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Diplomacy in Action

Strategic Goal 5: Support American Prosperity Through Economic Diplomacy


Bureau of the Comptroller and Global Financial Services
Report
December 16, 2013

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The State Department's economic and commercial diplomacy activities promote economic prosperity and growth in the United States and abroad. The Department's efforts support the President's National Export Initiative and its stated goal of doubling U.S. exports over five years (2010-2014, as compared to 2009 level) to support the creation of jobs and help the United States recover from a protracted severe global financial economic crisis.

ECONOMIC STATECRAFT APG

Trans-Pacific Partnership.

What is TPP?

A priority initiative to promote economic recovery through increased exports and jobs, and the economic centerpiece of the Obama Administration's strategic rebalance toward the Asia-Pacific. Negotiation of the Trans-Pacific Partnership (TPP) is a cornerstone of U.S. trade policy. Japan is the newest member that joined negotiations in 2013. (Read more...)

For FY 2013, the State Department exceeded its Economic Statecraft APG by 43 percent, achieving a cumulative total of 971 "success stories." A success story is defined as an export deal achieved, dispute resolved, or foreign policy changed through Department advocacy. Overseas posts recorded 153 success stories in the FY 2013 fourth quarter: 100 export transactional deals completed, 22 commercial disputes settled, and 31 foreign economic policies changed. In addition, "outreach by missions" (not displayed) also exceeded the annual goal, with posts reporting 2,997 outreach activities this quarter, for a cumulative total of 16,016: 114 percent above the FY 2013 goal of 7,460 outreach activities.

Goal: Through our more than 200 diplomatic missions overseas, the Department of State will promote U.S. exports in order to help create opportunities for U.S. businesses. By September 30, 2013, our diplomatic missions overseas will increase the number of market-oriented economic and commercial policy activities and accomplishments by 15 percent.

Progress towards Goal Achievement: In FY 2013, the Department exceeded this APG goal of increasing the number of export deals signed, disputes settled, and/or foreign policies changed through Department advocacy by Embassy staff to U.S. businesses overseas by 43 percent.

Illustrative Indicator for Strategic Goal 5 and Economic Statecraft APG:


Number of Success Stories for Commercial and Economic Policy Advocacy Activities by Embassy Staff
  FY 2012 FY 2013
Target 640 680
Actual 775 971

Description of Indicator: This indicator measures the number of commercial and economic policy advocacy activities by embassy staff on behalf of U.S. businesses that led to the completion of transactional deals, investment dispute settlements, or resulted in foreign government economic policy changes. This two-year indicator was created in FY 2012 and data for previous years is unavailable.

Target Met/Not Met: Target Met.

Data Source: The Office of Consumer and Business Affairs in the Bureau of Economic and Business Affairs qualitative database.

In Focus.

The United States and the European Union -
Building On Our Economic and Strategic Partnership

Photo showing U.S. Secretary of State John Kerry and French Foreign Minister Laurent Fabius taking a walk on the grounds at the French Ministry of Foreign Affairs in Paris, September 7, 2013.

U.S. Secretary of State John Kerry and French Foreign Minister Laurent Fabius take a walk on the grounds at the French Ministry of Foreign Affairs in Paris, September 7, 2013. Department of State

The United States and the European Union (EU) share fundamental values of freedom, democracy, human rights, and respect for law. We work together to advance energy security, address global climate change, promote economic development, and deal with counterterrorism and security issues. A robust transatlantic economy undergirds America's ability to address global challenges and to promote global development and prosperity. In the G8, G20, the World Trade Organization, and the Organization for Economic Cooperation and Development, the United States and the EU work together to promote an open, transparent, and non-discriminatory trade and investment climate worldwide.

The U.S. economic relationship with the EU is one of the largest and most complex in the world. The partnership accounts for one-third of total goods and services traded and nearly one-half of global economic output - contributing to economic prosperity on both sides of the Atlantic. The transatlantic partnership reinforces our strong economic, political, and social ties and is a vital part of the Department's strategic goal number five to support American prosperity through economic diplomacy.

In addition:

  • The transatlantic economy is a powerful link between companies and producers, and businesses and employment opportunities.
  • In his 2013 State of the Union Address, President Obama announced his intention for the United States to negotiate a Transatlantic Trade and Investment Partnership (TTIP) with the EU.
  • TTIP offers an opportunity to boost economic growth and increase the more than 13 million American and European jobs already supported by transatlantic trade and investment.
Learn more.
For more information, please read the key policy fact sheet:
http://www.state.gov/r/pa/pl/2013/211144.htm

 




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