U.S. officials preach global trade to minority-owned businesses in Houston
Work to expand the port's imports/exports have increased and bolstered trade in Houston since the expansion of the Panama Canal in 2016.U.S. trade officials were in Houston on Wednesday as part of an initiative to bolster exports for area businesses, particularly small businesses and thoseSuch businesses, trade officials said, will be integral to the broader U.S. economy, which took a severe hit during the COVID-19 pandemic and ongoing supply chain issues and inflation.
Others want to increase exports, but said it has been difficult to find capital. The Wednesday event gave local business owners the opportunity to meet with officials from local banks and various chambers of commerce, as well as learn about resources offered through the. Among them: The ITA’s risk management and insurance programs, which businesses can use to resolve nonpayment from foreign businesses, protect intellectual property and increase cash flow — all backed by the U.S. government.
Trade officials said Wednesday they were confident that the region would continue that trend, and framed the pandemic as a potential boon because it forced many businesses to reassess their presence on online marketplaces that can increase exports and overall e-commerce.
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