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U.S. Department of State
Office of the Coordinator for Business Affairs
National Export Strategy Update
U.S. EXPORTS = U.S. JOBS
OPIC Signing of U.S.-Russian Mining Deal in Moscow: During the meetings
of the Gore-Chernomyrdin Commission in Moscow in late June, the Overseas
Private Investment Corporation (OPIC) signed a contract to provide
financing to a private American-Russian joint venture that will mine
gold in the Russian Far East. The U.S. sponsor for the joint venture
is Cyprus Amax Minerals Company of Denver, Colorado. Vice President Al
Gore and Russian Prime Minister Viktor Chernomyrdin witnessed OPIC
President Ruth Harkin's signing of the contract committing OPIC to
provide $52.5 million to the project. In addition to providing project
finance, OPIC will be offering Cyprus Amax about $60 million in
political risk insurance, bringing total OPIC support to $112.5 million.
The project will purchase about $34 million in American goods and
services. For additional information, contact Allison May Rosen on
SBA Announces Lending Partnership with Florida Export Agency: The Small
Business Administration (SBA) and the Florida Export Finance Corporation
(FEFC) have launched a cooperative effort to provide joint guaranties on
Export Working Capital Program (EWCP) loans to finance exports by
Florida companies. Under the three-year agreement, the two agencies
will be able to co-guarantee commercial bank loans providing small
businesses with capital to build inventory, purchase raw materials and
finance accounts receivables. Both agencies can provide guaranties of
up to 90 percent of the loan amounts, with a maximum guaranty by the
FEFC of $500,000. Thus, the maximum combined guaranty can be as high as
$1.25 million. SBA's Export Working Capital Program loan can support
single transactions or groups of multiple sales. SBA is working to
reach similar agreements with other states that have export finance
programs that are compatible with SBA's EWCP. For more information,
contact SBA's Office of International Trade on (202) 205-6720.
Normalization of Relations with Vietnam: On July 11, the United States
re-established diplomatic relations with Vietnam. The U.S. government
now is examining the various phases of economic normalization of our
relations with Vietnam consistent with our commitment to ensure progress
on human and labor rights. For more information, contact Win Dayton at
the State Department's Vietnam Desk on (202) 647-3132.
Organization for Security and Cooperation in Europe: Commerce Assistant
Secretary Charles Meissner led a U.S. delegation including U.S. business
representatives to the third OSCE Economic Forum in Prague on June 7-9.
Business representatives from 10 countries called for the formation of
an OSCE private sector group to assist businesses and to provide a
business perspective to the 52-nation OSCE. Contact OSCE Coordinator
Tom Price on (202) 736-7290 for further information.
U.S.- Japan Investment Arrangement: A broad-ranging U.S.-Japan
Investment Arrangement was signed on July 20. The detailed agreement,
18 months in the making, makes available billions of dollars of
Government of Japan financing for foreign direct investment (FDI)
projects, improves government facilitation of FDI, assures a policy of
fair treatment of foreign investors, and promotes foreign participation
in mergers and acquisitions. There will be vigorous follow-up to ensure
effective implementation , and continued consultations with the U.S.
business community. Contact Anne Pence for more information on (202)
Six New USEACs to Open this Summer: The official opening of the fifth
U.S. Export Assistance Center (USEAC) was held in Seattle on June 26.
Key Federal officials including SBA Administrator Phil Lader, Washington
Governor Mike Lowry, Seattle Mayor Norm Rice, Ex-Im Bank Vice Chairman
Martin Kamarck, and Department of Commerce Assistant Secretary &
Director General Lauri Fitz-Pegado spoke to a "standing room only"
crowd of over 300 local business and community leaders. The Cleveland
USEAC opening took place on July 12 at the new Bank One building.
Speakers included Commerce Deputy Secretary David Barram and SBA
Regional Administrator Peter Barca. In August, four more USEACs will
open in Denver, Dallas, St. Louis and New York City. By the end of the
year, a total of 15 USEACs will be open nationwide, offering a full
range of federal export programs and services to U.S. firms seeking to
enter or expand their businesses overseas. For more information,
contact Ann Tull at the Department of Commerce on (202) 482-1971 or
SBA's Office of International Trade on (202) 205-6720.
APEC Senior Officials Meeting: Senior officials of the Asia Pacific
Economic Cooperation forum (APEC), met July 6 to 8 in Sapporo, Japan,
to discuss the framework for liberalization and facilitation of trade
and investment in the Asia Pacific region in preparation for this year's
APEC economic leaders meeting in Osaka, November 19, 1995. For more
information, contact Stuart Allen at (202) 647-4835.
NEW INFORMATION RESOURCES
SBA Releases New Edition of Popular Book on Exporting: The second
edition of Breaking Into the Trade Game (publication code EXPORT-TRADE)
is now available free of charge through all SBA district offices and
U.S. Export Assistance Centers. This updated publication serves as a
handbook for small businesses interested in exporting. The book is
divided into two parts. Part one takes the entrepreneur through the
exporting process -- from writing an international business plan, market
research and distribution, to strategic alliances and foreign investment
opportunities. Part two is a comprehensive directory of resources,
contacts and additional information to assist the company in going
global. Contact SBA's Office of International Trade on (202) 205-6720
for further information.
This publication is produced by the Secretariat of the Trade Promotion
Coordinating Committee (TPCC), an interagency group chaired by Secretary
Ronald H. Brown. The TPCC is responsible for coordinating the
implementation of the U.S. Government's National Export Strategy. For
more information call (202) 482-5455.
Note: Due to the impending release of our next National Export Strategy
Report to Congress in late September, the Update will take a hiatus
during for the months of August and September. We will look forward to
resuming publication in October.
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