Sept. 15, 2015—U.S. Under Secretary of Commerce for International Trade Stefan M. Selig made the announcement last week that the Auto Care Association will receive $299,345 for the International Trade Administration's (ITA) Market Development Cooperator Program (MDCP).
The funds will be used to help the automotive industry produce exports to Chile, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Peru. These funds are expected to generate an expected $55 million in exports over the next three years by companies across the U.S.
“With 96 percent of the world’s consumers living outside of our borders, exporting is a sure path to growth, prosperity and good-paying jobs.” Selig said. “The Auto Care Association recognizes the positive impact exporting can have on the bottom line for their member organizations. MDCP awards to groups like the Auto Care Association are part of President Obama’s government-wide strategy to strengthen America’s economy by increasing exports.”
“We are very appreciative of this award. Like many in the auto care industry, the U.S. Department of Commerce and the ITA recognize that the developing automotive market in Latin America holds tremendous export, business development and job creation opportunities for U.S. companies,” said Kathleen Schmatz, president and CEO, Auto Care Association. “We are committed to identifying and promoting business opportunities for our members globally, and this new partnership with ITA will play a central role in helping our members enter and develop market share in key export markets.”
The Auto Care Association will match the MDCP award with an investment of its own resources. Each MDCP award winner pledges at least two-thirds of the project costs and to sustain its project after the MDCP initial award period ends.
The funded project will allow the Auto Care Association to expand U.S. exports by:
- Leading outbound trade missions
- Hosting technical seminars
- Facilitating buyer-seller meetings at AAPEX
For more information on the program, visit the website.
