and it intends to deepen its engagement in the Asia-Pacific region, White House advisers say.

United States Unveils Plans for Pavilion at Shanghai Expo

Stephen Kaufman — Tue, 10 Nov 2009 11:13:06 -0500

Secretary Clinton will visit the site of the U.S. pavilion at the upcoming Shanghai Expo 2010 on November 16. The pavilion will showcase the Chinese-American experience, as well as how 21st-century technology is being used to promote greater environmental sustainability.

African Migrants Invest in Their Home Countries

Phillip Kurata — Mon, 09 Nov 2009 14:06:30 -0500

Investment in their home countries by migrants from Africa is contributing to economic growth on the continent. This development has caught the attention of African governments, development agencies and the world’s largest cash-transfer company, which are working to facilitate such investment.

Diasporas Contribute to Prosperity in Homelands of Those Who Left

Phillip Kurata — Fri, 06 Nov 2009 17:46:03 -0500

People who have left their countries to seek better livelihoods abroad increasingly invest in their homelands, creating prosperity. These so-called diaspora investors may be more likely than other investors to keep money in a particular country rather than repatriate the profits, a researcher says.

Asia-Pacific Region Seen as “Key Driver” of Global Economy

Bridget Hunter — Fri, 06 Nov 2009 17:03:38 -0500

In advance of the Asia-Pacific Economic Cooperation summit in Singapore, U.S. Trade Representative Ron Kirk underscores the importance of U.S. relationships with trading partners in the region. He also reiterates the Obama administration’s support for the pending free-trade pact with South Korea.

Economic Recovery, Resisting Trade Protectionism Top APEC Agenda

Merle David Kellerhals Jr. — Wed, 04 Nov 2009 15:05:43 -0500

Enhancing global economic recovery and resisting trade protectionism will be significant themes at the Asia-Pacific Economic Cooperation forum in Singapore, says a senior U.S. diplomat. President Obama will be making his first trip to East Asia since taking office to attend APEC.

Latin American Women Entrepreneurs Get Business Development Help

Sharon Carper — Mon, 02 Nov 2009 14:57:53 -0500

An October State Department-sponsored conference in Washington to help entrepreneurs from the Western Hemisphere improve their business opportunities was unique. All the entrepreneurs were women. The conference was part of State’s Pathways to Prosperity in the Americas initiative.

Clinton Will Attend Forum for the Future in Morocco

Merle David Kellerhals Jr. — Wed, 28 Oct 2009 12:08:43 -0500

Secretary Clinton will attend the sixth Forum for the Future in November in Morocco. The forum is an important regional conference that brings together government officials from the Middle East and North Africa and the major advanced economies, as well as civil society and private sector leaders.

On the Anniversary of 1929 Crash, How Is It Different Now?

Katherine Lewis — Tue, 27 Oct 2009 11:11:27 -0500

On the 80th anniversary of the 1929 U.S. stock market crash that triggered the Great Depression, experts look at the similarities and differences between the modern equity market and the one that existed in the 1920s.

Cummins Inc. Powers Community Involvement in China

Erica Marrero — Mon, 19 Oct 2009 09:08:35 -0500

Diesel engine manufacturing company Cummins Inc. is selected as a finalist for the State Department’s 2009 Award for Corporate Excellence for its community engagement in China and for the company’s help after a earthquake struck China’s Sichuan province in May 2008.

By Starting a Bakery, then a Nonprofit, Kosovo Woman Helps Many

Michelle Austein Brooks — Mon, 19 Oct 2009 09:58:36 -0500

Through her nongovernmental organization NGO Lady, Sanija Murati helps women in Kosovo find jobs and start their own businesses. Murati, who started a small pastry shop that has now expanded into a bakery and café, says she tells women, “If I could do it … you could do it.”

World Trade Body Membership Tops U.S. Trade Agenda for Russia

Kathryn McConnell — Fri, 16 Oct 2009 13:54:57 -0500

Seeing Russia join the World Trade Organization tops the U.S. trade agenda for Russia, but Russia’s decision to make a joint bid for membership with Belarus and Kazakhstan has raised questions, says Betsy Hafner, director for Russia and Eurasia at the Office of the U.S. Trade Representative.

Clinton: China, Russia Trade Pacts Show Economic Interdependence

Merle David Kellerhals Jr. — Fri, 16 Oct 2009 11:36:16 -0500

Trade agreements recently announced between China and Russia, including a mammoth natural gas arrangement, illustrate a world of greater economic interdependence and interconnectedness, Secretary of State Hillary Rodham Clinton says in a recent Moscow interview.

Obama Pushes For Tougher Financial Regulation

Kent Klein — Thu, 15 Oct 2009 16:40:59 -0500

President Obama is urging Congress to approve his plan to create a new agency to protect Americans against financial abuses. The president wants to establish a Consumer Financial Protection Agency. Obama says Americans need a single consumer agency to protect them against irresponsible lenders.

U.S. Seeks Enhanced Trade with Asia-Pacific Forum Members

Merle David Kellerhals Jr. — Thu, 15 Oct 2009 14:23:52 -0500

The 20th anniversary meeting of the Asia-Pacific Economic Cooperation forum in Singapore in November represents the beginning of a two-year period in which the United States will seek to enhance economic and trade relations with the Asia-Pacific region, say senior U.S. officials.

China, Russia Sign Deals Worth Billions of Dollars

Stephanie Ho — Wed, 14 Oct 2009 12:23:17 -0500

China and Russia have signed billions of dollars worth of deals during Russian Prime Minister Vladimir Putin’s visit to Beijing. The trip is aimed at bolstering business, political and military ties.

Dragnet Draws Tighter in Global Fight Against Corruption

Chris Connell — Tue, 13 Oct 2009 10:31:03 -0500

Dozens of nations now forbid the bribery of foreign officials and are going after what once were safe havens for stolen assets. Recognition of the harm bribery and corruption cause has led to increased cooperation in investigating and prosecuting cases around the world.

Across Borders, Crime Fighters Cooperate to Recover Stolen Assets

Chris Connell — Tue, 13 Oct 2009 17:27:43 -0500

More institutions and people than ever track hidden proceeds from corruption and more countries get back money stolen from them. Adrian Fozzard, director of the World Bank’s Stolen Asset Recovery Initiative, says the problem of stolen assets concerns rich and poor countries alike.

USTR Kirk Says Services Trade Plan Essential to Trade Talks

Merle David Kellerhals Jr. — Tue, 13 Oct 2009 16:31:07 -0500

Creating new market opportunities for international services trade is essential to a successful conclusion of the 2001 Doha round of trade-liberalization talks by the end of 2010, U.S. Trade Representative Ron Kirk tells the Global Services Summit.

Two Americans Capture Nobel Economics Prize

Tom Rivers — Mon, 12 Oct 2009 11:59:52 -0500

Two Americans, Elinor Ostrom of Indiana University and Oliver Williamson of the University of California at Berkeley, share the 2009 Nobel Prize in Economics for their analysis of how authority is exercised in economic systems and in companies. Ostrom is the first woman to win the award.

U.S. Officials Announce New Food and Agriculture Research Agency

Kathryn McConnell — Fri, 09 Oct 2009 14:03:57 -0500

A new government agency will bring together government and private scientists to improve research in food and agriculture. They will build on recent scientific discoveries to improve food production, food safety, nutrition and the quality and quantity of biofuels.

Crucial Moment for U.N. Anti-Corruption Convention

Andrzej Zwaniecki — Wed, 07 Oct 2009 10:50:18 -0500

Failure by signatories of an international anti-corruption convention to agree soon on an effective implementation-review mechanism will damage the credibility of the pact, according to U.S. officials, businesses and nongovernmental groups. Signatories meet in Qatar in November to continue work.

IMF, World Bank Respond to Calls for Reform

Merle David Kellerhals Jr. — Wed, 07 Oct 2009 17:52:11 -0500

The annual meetings of the International Monetary Fund and World Bank ended in Istanbul amid calls for reform and reflection on the global economic crisis. IMF Managing Director Dominique Strauss-Kahn said continued cooperation can create the conditions necessary for a cycle of peace and prosperity.

Hispanic Women Entrepreneurs Gather in Washington

Sharon Carper — Tue, 06 Oct 2009 16:26:31 -0500

The Pathways to Prosperity in the Americas initiative is promoting women’s business connections. The Women’s Entrepreneurial Conference in Washington will link women to markets, finances, technology, and to other women experienced in trade.

IMF, World Bank Plan Way Forward for Global Economy

Merle David Kellerhals Jr. — Tue, 06 Oct 2009 15:02:25 -0500

The world cannot return to a pattern of uneven economic growth that relies on consumer-led spending in one economy and export-led growth in others, U.S. Treasury Secretary Timothy Geithner says. “We cannot be complacent. Conditions remain fragile.”

German Factory Brings Big Hopes to Serbian Town

Michelle Austein Brooks — Fri, 02 Oct 2009 16:42:00 -0500

Thanks to a good business strategy, the Serbian town of Prokuplje convinced a German car-parts company to open a local factory, bringing new jobs to a region with high unemployment. Since 2002, the town has received help from the United States Agency for International Development and its partners.

U.S. Has Worked to Help Africa Weather Global Financial Crisis

Charles W. Corey — Wed, 30 Sep 2009 09:51:24 -0500

The Obama administration recognizes the effect the global financial crisis has had on sub-Saharan Africa and has “responded with vigorous support,” says Deputy U.S. Treasury Secretary Neal Wolin. Now it appears Africa may be turning the corner in meeting challenges of the 21st century, he adds.

Serbian Foods Find International Markets

Michelle Austein Brooks — Wed, 30 Sep 2009 17:54:40 -0500

Biotrend Donato, a small, family-owned company, has built a business by making prepackaged salads, dressings and vegetable-based sauces for sale in Serbia. Now, the U.S. Agency for International Development is helping it and others market products internationally.

Online Advertising Targets Dynamic U.S. Hispanic Market

Eric Green — Tue, 29 Sep 2009 11:01:46 -0500

U.S. Hispanics’ use of the Internet and cell phones spurs companies to go online to advertise goods and services. Some successful advertisers say that, when reaching out to a population for which family ties are treasured, it is important to emphasize that technology helps people keep in touch.

United States and Angola Are Natural Business Partners

Charles W. Corey — Tue, 29 Sep 2009 17:16:42 -0500

Investors, entrepreneurs and business executives from the United States and Angola are “finding each other” and finding out that they are “natural partners in business,” U.S. Ambassador to Angola Dan Mozena tells America.gov.

U.S. Businesses Court Increasingly Affluent Hispanic Consumers

Katherine Lewis — Tue, 29 Sep 2009 13:32:28 -0500

Businesses are developing products and services aimed at Hispanic consumers, the largest minority group in the United States, as well as supporting causes important to the Hispanic community.

Vying for a Slice of One State’s Growing Hispanic Consumer Market

Andrzej Zwaniecki — Tue, 29 Sep 2009 10:14:20 -0500

Hispanics boost the U.S. economy, and increasingly American businesses try to tap into their growing buying power. “Even French restaurants have Mexican chefs,” says one researcher, referring to the contributions of Hispanics to the economy and their buying clout.

Low-Risk, High-Profit Opportunities Drive Up Cybercrime

Andrzej Zwaniecki — Mon, 28 Sep 2009 15:18:20 -0500

Without improved defenses, the cost of computer security breaches to the world economy could rise to shocking levels, with one estimate of the price tag being $1 trillion. Cybercrime also causes intangible losses such as tarnished reputations and lost customer trust.

G20 Nations to Maintain Stimulus Plans Until Recovery Is Assured

Merle David Kellerhals Jr. — Sun, 27 Sep 2009 17:17:39 -0500

Leaders of the Group of 20 advanced economies agreed to measures to restore the damaged global economic system, and also agreed to maintain current stimulus measures until a full recovery is assured.

U.S. Consumer Spending on Long Path to Recovery, Forecasters Say

Katherine Lewis — Fri, 25 Sep 2009 17:02:15 -0500

When will U.S. consumer spending, the lifeblood of the U.S. and world economies, rebound? Two economic forecasters discuss whether consumers’ new frugality is permanent — or likely to be forgotten once the job and credit markets revive.

G20 Meets as Global Economy Improves

Merle David Kellerhals Jr. — Fri, 25 Sep 2009 15:02:31 -0500

U.S. Treasury Secretary Timothy Geithner says leaders of the Group of 20 advanced and fastest growing economies are meeting for the third time in less than a year as the first signs of a global economic recovery are beginning to appear.

Top American Forecasters Talk About Consumers and Economic Growth

Andrzej Zwaniecki — Wed, 23 Sep 2009 12:06:56 -0500

Obama and China’s Hu Hold Talks on U.S.-China Relations

Merle David Kellerhals, Jr. — Wed, 23 Sep 2009 13:48:40 -0500

President Obama and Chinese President Hu Jintao, meeting for the second time this year, discuss major issues such as nuclear weapons programs in North Korea and Iran, climate change, global economic recovery, and specific economic and trade issues between the United States and China.

U.S.-Africa Trade Poised for Tremendous Growth

Charles W. Corey — Tue, 22 Sep 2009 19:22:31 -0500

There is potential for tremendous growth in trade between the United States and sub-Saharan Africa, says Kevin R. Boyd, director of the Office of Africa at the U.S. Department of Commerce. American firms will bring not only business, but also training and managerial know-how, he says.

While Rising, Trade Barriers Not Different from Previous Slumps

Andrzej Zwaniecki — Tue, 22 Sep 2009 18:18:37 -0500

Despite “slippage” by Group of 20 countries in abstaining from protectionism, the World Trade Organization finds no indication of “high intensity” protectionist measures taking hold around the world. A report from another group says China is the country targeted by the most protectionist measures.

Even as Fiscal Deficit Widens, U.S. Can Still Sell Treasuries

Warner Rose — Wed, 16 Sep 2009 10:45:43 -0500

U.S. Treasury bills are selling briskly around the world despite a record budget deficit and a U.S. financial crisis. As of July, overseas investors owned $3.428 trillion in Treasuries, $804 billion more than in June 2008. The July 2009 total is about 46.7 percent of U.S. publicly held debt.

Less Driving, Better Vehicles: Keys to Energy, Climate Causes

Andrzej Zwaniecki — Fri, 31 Jul 2009 15:39:19 -0500

Advanced auto technologies will produce dramatic fuel savings and reductions in greenhouse gas emissions in the future. But for now, the biggest advances are seen as coming from improvements to conventional cars and through people doing less driving.

Advanced Cars Will Save the Day, and Fuel, Eventually

Andrzej Zwaniecki — Fri, 31 Jul 2009 15:37:57 -0500

Automobiles that incorporate advanced technology to reduce fuel consumption and emissions create excitement among policymakers and environmental advocates as an important part of the solution to energy and climate problems. But consumers have yet to jump on the hybrid bandwagon.

U.S. Tells China Climate Change Is National Security Priority

Stephen Kaufman — Tue, 28 Jul 2009 17:49:40 -0500

Under the Obama administration, climate change has “risen up to the top of the U.S. national security set of priorities,” a State Department official says, and administration officials are working with their Chinese counterparts to find an agreement on reducing carbon dioxide emissions.

Obama Sets Bold New Principles for U.S. Energy, Climate Policies

Andrzej Zwaniecki — Mon, 26 Jan 2009 17:54:43 -0500

President Obama declares that the United States will lead in the global campaign against climate change. Moving to reverse Bush administration policies, Obama says, “We will make it clear to the world that America is ready to lead.” He also appeals to China and India to do their part.