Renewable Energy and Energy Efficiency Export Initiative Announced Today

Today, U.S. Commerce Secretary Gary Locke [pictured] joined seven other U.S. government agencies in launching a coordinated effort to promote renewable energy and energy-efficiency exports: the Renewable Energy and Energy Efficiency Export Initiative.

The initiative was developed through the Trade Promotion Coordinating Committee Working Group on Renewable Energy and Energy Efficiency, which includes representatives from the U.S. Departments of Commerce, Energy, State, and Agriculture. Other members include the Export-Import Bank of the United States [Ex-Im]; the Overseas Private Investment Corporation [OPIC]; the U.S. Trade and Development Agency; and the Office of the United States Trade Representative.

Through the initiative, the U.S. Government will support renewable energy and energy efficiency [RE&EE] exporters by offering new financing products; enhancing market access; increasing trade promotion; and improving the delivery of export promotion services to current and future RE&EE companies.

"The initiative lays the foundation necessary to help U.S. renewable-energy and energy-efficiency companies take better advantage of current market opportunities," Locke explained. "It also positions federal government programs to better support U.S. global competitiveness in these sectors over the long run."

Energy is a $6 trillion global market, and clean energy is the fastest-growing sector.

The initiative, which is described in a report being released today by the Commerce Department, comes on the heels of formation of the Renewable Energy and Energy Efficiency Advisory Committee, which is made up of industry leaders. Locke chaired the committee’s first meeting today. This committee will advise Secretary Locke on the development and implementation of programs and policies that will help to expand the competitiveness of the U.S. renewable-energy and energy-efficiency industries.

This initiative is the U.S. Government’s first-ever coordinated effort to support the promotion of renewable energy and energy-efficiency exports. Through the implementation of 23 inter-agency actions, the initiative is designed to facilitate an increase of RE&EE exports during the next five years, helping to meet the goals of the National Export Initiative and President Obama’s challenge to become the leading exporter of clean-energy technologies.

As part of the initiative, the federal government is launching a new online portal to provide renewable-energy companies easy access to U.S. Government export resources. Further, the Commerce Department is committing to an increased number of RE&EE trade and trade-policy missions.

Additionally, the initiative calls for:

* Creation of foreign buyers' guides for U.S. RE&EE technologies;
* Commitment by OPIC to invest an additional $300 million in financing for renewable-resource projects in emerging markets, plus additional new products for energy efficiency-subordinated debt financing and clean-energy technology equipment leasing;
* Streamlining of RE&EE financing applications at both OPIC and Ex-Im;
* Formation of a new subcommittee at the Office of the U.S. Trade Representative to address market access barriers facing the U.S. RE&EE industry in foreign markets; and
* Expansion of USDA’s Market Access Program [MAP] to include biomass wood pellets. [Currently, the program focuses on biofuel products, but not biomass.]

The report is available for download from the new Web portal at http://export.gov/reee.

SOURCE: U.S. Department of Commerce
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Rep. Velázquez: Trade Changes Needed to Promote U.S. Small Business Abroad

Though small businesses make up 97 percent of America's exporters, they generate only 30 percent of national revenues from products sold overseas. The House Small Business Committee today pressed the Office of the U.S. Trade Representative [USTR] on their failure to have staff dedicated to ensuring that the needs of small firms are accounted for in trade practices, and examined current strategies to assist entrepreneurs with finding prospects in international markets.

"Small businesses have shown that they are eager and able to compete around the world," said Chairwoman Nydia M. Velázquez. "It only makes sense that there would be USTR officials dedicated to representing their interests.

"Despite the need for this representation, we heard today that out of the 22 assistant USTRs, not one is charged with aiding entrepreneurs. This is simply unacceptable in today's global marketplace, where small businesses play such a dominant role."

Though small firms have demonstrated interest and achieved success in the international arena, the unique challenges they face have slowed their expansion. For small businesses, conducting foreign transactions may prove to be expensive, thus limiting their ability to reach new customers and grow. Entrepreneurs also use a disproportionate amount of their resources navigating complex customs requirements, as well as complying with local, state, and federal laws.

Recent agreements have not included industries dominated by small business. They have also failed to stop unfair trade practices -- such as dumping and intellectual property theft -- that harm entrepreneurs. These actions are limiting small businesses' opportunities to benefit from trade, making it more difficult for them to compete domestically and internationally.

"Global opportunities are critical to many small business owners, who rely on trade to expand their ventures and continue innovating," Velázquez said. "Current trade measures have not created an environment that is conducive to entrepreneurial success."

Expansion into new markets has the potential to boost revenues -- improving small firms' overall ability to create jobs and contribute to domestic economic growth. Steps must, therefore, be taken to ensure they are an integral part of trade policies.

At today's hearing, witnesses outlined a small business-oriented trade strategy -- including international commitments that provide more transparent and less expensive regulations. Additionally, harmonizing and simplifying customs requirements would allow small businesses to easily export to multiple countries, giving them access to more customers in return for their investment.

Trade promotion programs that focus specifically on small firms -- such as the financing program at the Export-Import Bank -- can play an important role in maintaining small companies' competitiveness. These changes will increase domestic profits from exports, combating the rising trade deficit.

"As Congress debates new international agreements and considers changing its trade rules, small firms have a lot at stake," Velázquez noted. "This committee will work to streamline the process and ensure small business interests are promoted, not marginalized, as they have been in the past."
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