ABJ - November 11 - U.S. Commerce Secretary John Bryson and Michael Ducker, FedEx Executive Vice-President and COO, have announced a new effort, known as the Global Buyers Initiative (GBI), designed to help U.S. small- and medium-sized businesses reach more markets and sell more products and service overseas.

Today, more than 276,000 U.S. small- and medium-sized firms export. However, 58 per cent export to only one market. The GBI will help identify experienced foreign buyers and help to connect these markets to U.S. suppliers.

“This is a first-of-its-kind program,” Bryson said. “Partnerships like the one we’re announcing today with FedEx ensure that companies reach buyers, make sales, and put more Americans back to work.”

FedEx, which will pilot the program, will seek out experienced importers in National Export Initiative-focused markets and sectors that have traditionally not sourced products or services primarily from U.S. businesses.

Once a specific buyer with a specific need is identified, Commerce will help connect them with a U.S. supplier and let the importer overseas know what Commerce Department resources are available to help them.

The Commerce Department, with its network of trade and commercial specialists posted in more than 100 U.S. cities and 71 countries, and FedEx with its global team interacting with clients worldwide, are a significant resource for assisting U.S. firms in their export endeavors.