Expanding Trade

The ability to create new jobs and investment has become increasingly linked to exports and the expansion of global markets. This expansion must continue if New Mexico is to maintain its competitive advantage. New Mexico has much more to gain by joining the world economy than by withdrawing from it.

New Mexico Economic Development Department's Trade Division
The New Mexico Economic Development Department specializes in international trade with several offices in Mexico and representatives that deal with trade in Europe, Asia, and the Americas.

United States Trade and Development Agency
The U.S. Trade and Development Agency promotes national exports by financing feasibility studies for companies searching for new export markets.

The SBA Export Working Capital Program
The Small Business Administration's Export Working Capital Program (EWCP) is designed to help small businesses obtain working capital to carry out their export sales. The EWCP encourages lenders to "bank" small business exporter deals by reducing the associated risk.

International Trade Loan Program
The Small Business Administration's International Trade Program provides long-term financing to small businesses to compete in the global marketplace. Small businesses may use funds to buy land or buildings, renovate existing facilities, or recondition existing machinery.

New Mexico Manufacturing
New Mexico Manufacturing is a full-service support system for manufacturers that was founded in 1994 as a Manufacturing Technology Center affiliated with the National Institute of Standards and Technology. NMM's mission is to improve the productivity and global competitiveness of manufacturers in our geographic area by providing, business, technical, engineering, and international services.

Small Business Development Centers New Mexico is home to 17 Small Business Development Centers. These facilities lead a cooperative effort between the SBA, institutions of higher education, the private sector, and state and local governments. The facilities are located in 15 cities and towns across the state.

Department of Commerce Export Assistance Programs

Trade Information Center
The Trade Information Center provides a comprehensive resource for information on all federal government export assistance programs. The center is staffed by international trade specialists who advise exporters on how to best use government programs. These counselors also provide general market information and export counseling.

Foreign Trade Zones The foreign trade zone program reduces or eliminates the tariffs in defined geographic areas. These zones are valuable to companies that import parts or supplies from abroad for the manufacturing of their products and then export the finished product.

Overseas Private Investment Corporation
The Overseas Private Investment Corporation (OPIC) is an independent federal agency that provides financing insurance to U.S. companies that invest in emerging market economies. OPIC's efforts make U.S. businesses more competitive, increase sales abroad and further the national export strategy.

Economic Development Administration
EDA assistance is available to rural and urban areas of the nation experiencing high unemployment, low-income levels, or sudden and severe economic distress. In fulfilling its mission, the Economic Development Administration is guided by the basic principle that distressed communities must be empowered to develop and implement their own economic development and revitalization strategies. Based on these locally and regionally developed priorities, the Economic Development Administration works in partnership with state and local governments, regional economic development districts, public and private nonprofit organizations, and Indian tribes.

Export Assistance Center
Expanding markets in Asia and Latin America, coupled with European demand for American products, make it essential that the United States remain continually active in the world trade arena. Export Assistance Centers, established by the Department of Commerce, meet this growing challenge by coordinating the efforts of state programs, federal initiatives and local banks.

Export-Import Bank
The Export-Import Bank provides export financing for companies across the country through a variety of loan guarantees and insurance programs. To support U.S. trade, the Ex-Im Bank provided over $15 billion in loans, guarantees and insurance in 1994.

Working Capital Guarantee Program
The Export-Import Bank and the Small Business Administration have blended their working capital programs in an effort to encourage commercial lenders to make loans to U.S. businesses for export-related activities.

Export Credit Insurance Programs
The Export Credit Insurance program helps U.S. exporters develop and expand their overseas sales by protecting them against loss should a foreign buyer or other foreign debtor default for political or commercial reasons.

Project Finance Program
All U.S. exporters are eligible to apply for the Export-Import Bank's project finance program. The program is designed to provide assistance in the form of direct loans and loan guarantees for projects whose repayment depends on project cash flows.

Finance Guarantee Program
Banks, other lenders, and large exporting companies financing their own transactions can utilize the Ex-Im Bank's financial guarantee program to assure themselves of repayment on fixed- or floating-interest rate export loans. The program helps large exporters finance their export of U.S. goods and services by providing 100 percent coverage, of both principal and interest owed.

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