Commercial diplomacy is central to our foreign policy, as outlined in the December 2017 National Security Strategy. In order to better assist U.S. companies to secure export and investment opportunities overseas, the Departments of State and Commerce, in collaboration with other economic and development focused U.S. government agencies, are rolling out Embassy Deal Teams (Deal Teams) at our overseas missions.
Deal Teams are working groups of interagency officers and staff at our overseas posts focused on helping U.S. companies do business in their markets. The purpose of the Deal Team Initiative is to support U.S. companies already pursuing deals abroad and to identify new deal prospects for interested U.S. companies. Deal Teams are an important tool in implementing commercial diplomacy and they already exist in many posts.
The DC Central Deal Team (DCC) is a consultative body of the U.S. economic interagency in Washington, DC. It was created to mobilize the resources of the U.S. government to help U.S. companies win business abroad and to advance U.S. strategic commercial interests. It supports and facilitates the work of the Deal Teams at posts, coordinates among the participating U.S. government agencies to help assemble support packages to assist U.S. companies, identifies key economic sectors abroad in which to support involvement by U.S. companies, responds to strategic commercial challenges, and facilitates commercial discussions with allies.
On February 18, State Department Under Secretary Keith Krach and Commerce Acting Under Secretary Joe Semsar chaired the first DC Central Deal Team meeting at the State Department.
Deal Teams are a powerful tool because they bring together the collective programs, resources, and expertise of the U.S. government. The U.S. government agencies that will be represented in the Deal Teams include The Departments of Agriculture, Commerce, Defense, Energy, State, Transportation, and Treasury; the United States Agency for International Development (USAID), the U.S. Trade and Development Agency (USTDA), the Export-Import Bank of the United States (EXIM), the U.S. International Development Finance Corporation (DFC), and the Millennium Challenge Corporation (MCC).
Social Media: Follow the conversation on Twitter using #DealTeams.