Nydia M. Velazquez: “International trade is a key part of our economic future, and competition in the global marketplace will only increase…”

“International trade is a key part of our economic future, and competition in the global marketplace will only increase in the years to come. Consequently, our country is facing many decisions concerning how we will engage in transnational commerce. To utilize resources effectively and secure our industry's leadership, it is critical that the Nation's trade strategy incorporates a key source of innovation in world markets, small businesses. Small businesses that generate and develop new products have shown that they can lead the way in building entire industries. They represent virtually all of the country's exporting firms, improving our trade balance and introducing U.S. products to consumers across the world. With all of their success, these firms still face barriers to maintaining domestic and international markets. As a result, although the entrepreneurs are nearly 100 percent of export firms, they generate less than one-third of revenues from these activities. Given their contributions, it is critical that entrepreneurs are considered in the Nation's trade strategy and that obstacles to their competitiveness are removed.”