| Clinton |
Malaysia is the 15th-largest U.S. trading partner with two-way trade of $40 billion, plus an additional $3.3 billion in services. The United States is the largest foreign direct investor in Malaysia, where American manufacturers have invested about $15 billion and employ 166,000 people.
The aircraft deal 'creates high-paying, skilled jobs in both countries. The Pratt & Whitney engines will be assembled in Connecticut with parts made in Georgia and Maine. The engine maintenance will be done in Malaysia by local workers trained by Pratt & Whitney,' Clinton said during a ceremony at Subang Airport in Kuala Lumpur.
President Obama has set a goal of doubling exports during the next five years. The difference between the National Export Initiative and previous government efforts at export promotion 'is that it's a government-wide effort,' Nicole Lamb-Hale, assistant secretary for manufacturing and services at the Commerce Department, said Sept. 29 on the sidelines of a major logistics conference in San Diego.
'It's not just the Commerce Department. It's not just the U.S. Trade Representative,' but also other agencies that aren't focused on trade as their primary mission, she said.
The goal is to help smaller U.S. companies navigate the maze of customs and bureaucratic issues that can impede trade, and make them more aware of existing assistance programs.
The Commerce Department's Gold Key program, for example, helps companies develop strategies for doing business in a particular country. Of the U.S. companies that export today, 58 percent only ship to one country.
'If we can get them to export to one more country, what a difference that would make,' Lamb-Hale said.
The president's fiscal year 2011 budget also seeks to hire more commercial officers stationed in embassies and consulates around the world. ' Eric Kulisch
