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SBA Signs Memorandum of Understanding with International Trade Administration and Republic of Turkey
WASHINGTON – Marie Johns, Deputy Administrator of the U.S. Small Business Administration, today signed a tri-partite Memorandum of Understanding with the Department of Commerce’s International Trade Administration (ITA) and the Republic of Turkey’s Small and Medium Enterprises Development Organization (KOSGEB) to encourage collaboration to assist small and medium-sized businesses with international trade opportunities.
The MOU, signed during a luncheon held today at the 29th National Minority Enterprise Development (MED) Week conference will enhance and improve cooperation between the participants.
This year’s MED Week conference is focused on helping minority small businesses expand their operations and establish a presence in the global marketplace while helping them weather the current economic climate in the U.S. The theme for this year’s MED Week event is “Emerging Industries & Markets: A Blueprint for Success,” and it is co-hosted by the SBA and the U.S. Department of Commerce’s Minority Business Development Agency.
“We recognize the significant role that small and medium-sized businesses play in driving national economic prosperity,” said SBA Administrator Karen Mills. “We are entering into this important partnership between the U.S. and Turkey to encourage the exchange of information, including best practices, networking and international trade opportunities for small businesses.”
The roles of each of the participants in the partnership agreement include:
- The International Trade Agency intends to: coordinate digital video conferences with the SBA and KOSGEB to provide information, share best practices and promote international trade among small businesses;
- The SBA intends to: organize briefings for KOSGEB and representatives of Turkey about SBA’s loan guarantee and technical assistance programs, participate in an exchange of experts for training and knowledge-sharing purposes, explore meeting opportunities for U.S. and Turkish businesses and provide KOSGEB with information on SBA’s approaches to promoting opportunities for small business;
- KOSGEB intends to: share knowledge and experience about policies, measures and applications, exchange data and publications about small and medium-sized businesses, host an exchange of experts for knowledge-sharing purposes, organize networking events, mutual business trips to enhance the cooperation between both countries’ small and medium-sized businesses, and encourage and support establishment of ‘Business Matching Centers’ to improve the trade volume of both countries.
All of the participants plan to share relevant information and best practices on innovation, entrepreneurship and export promotion, and international trade relating to small and medium-sized businesses.