Expanding Exporter Access to Trade Finance is Focus of New Advisory Council
The Department of Commerce has established a Trade Finance Advisory Council to advise it on the development of strategies and programs to help expand access to trade finance for U.S. exporters, especially small and medium-sized enterprises, and their foreign buyers. This committee will focus on the challenges faced by U.S. exporters in accessing capital, innovative solutions that can address these challenges, and recommendations on programs and activities that the DOC could incorporate as part of its export promotion and trade finance education efforts.
DOC is also seeking nominations for membership on this council no later than Aug. 22. There will be no more than 20 members that may be drawn from the following.
- U.S. companies that are exporters of goods and services
- U.S. commercial banks and non-bank U.S. financial institutions that provide trade finance products, cross-border payment services or foreign exchange solutions
- associations that represent (a) U.S. exporters and SMEs and (b) U.S. commercial banks or non-bank financial institutions or other professionals that facilitate international trade transactions
- U.S. companies or entities whose business includes trade-finance-related activities or services
- U.S. scholars, academic institutions or public policy organizations with expertise in global business, trade finance and international banking related subjects
- economic development organizations and other U.S. regional, state and local governmental and non-governmental organizations whose missions or activities include the analysis, provision or facilitation of trade finance products/services
Membership will include a broad range of companies and organizations in terms of products and services, company size, and geographic location of both the source and destination of trade finance. Priority may be given to candidates who have executive-level (CEO, executive chairman, president or comparable level of responsibility) experience. A member serving as an expert must not be a federally registered lobbyist.