BIS, minority business team up on export compliance
The Bureau of Industry and Security and Minority Business Development Agency, both part of the U.S. Commerce Department, this week agreed to work more closely together to educate minority-owned businesses about the importance of compliance with the country's export control regulations.
According to a recent report, minority-owned firms are twice as likely to export, compared to non-minority-owned firms.
'It is of critical importance that we encourage minority entrepreneurs to engage in the global economy and take advantage of free trade agreements,' said MBDA Director Ronald N. Langston, in a statement. 'It's also important that we make sure minority business enterprises are aware of security and enforcement issues under the jurisdiction of BIS.'