International Trade Administration and Minority Business Development Agency Sign Collaborative Statement to Increase Support for Underserved U.S. Businesses

FOR IMMEDIATE RELEASE
Thursday, September 26, 2024
Contact: Office of Public Affairs
Email: [email protected]
Phone: 202-482-3809

WASHINGTON, D.C. - Today, Under Secretary of Commerce for International Trade Marisa Lago and Deputy Under Secretary of Commerce for Minority Business Development Eric Morrissette signed a joint statement on strategic and operational collaboration to strengthen coordination between the International Trade Administration (ITA) and the Minority Business Development Agency (MBDA) in support of underserved U.S. businesses.

"Equity lies at the core of ITA's work to advance inclusive economic opportunity and to ensure that the benefits of international trade are broadly shared," said Under Secretary Lago. "I'm thrilled that ITA and MBDA are further deepening our collaboration, especially at regional and local levels, to connect U.S. minority businesses with ITA's top-notch trade promotion resources and services to help these businesses become more competitive globally."

"The missions of the Minority Business Development Agency and the International Trade Administration are inherently intertwined in their dedication to equity in the business world, both at home and across the globe," said Deputy Under Secretary of Commerce for Minority Business Development Eric Morrissette. "I am confident this collaboration will strengthen our mission through improved local and regional access to resources, and with it, a more equitable business economy for all. "

The joint statement outlines several collaborative efforts, including establishing shared mechanisms for client referral to increase support for U.S. businesses; cross-training initiatives for ITA and MBDA staff to strengthen export counseling capabilities; and collaboration on public engagement and outreach events, including MBDA participation in the SelectUSA Investment Summit to promote foreign direct investment opportunities in underserved U.S. communities.

Promoting equity across the federal government is a core priority of the Biden-Harris Administration and the Department of Commerce. To learn more about ITA's work to increase engagement with and support for underserved U.S. business communities, visit the Global Diversity Export Initiative webpage on trade.gov.

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About the International Trade Administration
The International Trade Administration (ITA) at the U.S. Department of Commerce is the premier U.S. Government resource for American companies competing in the global marketplace. Operating in more than 100 U.S. locations and 80 markets worldwide, ITA promotes trade and investment, assists U.S. businesses and workers to export and expand globally, and ensures fair trade and compliance by enforcing U.S. trade laws and agreements. For more information on ITA, visit www.trade.gov.

About the U.S. Minority Business Development Agency

The U.S. Department of Commerce, Minority Business Development Agency (MBDA) is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority business enterprises (MBEs). For more than 50 years, MBDA's programs and services have better equipped MBEs to create jobs, build scale and capacity, increase revenues, and expand regionally, nationally, and internationally.