In early 2010, the Obama administration set a goal of doubling U.S. exports by the end of 2014. As part of that effort, it launched the Global Buyer Initiative. The aim was to match foreign companies already importing American goods and services with small and mid-sized U.S. suppliers.
The Commerce Department spearheaded the initiative, in partnership with Federal Express. Recently, it inked a similar deal with DHL. The German shipper is now matching U.S. companies with partners in Latin America. Mike Parra, a senior vice president at DHL Express, says U.S. exports to the region are booming.
“From the U.S. to Latin America, since 2011, growth has really has grown by 82%. And exports to, as an example, to Asia-Pacific has grown by 52%. To the European Union, by 64%.”
Houston ranks among the top U.S. metro areas for exports to Latin America, with tens of billions of dollars in annual sales to the region.