House Passes Larsen Provision to Help WA State Small Businesses Export to Asia

Sep 4, 2007

September 4, 2007

Washington, D.C. - The House has passed an amendment authored by U.S. Rep. Rick Larsen that directs the Small Business Administration’s Office of International Trade to develop an annual plan to help U.S. small businesses export goods and services to the Asia-Pacific Region.  Larsen added this provision to the Small Business Administration’s Trade Programs Act of 2007 (H.R. 2992) when it was marked up by the House Small Business Committee in July.   The bill passed the House today by voice vote.

“China is the number one foreign market for Washington state products,” said Larsen, a member of the House Small Business Committee and co-chair of the U.S.-China Working Group. “This legislation will direct the Small Business Administration to develop a plan so more small and medium-sized businesses can get a foot in the door in the Asia-Pacific region.  Selling more Washington products around the world means more jobs at the business down the street and a stronger economy here at home.”

The Asia-Pacific region presents a growing export opportunity for Washington small businesses, and China’s growing middle class represents a huge potential market for Washington products. In 2006, 60% of U.S. exports went to countries in the Asia-Pacific region and U.S. exports to China increased by 24% during the past year.  Yet many U.S. small businesses continue to face obstacles in identifying new markets, raising the capital they need to take advantage of these markets and understanding and overcoming barriers to entry such as regulations that vary from country to country.