The trip provided an opportunity for Commerce’s MBDA to help push forward on the Obama administration’s National Export Initiative (NEI) by fostering greater access to emerging markets in Brazil for minority business enterprises. Helping the administration achieve its NEI goal of doubling exports by the end of 2014 is a top priority for MBDA, because more exports mean more jobs. Through the NEI, MBDA is thinking strategically about the sectors and markets that give America’s minority businesses a comparative advantage globally. Brazil is one of those key markets.
During the trip, Director Hinson met with Brazil’s Ministry of Foreign Relations and Brazilian business owners to discuss how MBDA can help U.S. minority-owned businesses enterprises (MBEs) improve their return on investment through strategic partnerships and gain access to the unprecedented opportunities in the United States and Brazil—the two largest economies in the Western Hemisphere.
Hinson also met with Brazil’s Federal Minister of Sports to discuss sports contracting opportunities for U.S. MBEs. Brazil is host to several international sporting events, including the 2013 FIFA Confederations Cup the 2014 World Cup, and the 2016 Olympic Games and expects to invest $106 billion in the preparations for these events. The investments include expenditures for infrastructure, construction, transportation systems, port improvements, public security, and airport upgrades and will present significant commercial opportunities for U.S. companies.
In 2011, the U.S. and Brazil signed a memorandum of understanding on major global sporting events to establish a partnership in advance of the 2014 World Cup and 2016 Olympic Games. Brazil is an important trading partner for the United States and both countries are committed to deepening their commercial ties and enhancing their global competitiveness.
There are many global business opportunities for U.S. minority entrepreneurs in Brazil and beyond. To learn more about these opportunities, please visit our website, www.mbda.gov and follow our Twitter account @usmbda.
David Hinson traveled to Brazil as a member of a Federal interagency delegation on the U.S.-Brazil Joint Action Plan to Eliminate Racial Inequality led by Special Representative on Global Intergovernmental Affairs Reta Jo Lewis from the U.S. Department of State.