On March 23-24, 2015, U.S. hosted the second SelectUSA Investment Summit in the Washington, DC area, bringing together investors from all over the world, as well as economic development organizations from every corner of the United States. The 2015 SelectUSA Investment Summit has record attendance. With more than 2,600 people from more than 70 markets, and economic development organizations from all corners of the United States, In fact, it is more than twice as large as the inaugural 2013 event and reflects growing global interest in the United States as trade partner and a place to launch and expand operations, invest in research and development, and create jobs.
This is the perfect time to focus on opportunities in one of the most dynamic and innovative markets in the word with an advanced IT infrastructure investment, and strong R&D. Indeed, globally, trade accounts for more than 60% of gross domestic product (GDP), and the country’s operating in this environment benefits from good openness to FDI. The U.S. is the largest exporter in the world for commercial services and the second largest for merchandise. Trade in goods drives the majority of both exporting and importing activity. Historically, exports have grown as a share of U.S. GDP. Trade volume growth typically outpaces real GDP growth, and is expected to do so over the next five years. (The International Trade Administration U.S. Trade Overview, 2013 – Report)
It takes more and more investment in innovation and economic openness for U.S to remain king of employment TFP. More than 12 million jobs have been created over the last 60 months, and wages are beginning to rise again. U.S. businesses have added more than 200,000 jobs per month every month for 12 consecutive months—the first time that’s happened in 37 years. Global investors have taken notice and are accelerating their investment in the United States, already home to more foreign direct investment than any other country in the world. This is what is happening for many of Swedish companies, with higher-value trade sales and entrepreneurs who have entered U.S. market. Sweden, one of the best performing countries in EU, and U.S. are two countries with an impressive relationship in trade, supporting Jobs on both sides of Atlantic. Two-way investment helps build a more prosperous America and a more prosperous world.
The ongoing negotiation of the Transatlantic Trade and Investment Partnership (TTIP) and of the Trans-Pacific
Partnership Agreement (TPPA) has also further potential impact of trade facilitation by making international trade easier and less bureaucratic. Research from leading economists shows, the global benefit-cost balance of trade-facilitation reforms remains strongly positive. Improved trade-facilitation benefits all actors within GVC. One implication is that firm-level data should reveal that large firms, but not smaller ones, export more in response to improved trade facilitation. But this research finds no evidence of significant differences according to firm size. The gains of trade-enabling measures are multiple and far reaching, extending beyond trade and contributing to broader development objectives in policy, business practices, and cultural exchange between America, its allies and partners around the world. Trade-is-liberal-politics-of-credibility.
Finally, most trade-enabling measures have positive spillover effects. Improvements in one area can lead to improvement in others. These include: Export competitiveness, private sector development and foreign direct investment, market integration, economic growth (A permanent increase of annual GDP), and employment investment. Foreign businesses have injected an average of $67 billion a quarter into the U.S. economy over the last three quarters, compared with an average of $49 billion quarterly from 2009 to 2013, according to Department of Commerce data released last week.
To maintain this momentum, at the second SelectUSA Investment Summit the U.S. President Obama announced New Steps to Attract Foreign Investors, and that the U.S. Citizenship and Immigration Services will increase clarity around the adjudication of the L-1B non-immigrant visa that allows international companies to temporarily deploy workers with specialized knowledge to the United States when launching or conducting operations in the United States. New Administration initiatives to bring job-creating investment from around the world to the United States. This long-anticipated policy guidance is of particular interest to global companies participating in today’s SelectUSA Investment Summit 2015.
Trade and investment is a vital part of the global economy.”The number one thing we can do to expand trade and investment is finalize free trade agreements, bilateral investment treaties”, said Sec Kerry at second day of the Summit. U.S Secretary of State John Kerry @JohnKerry: continually reminds diplomats that “foreign policy is economic policy.” I could not agree more. There is no better diplomatic investment in the years ahead than the Transatlantic Trade and Investment Partnership agreements, which would bring higher standards of free market rules to two-thirds of the global economy and strengthen American and European prosperity for decades to come.
The real strength of business relationship lies in its trusted, and lasting relationships. These relationships enable to procure merchandise that is in genuinely scarce supply, at least in some other markets. If you are investor or entrepreneur thinking about opening or expanding operations in the United States, then the SelectUSA Summit is for you.