U.S. Commercial Service previews September 20-22 export forum
The growing demand for marine technologies is generating new export possibilities for U.S. companies. To help American businesses pursue these opportunities, the Department of Commerce is hosting Discover Global Markets: The Blue Economy, in Providence, R.I., Sept. 20-22, 2022. International Trade Specialist Maryanne Burke leads the Marine Technology Team of the International Trade Administration (ITA). Maryanne is part of ITA’s U.S. Commercial Service’s global network of offices located in 100+ cities across the United States and in U.S. embassies and consulates in more than 75 markets. In the below Q&A, she shares some insights on how U.S. companies can take advantage of the Blue Economy event and agency export resources to expand their export horizons.
We’re seeing a new age in ocean technology, sustainability and logistics, and Discover Global Markets: The Blue Economy will highlight growing overseas market opportunities for U.S. businesses in the marine technology sector. Like no other event, the Sept. 20-22 forum brings together U.S. businesses, foreign buyer delegations, and U.S. Commercial Service marine industry experts from 20 countries. Through export counseling and business-to-business (B2B) matchmaking, U.S. businesses can benefit from market intelligence, trade leads, partnering opportunities, and potential export sales. It’s an excellent venue for exporters to both grow their bottom line with export sales and improve their competitiveness by diversifying into new markets. Discover Global Markets events, held annually, focus on different industries and regional markets. During its ten-year history, the series has attracted thousands of U.S. business participants resulting in millions of dollars in export sales.
We’ll have a strong geographic presence, representing a truly global showcase. U.S. companies will gain market insights from U.S. Commercial Service industry experts from U.S. embassies around the world, including: Australia, Brazil, Canada, France, India, Indonesia, Italy, Japan, Korea, Mexico, Singapore, Spain, the Netherlands, Norway, Thailand and the United Kingdom, as well as many others. These markets represent some of the best growth prospects in the marine technology sector, offering both short and long-term industry opportunities for U.S. companies.
Overall, marine technologies are in demand for both large-scale foreign government projects and independent, non-government organization projects. Opportunities are wide-ranging, covering port development and technologies, underwater surveillance, subsea imaging for ocean floor mapping, offshore wind ecosystems, weather instrumentation, ocean science and exploration. Another focus is clean “smart” technology for use in marine transportation.
In many cases, growth and demand abroad is higher than in the U.S. domestic market. For example, some parts of Europe have a strong interest in port development, while in the Indo-Pacific, countries are looking for the latest technologies to monitor coastal flooding. More and more, we’re seeing growing opportunities driven by evolving global trends in technology, demographics, and sustainable development.
Examples of market opportunities include:
The U.S. Commercial Service is the trade and investment promotion arm of the U.S. Department of Commerce’s International Trade Administration. Through our in-country presence at U.S. embassies abroad, our trade experts have in-depth market knowledge and connections to buyers of U.S. products and services, as well as market expertise in the marine technology sector. And so, we bring these skillsets to the show, along with several foreign buyer delegations.
Our value is knowing the key players and opportunities to bring U.S. businesses and prospective foreign buyers together. We do this by arranging business-to-business (B2B) matchmaking meetings based on their mutual needs and interests. Because the U.S. Commercial Service screens buyers in advance, we know they are interested in U.S. marine technologies and ready to do business. This arrangement is a real advantage for U.S. exporters, particularly for small and medium-sized businesses, compared to searching for suitable foreign business partners interested in marine technologies on their own.
Through networking opportunities, U.S. businesses will hear from original equipment manufacturers (OEMs) and prime contractors about overseas projects and their supplier needs, participate in general networking activities, and learn about U.S government export programs.
Businesses attending previous Discover Global Markets events have noted several benefits of the two-day event. Among these are the time and resources saved from having to travel to meet contacts, new leads generated, insights gained for honing export strategies, and obtaining real-time market information from experts to understand in-depth, what is going on internationally beyond what is seen in the media.
On the Blue Economy registration form, a U.S. company enters their information into a database platform about their product or service and the markets they are looking to sell to. About a month ahead of the event, participants can search the database to identify potential partners and arrange matchmaking meetings. U.S. businesses can also arrange meetings at the event. U.S. Commercial Service industry experts will also be facilitating B2B meetings on the conference floor.
Contacting the U.S. Commercial Service is a great place to start. Our trade specialists can help develop a customized export strategy that identifies priority markets with the strongest potential for export success. For more information on our services and events, visit the Marine Technology Team website trade.gov/marine-technology-industry, or your contact your local U.S. Commercial Service office at trade.gov/commercial-services-offices-us.
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