On February 3rd, U.S. Deputy Secretary of Commerce Dennis F. Hightower reiterated President Obama’s call to double exports over the next five years to an audience of area exporters, government leaders, and members of the academic community at the WTCGP’s 7th Annual Global Business Conference (GBC) held each year at Drexel University.

Anthony Bortolomeo, Chairman, WTCGP Board of Directors, Deputy Secretary Dennis F. Hightower, Mayor Michael Nutter, City of Philadelphia, Dr. George Tsetsekos, Dean, LeBow College of Business, and Linda Conlin, President, WTCGP

Deputy Secretary Hightower identified five key Department of Commerce strategies to accelerate export growth: a renewed focus on the promotion of US business around the globe, business visa reform to remove obstacles for foreign partners seeking to do business here, a strategy to streamline an antiquated and cumbersome export control system, strengthening intellectual property protection to stem the $200 billion plus of losses suffered by US companies each year due to theft of intellectual property, and emphasizing within every federal department the need to promote and facilitate exports.

Hightower’s speech was within the context of the 2010 Global Business Conference theme of “Preparing for the Rebound: Strategies for Success in Global Markets.”  The Obama Administration looks to support global trade with the National Export Initiative (NEI) in an effort to create nearly 2 million jobs over the next five years and doubling U.S. exports.  As a driver of trade growth for the region, the WTCGP delivers a variety of programs to help area businesses take advantage of opportunities throughout the prolonged economic recovery.   Deputy Hightower cited three local companies (and WTCGP clients) as shining examples of international market expansion: Nielsen-Kellerman, Penn Stainless and Analytical Graphics.

Mayor of Philadelphia, Michael A. Nutter, then delivered welcoming remarks to guests, which included representatives from the city, state, and national levels of government.  This high-level collection of representatives is an example of the WTCGP’s position as the leading partner and liaison for area businesses engaged in international trade.  As the regional partner with city, state, and national organizations, the WTCGP is integral to the expansion and support of the global competitiveness of the Greater Philadelphia region. 

The Mayor’s remarks surveyed the developing competitiveness of the region, which are in part due to enterprises and advancements being made by regional organizations, a notable example of which is Drexel University and its LeBow College of Business, who co-sponsored the conference.  Efforts dedicated to new technologies will help drive the regional and national economy in recovering from the current economic crisis.  This topic was further explored by a panel of experts that highlighted key regional sectors for growth, including nanotechnology, renewable technologies, information technology, life sciences, and energy. 

The conference spotlighted China, India, and the Middle East as global markets that are increasingly becoming key global arenas for trade throughout the rebound.  The current and future economic, infrastructure, and political landscapes for trade in these markets were discussed as key market intelligence for businesses to consider in developing their international strategies.  Similarly, the WTCGP is constantly dedicated to providing programs, such as the 7th Annual Global Business Conference, that bring to light the need for and the opportunities of global trade as a critical to the region’s prosperity. 

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