USDA's Under Secretary for Farm and Foreign Agricultural Services Jim Miller told the U.S. Grains Council Board of Delegates at its 50th annual meeting that the U.S. has been in an enviable position with its ability to post an ag trade surplus year after year. He says the trend will continue in the 2010 fiscal year when the ag trade surplus is projected to be nearly $28 billion. That would be the second largest in history. Miller states the agriculture trade recovery from the economic downturn is well underway, with ag exports estimated to reach $104 billion this year.
Miller says exports are key to growing the economy and aiding the economic recovery because jobs will be created when exports increase; that is why the Obama Administration has launched the National Export Initiative with a goal of doubling exports by 2015. He says there are four areas in ag where a renewed effort will pay dividends, one being market development programs like those by USGC. A budget request for increased market development funds has been sent to Congress according to Miller, and he says USDA will be aggressive in making sure those funds are used in a way that allows efforts to maximize.
Miller also states that bilateral and multilateral trade talks are important aspects that will benefit agriculture along with ensuring the enforcement and compliance of current trade agreements. He says ag trade is dependent on the ability to market products that come from new technology and that biotechnology is at the forefront of that agenda. Another way to boost ag exports Miller states is in the effort to help educate people, build infrastructure and promote free and open markets through the global hunger and food security initiative.
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