With dim prospects for significant improvement in the economy before year’s end, hard-hit South Florida continues to struggle with recession – with one exception: international trade.
It was welcome news, then, when this year the Obama Administration announced a National Export Initiative (NIE), a plan to double exports over the next five years. The three pillars of the NIE are trade advocacy, improved access to credit for small- and medium-sized businesses that want to export and rigorous enforcement of trade laws to help remove barriers to foreign markets for US firms.
The NIE could not come at a better time. The nation’s trade deficit has grown to over $40.3 billion, as exports have been decreasing faster than imports.
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Read: “Making the most out of overseas trade missions,“ an article from Jerry Haar for Miami Today.