Commerce, USPS to boost U.S. exports
The U.S. Commerce Department and Postal Service announced a new program to help boost the nation's exports.
The New Market Exporter Initiative will identify current Postal Service customers who are exporting goods and services abroad, and help expand their reach to additional international markets. The announcement expands a partnership formed between the two entities in 2008.
'Through its network of 32,000 post offices and partner posts in 191 countries, the Postal Service will identify small- and medium-sized businesses that already export — and alert these customers to government sources that can help them find new overseas markets,' said the Commerce Department in a statement on Monday.
'The Commerce Department, with its network of trade specialists posted in 109 U.S. cities and U.S. embassies and consulates in 77 countries, will serve as a resource to the companies, connecting them with potential international buyers,' the department added.
Less than 1 percent of the country's 30 million companies export, and of those companies that do export, 58 percent sell to only one international market.
The New Market Exporter Initiative's goal is to educate U.S. exporters about the benefits of expanding their exports to additional markets, and the public and private sector resources to help them. To reach this goal, the Commerce Department has also engaged other partners, including FedEx and UPS.