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SA Firms to Benefit from Executive Order Speeding International Trade

 
SA Firms to Benefit from Executive Order Speeding International Trade
Posted February 20th, 2014 @ 6:57am by Jim Forsyth

San Antonio's economy stands to be a big winner from an executive order signed by the President during his current visit to Mexico, which will update international trade rules, 1200 WOAI news reports.

 

  The order requires that government agencies which regulate trade update their regulations, which in many cases requires paperwork to be filled out on paper forms instead of on line.

 

  Robert McKinley, who heads the UTSA Institute for Economic Development, says small business will be the biggest beneficiary of this development, because large companies have armies of lawyers and other executives who can easily cut through the clutter of current trade regulations.

 

  "Time is money, when you reduce costs, our goods are more competitive to be able to sell," McKinley said.

 

  The executive order is the latest in a series of measures taken by the President to move action items forward in the face of an increasingly polarized Congress.

 

  "The large multi national corporations will not much be affected by this because they have armies of lawyers," McKinley said.  "The small and medium sized exporters, which is most San Antonio companies, currently have to figure out these regulations on their own."

 

  The White House says the purpose of the executive order is to streamline U.S. international competitiveness.

 

  McKinley says what is happening is that competitors are emerging to trade with Mexico and other Latin American countries, which used to exclusively trade with the U.S.

 

  "China and Asia are entering into Latin America in a big way, and if we handcuff ourselves, that holds us back," he said.

 

  The U.S. and especially energy rich Texas, is rapidly becoming a world trade powerhouse.  Texas exports skyrocketed in 2012, and, for the first time ever, Texas is the number one tech exporting state in the country, surpassing California.

 

  The natural gas boom is also helping fuel a manufacturing resurgence in Texas, which is enabling the state to export even more items to more places.

 

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