The U.S. Commercial Service has never been a secret, but many are still unaware of the benefits it provides to American-based companies with 51 percent U.S. content. The organization is a small but important part of the Department of Commerce’s International Trade Administration. It helps businesses enter new markets, meet and verify partners, conduct market research and dispute trade barriers. How can it help you?
1. MEET WITH LEGITIMATE INTERNATIONAL BUYERS
The International Buyer Program (IBP) is a joint government-industry effort that brings thousands of international buyers to the United States for business-to-business matchmaking with U.S. firms exhibiting at major industry trade shows. Every year, its efforts result in approximately a billion dollars in new business for U.S. companies, and increases international attendance for participating U.S. trade show organizers.
Last year, IBP traveled with more than 850 foreign buyers and conducted nearly 200 business-to-business meetings at NAB Show.
Thus far, the program is bringing buyers from the following markets: Argentina, Australia, Brazil, Colombia, Cote D’Ivore, Dominican Republic, Indonesia, Kenya, Mexico, Netherlands, New Zealand, Nigeria, South Africa, Taiwan, Thailand, Turkey, Vietnam and more.
2. EFFECTIVE SERVICES
The U.S. Commercial Service provides a multitude of services for exporters and potential exporters at a fraction of the cost charged by private sector consultants. In 2016, U.S. exports totaled approximately $1.5 trillion. The organization’s unique role in the trade promotion space directly contributed to $45.5 billion in growth of exports and supported an estimated 250,000 jobs.
On average clients report a $600,000 increase in revenue, during a 12-month period. Additionally, approximately 80 percent of U.S. Commercial Service clients are likely to recommend its assistance.
The core services provided at NAB Show include: The Global Markets Insight Program allows companies to showcase products and services to international industry specialists from 20+ U.S. embassies and consulates, who provide feedback on market opportunities and challenges, market potential for products and services, and best practices for exporting.
The B2B Matchmaking Program is designed primarily for export-interested exhibitors. Export counselors can facilitate one-on-one business matchmaking meetings with international buyers from any of the 20+ countries during the show.
3. CONNECT WITH EMBASSY LIAISONS
The U.S. Commercial Service has offices located in more than 100 U.S. cities and 70 international locations. Trade Specialists connect U.S. companies with international distributors, buyers and sales channels leveraging an unrivaled global footprint when compared to any private or public-sector consultants.
In preparation for meeting with international buyers or embassy liaisons, review the Media and Entertainment 2016 Top Markets Report, which is a market assessment tool for U.S. exporters. The report aids with market research and may help inform decisions concerning which country buyers and/or specialists should arrange one-on-one meetings with.
U.S. Commercial Service trade specialists are available in the International Trade Center (ITC) located in the North Hall Room N249 to meet with NAB Show attendees interested in learning about international trade services for U.S. businesses.