Columbia, MD: May 6, 2013â€”The Finance, Credit and International Business Association (FCIB) and the U.S. Commercial Service of the U.S. Department of Commerceâ€™s International Trade Administration (ITA) have signed a Memorandum of Understanding (MOU) to increase awareness in the U.S. business community, particularly among small and medium-sized businesses, about exporting and the tools and resources our organizations provide to help them succeed.
â€śWeâ€™re pleased to welcome FCIB as a partner in our efforts to strengthen the U.S. economy and support local jobs through expanding U.S. exports,â€ť said Under Secretary of Commerce for International Trade Francisco SĂˇnchez. â€śWith more than 95 percent of potential customers living outside U.S. borders, itâ€™s imperative that American companies of all sizes consider the benefits of selling their products abroad.â€ť
The MOU builds on previous collaborations between FCIB and ITA, including the development of the third edition of ITAâ€™s Trade Finance Guide: A Quick Reference for U.S. Exporters and a first-ever Spanish-language version of the guide, available soon. Written in plain and easily understood language, the Trade Finance Guide provides exporters of all sizes with what they need to know in order to use exports to grow their business.
â€śBy working together, FCIB and ITA are making it easier for all U.S. companies to take advantage of the exporting opportunities offered around the globe. The Trade Finance Guide, which is now in its third edition and will soon be available to Spanish-speaking business owners, was only the first step in what will be a long line of collaborations geared toward unlocking world markets for businesses of all sizes,â€ť said FCIBâ€™s Directorâ€“Americas Marta Chacon, CICP. â€śFCIB is looking forward to acting as a portal through which exporters can find the tools and resources they need to effectively conduct international trade.â€ť
Under the MOU, FCIB and U.S. Commercial Serviceâ€™s network of worldwide offices will work together on marketing, education programs and events leveraging both entitiesâ€™ expertise to help make U.S. businessesâ€”and particularly small and medium-sized firmsâ€”more export savvy. Joint activities may include building awareness through outreach at trade shows, direct mail campaigns and online registration for resource support.
In 2010, President Barack Obama announced the National Export Initiative (NEI) with the goal of doubling U.S. exports by the end of 2014. The partnership supports this goal by educating U.S. exporters about the benefits exporting and expanding their exports to additional markets, and the public and private sector resources to assist them. FCIB joins several of the U.S. Commercial Serviceâ€™s Strategic Partners who have connected more than 1,500 companies to federal export assistance.
Established in 1919, FCIB is internationally recognized as the premier association of executives in Finance, Credit and International Business, providing critical export credit and collections insight, practical advice and intelligence to companies of all sizes, from Fortune 500 multinationals to medium and small private companies. With a membership of over 1,100 global credit and trade finance professionals located in 55 countries around the world, FCIB offers unique networking and educational opportunities to enhance professional careers and improve company competitiveness and bottom line. FCIB assists international credit and trade finance professionals in leading and conducting global commercial credit operations. Through education, its powerful global-reaching network, business credit intelligence and related products, services and resources, FCIB promotes best practices and ethical credit management policies. FCIB facilitates discussions and the exchange of information at meetings, conferences, roundtables, providing a forum for its members to advance their knowledge and careers. FCIB is a division and a wholly-owned subsidiary of the National Association of Credit Management. www.fcibglobal.com
ABOUT THE U.S. COMMERCIAL SERVICE
The U.S. Commercial Service is the trade promotion arm of the U.S. Department of Commerceâ€™s International Trade Administration. U.S. Commercial Service trade professionals in more than 100 U.S. cities and in more than 70 countries help U.S. companies get started in exporting or increase sales to new global markets. Visit www.trade.gov/cs to learn more.