International Trade Administration Supports Industry Group To Increase U.S. Exports to Indonesia
U.S. Under Secretary of Commerce for International Trade Stefan M. Selig announced yesterday that the Reston, Virginia-based non-profit, The Association for Suppliers of Printing, Publishing and Converting Technologies (NPES), will receive nearly $300,000 from the International Trade Administration’s (ITA) Market Development Cooperator Program (MDCP) to help the printing, publishing, and converting industry produce exports to Indonesia.
These funds are expected to generate an estimated $28 million in exports during the next three years by companies across the United States. NPES will match the MDCP award with an investment of $655,709 of its own resources.
“With 96 percent of the world’s consumers living outside of our borders, exporting is a sure path to growth, prosperity, and good-paying jobs,” Selig said. “NPES recognizes the positive impact exporting can have on the bottom line for their member organizations. MDCP awards to groups like NPES are part of President Obama’s government-wide strategy to strengthen America’s economy by increasing exports.”
MDCP award winners pledge at least two-thirds of project costs and to sustain its project after the initial MDCP award period ends. This project will allow NPES to expand U.S. exports by opening an office in Jakarta, developing programs to help U.S. firms participate in trade shows and trade missions abroad, and providing technical training and education to parties in Indonesia.
MDCP awards include financial and technical assistance from ITA to support well-defined business plans aimed at strengthening an industry by increasing exports. MDCP partnerships between ITA and nonprofit industry groups help to create U.S. jobs through exports.
This year, five non-profit industry groups are receiving MDCP awards. In total, these projects are expected to generate more than $653 million in U.S. exports in the next three years in return for the one-time $1.4 million Federal investment.
Since Market Development Cooperator Program’s inception in 1993, ITA has issued 141 awards to 108 organizations in 32 states. The program has helped to generate more than $9 billion in exports. In an average year, MDCP projects generate $595 million in U.S. exports.
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