Dominik Knoll, CEO of the World Trade Center of New Orleans, participates in White House Business Briefing on International Trade

Jul 23, 2015, 17:29 ET from World Trade Center of New Orleans (WTCNO)

NEW ORLEANS, July 23, 2015 /PRNewswire-USNewswire/ -- Dominik Knoll, CEO of the World Trade Center of New Orleans, recently participated in an invitation-only White House Business Briefing on behalf of the World Trade Center's more than 1,000 business members with operations throughout the Gulf Coast. Trade administration officials participating in the meeting included U.S. Secretary of Commerce Penny Pritzker, U.S. Trade Representative Michael Froman, Deputy Administrator of the U.S. Small Business Administration, Doug Kramer, as well as Jeffrey Zients of the U.S. Department of Homeland Security and Christina Sevilla of the International Trade Administration. The briefing addressed key topics including the status of current trade negotiations, importance of a renewed Export-Import Bank, as well as in-depth discussion on the impact of trade to America's small businesses and state economies.

"It's important for our region to have a seat at the table for discussions related to trade and growth in our economy. For example, Louisiana ranks sixth among all exporting states and our ports are the busiest of all ports, by volume, in the United States." Dominik Knoll said. "We are punching above our weight in a number of business categories, but particularly as it relates to trade."

According to Secretary Pritzker, one-third of U.S. growth comes from exports, and while Small to Medium Sized Enterprises (SMEs) account for more than 96% of all businesses in the US and roughly 50-85% of domestic employment, SME's only have a 30% share of exports. "We are in the process of changing these percentages," Knoll noted.

Jeffrey Zients, Director of the National Economic Council and Assistant to the President for Economic Policy, stated that, worldwide, the number one place to invest is the United States. Zients noted that 300,000 U.S. companies export; of those, ninety-eight percent are small businesses and ninety percent only export to one or two countries. On average, companies that export pay eighteen percent higher. In addition to these, the Mississippi River supports more than 1 million U.S. jobs.

"We know that trade supports more than 500,000 jobs in Louisiana, and the Mississippi River supports more than 1 million U.S. jobs. Expanded opportunities in new markets for U.S. and Louisiana goods will open the pathway for investment and increased job creation. The World Trade Center fully supports the renewal of existing measures such as the the Ex-Im Bank, as well as the drafting of new agreements like the TTIP and TPP, as well as additional lawmaking that increases trade opportunities for our members and the larger business community." Domink Knoll said.

For more information, contact The World Trade Center of New Orleans at (504) 529-1601 or email info@wtcno.org.

Press Contact/np/admin/systemsetting/jsteverson@wtcno.org" rel="nofollow" target="_blank">jsteverson@wtcno.org

 

SOURCE World Trade Center of New Orleans (WTCNO)