U.S. Commerce Department Announces Launch of NEI NEXT
Washington, D.C. - Yesterday, the United States Commerce Department announced the launch of NEI/NEXT, which will build on the success of the National Export Initiative (NEI) launched by President Obama in 2010. NEI/NEXT is a new customer service-driven strategy with improved information resources that will ensure American businesses are fully able to capitalize on opportunities to sell their goods and services abroad.
Last year alone, the U.S. exported a record $2.3 trillion worth of goods and services, said Export-Import Bank Chairman and President Fred P. Hochberg. During the same time period, Ex-Im Bank approved more than $27 billion in total authorizations to support an estimated $37.4 billion in U.S. export sales and approximately 205,000 American jobs. By helping more U.S. companies reach more overseas markets, Ex-Im Bank will play a critical role in supporting NEI/NEXT and its goal of growing the U.S. economy and U.S. jobs through exports.
NEI/NEXT will be implemented through the Export Promotion Cabinet and Trade Promotion Coordinating Committee (TPCC), which consists of representatives from 20 federal departments and agencies with export-related programs. The Secretary of Commerce, Penny Pritzker, chairs the TPCC.
ABOUT EX-IM BANK:
Ex-Im Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working-capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services. In the past fiscal year alone, Ex-Im Bank earned for U.S. taxpayers more than $1 billion above the cost of operations.
In FY 2013, Ex-Im Bank approved more than $27 billion in total authorizations to support an estimated $37.4 billion in U.S. export sales and approximately 205,000 American jobs in communities across the country. For the year, the Bank approved a record 3,413 transactions— or 89 percent—for small-businesses. Small business exporters can learn about how Ex-Im Bank products can help them increase foreign sales at http://go.usa.gov/ZVTd. For other information about Ex-Im, visit www.exim.gov.
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