Press Release Summary:
Conducted as public-private partnership over next 3 years with Commerce's International Trade Administration, Market Development Cooperator Program involves informational events on wide range of issues with counterparts in 9 Latin American countries that have negotiated or are in the process of enacting free trade agreements with U.S. One-third of program's budget will cover standardization, certification, energy efficiency, environmentally conscious design, and counterfeiting.
Original Press Release:
NEMA Wins Commerce Department Award in Support of Outreach Initiative
NEMA is once again a winner of the U.S. Department of Commerce's Market Development Cooperator Program competition. The association's program, which will be conducted as a public-private partnership over the next three years with Commerce's International Trade Administration (ITA), involves informational events on a wide range of issues with counterparts in nine Latin American countries that have either negotiated or are in the process of enacting free trade agreements with the United States. One-third of the program's budget will be provided by ITA to cover such subjects as standardization, certification, energy efficiency, environmentally-conscious design, and counterfeiting.
The countries to be addressed by the new initiative include the Dominican Republic, Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua, all of which are parties to the "DR-CAFTA" agreement that was ratified by the U.S. Congress in 2005. (DR-CAFTA has entered into force with all of these countries with the exception of Costa Rica, which has yet to ratify it.) Further, the initiative will address Panama, Peru, and Colombia, with which the United States has negotiated free trade agreements that have yet to be ratified by the U.S. Congress.
"This is an important victory for the U.S. electrical equipment industry, and we look forward to working with the Commerce Department to promote greater cooperation with our neighbors on critical areas of common concern," noted NEMA President and Chief Executive Officer Evan Gaddis. "These countries are already surprisingly important export markets and trading partners for our members, with the new free trade agreements auguring significant new trade and crucial economic development in the region."
NEMA earlier won two Market Development Cooperator Program awards that supported the opening of the association's offices in Mexico City, Sao Paulo, and Beijing, which continue to assist subscribing member companies with their activities in these countries.
NEMA is the trade association of choice for the electrical manufacturing industry. Founded in 1926 and headquartered near Washington, D.C., its approximately 450 member companies manufacture products used in the generation, transmission and distribution, control, and end-use of electricity. These products are used in utility, medical imaging, industrial, commercial, institutional, and residential applications. Domestic production of electrical products sold worldwide exceeds $120 billion. In addition to its headquarters in Rosslyn, Virginia, NEMA also has offices in Beijing, Sao Paulo, and Mexico City.