Return to:Index of "Economic and Business Issues" || Electronic Research Collections Index || ERC Homepage

U.S. Department of State
95/07/01 Newsletter
Office of the Coordinator for Business Affairs


 
                            National Export Strategy Update 
                               U.S. EXPORTS = U.S. JOBS 
                                      July 1995 



                                 NEW INITIATIVES 
 
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 
(202) 336-8680. 
 
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.  
 
                                    FOCUS ON 
 
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) 
647-5860.  
 
                                   EVENTS 
 
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.   

(###)
To the top of this page