June 2008 News

U.S. Commerce Department Launches India Business Center

The U.S. Commerce Department announced June 17 that it has established a new India Business Center (IBC), housed in the Trade Information Center of the U.S. Commercial Service. The IBC will help U.S. companies take advantage of emerging market opportunities and the fast growing purchasing power of the middle class in India. Key sectors include education services, computer and peripherals, medical equipment, oil and gas field machinery, pollution control equipment, retail and franchising services and telecommunications. The IBC provides a range of services for U.S. exporters seeking to trade in India, including a Web portal that contains up-to-date information about doing business in India. In 2007, U.S.-India two-way trade reached an all-time high of $41 billion. U.S. merchandise exports to India increased 75 percent in 2006 to almost $18 billion in 2007. India’s gross domestic product (GDP) is currently increasing by 8-9 percent per year, making it one of the fastest growing large economies in the world.

View ITA press release

Secretary Gutierrez to Lead CAFTA-DR Business Development Mission

Commerce Secretary Carlos M. Gutierrez announced that he will lead a business delegation of U.S. exporters on a business development mission to the Dominican Republic, Nicaragua and Costa Rica, September 28-October 4, 2008. The mission will promote U.S. exports and investment and highlight regional opportunities that the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) has created since its implementation in 2006. The CAFTA-DR region is the third-largest export market in Latin America and the Caribbean, and the fourteenth-largest market in the world for U.S. exports.

View information about participating in CAFTA-DR Business Development Mission

2008 U.S. - EU Summit Declaration

View the text of the 2008 U.S. – EU Summit Declaration, which was released after U.S. and EU leaders met in Slovenia on June 10 “to further strengthen our strategic partnership.” In their declaration, the United States and European Union restated their commitment to an open global investment environment and strengthening the U.S.-EU Investment Dialogue “because open investment policies are fundamental to transatlantic and global economic growth and prosperity.” The parties “will advance our shared objective of effective protection and enforcement of intellectual property rights... (and) will work together with other trading partners to seek to conclude a strong Anti-Counterfeiting Trade Agreement (ACTA) by the end of the year.” The United States and European Union “remain committed to achieving a prompt, ambitious and balanced outcome in the WTO Doha Development Agenda ... (and) call on all WTO members to make meaningful contributions that are necessary to advance the negotiations, achieve a breakthrough on modalities in the next few weeks, and conclude an agreement as a matter of urgency.”

ITA Under Secretary Addresses U.S.-India Partnership in the 21st Century

Under Secretary of Commerce for International Trade Christopher A. Padilla discussed the U.S.-India strategic partnership and efforts to jointly address the challenges and opportunities of the twenty-first century during his June 9 remarks to the Heritage Foundation. Padilla said that India's rising economic power comes with the responsibility for playing a more central, constructive role in areas such as energy, food and global trade. Regarding the Doha Round of trade negotiations, Mr. Padilla noted that “so far, India has resisted virtually all liberalizing proposals … even those proffered by other developing countries. “ He called on India “to step up and take responsible leadership, rather than working behind the scenes for Doha’s demise. “

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Gutierrez Opinion Editorial Published in Czech Republic Business Daily

View the text of an opinion editorial by Commerce Secretary Carlos M. Gutierrez that ran in E15, a Czech business daily. In the article, the Secretary wrote, “Through stronger ties, both political and economic, the United States and the Czech Republic will continue to work toward a freer, more prosperous future.” The Secretary underscored the need for intellectual property rights protection and enforcement, stating “Foreign companies must know their products are protected and their brands are respected in the Czech Republic,” adding that such protection also benefits Czech industry.

Commerce Secretary Gutierrez Visits Czech Republic to Highlight Bilateral Economic and Commercial Ties

U.S. Commerce Secretary Carlos M. Gutierrez will travel to Prague, Czech Republic June 3 to acknowledge the Czech Republic’s commitment to democracy and forge stronger political and economic ties between both countries. “The Czech Republic will take a significant leadership role in the first half of 2009 as it assumes the presidency of the European Union,” Gutierrez said. “We look forward to further expanding our bilateral commercial activity as well as building a strong foundation to enhance transatlantic cooperation in the months ahead.” U.S.-Czech two-way trade in 2007 totaled $3.7 billion, and U.S. exports to the Czech Republic increased by 12 percent over 2006.

View Commerce press release