According to President Barack Obama, U.S. exports are set to double over the next five years. He said that the progress was going according to plan and would definitely achieve his goal. He supported his claim by pointing out that during the first four months of this year U.S. exports had grown by 17 percent.
Although he acknowledged that the global recovery had also played a part, he said that much of it was due to the conditions that had been created for exporters. In efforts to promote U.S. businesses, the government has so far sent 18 trade missions abroad to 24 countries. The Export-Import bank has also seen a surge in loan applications, mainly from smaller businesses. The President urged all manufacturers to be competitive in their pricing. He said that almost all the fast growing markets were far beyond U.S. borders and tapping that market would not be easy with current pricing schemes.
Obama said that he would do all he could to put more trade agreements in place. He also said that he expected other countries to reciprocate the gesture that America makes by having low barriers to trade. He was also proud of the achievements of his Administration; especially the poultry deal with Russia and the Pork deal with China.
Obama has widened his advisory committee as well. The committee which advises him on stimulating business abroad now holds 18 members. Those on board are mostly head of large companies like Walt Disney, Xerox and Ford Motor.