ANNAPOLIS, Md., June 6, 2019 /PRNewswire/ -- TRACE, the globally recognized anti-bribery business organization, and the International Trade Administration (ITA) of the U.S. Department of Commerce have announced a Strategic Partnership to enhance the international competitiveness of U.S. industry and improve the global business environment.
Together, TRACE and ITA will work to facilitate clean and transparent international trade and commerce, support both U.S. companies and foreign investors seeking new business opportunities, and educate companies on anti-bribery compliance.
TRACE has over 500 members and clients and works to advance commercial transparency worldwide. In addition to promoting U.S. exports and investment and advancing America's global competitiveness, one of ITA's areas of focus is compliance with trade laws and agreements.
"ITA is a natural partner for TRACE given our shared interest in strengthening the competitiveness of U.S. industry while ensuring fair trade and compliance with anti-bribery laws," TRACE President Alexandra Wrage said. "We look forward to working with ITA to help both U.S. companies and their foreign partners identify new investment opportunities and increase transparency in business."
TRACE and ITA have previously collaborated via the U.S. Commercial Service's Trade Winds Indo-Pacific Forum & Mission, which provided an opportunity for TRACE to meet with more than 100 companies. TRACE provided anti-bribery resources, expertise and export counseling alongside U.S. diplomats.
"Through this partnership, TRACE and ITA's complimentary due diligence expertise can better assist U.S. companies to vet and qualify overseas partners," said U.S. Commercial Service Director Colleen Fisher.
TRACE is a globally recognized anti-bribery business association and leading provider of shared-cost third party risk management solutions. Members and clients include over 500 multinational companies located worldwide. TRACE is headquartered in the United States and registered in Canada, with a presence on five continents. For more information, visit www.TRACEinternational.org.
About the International Trade Administration
The ITA is the premier resource for American companies competing in the global marketplace. ITA has more than 2,200 employees assisting U.S. exporters in more than 100 U.S. cities and 75 markets worldwide. ITA works to improve the global business environment and helps U.S. organizations compete at home and abroad. ITA works with its Strategic Partners in support of ITA's mission to strengthen the competitiveness of U.S. industry, promote trade and investment, and ensure fair trade through the rigorous enforcement of our trade laws and agreements. For more information, visit: www.trade.gov