AAEI Issues "The Innovation Economy for America" Policy Paper

The American Association of Exporters and Importers (AAEI) has isssued a policy paper entitled “The Innovation Economy for America.” The paper, which was sent to all members of Congress last week, contains a series of ideas that, if adopted, would according to AAEI "greatly increase the likelihood that the next great company with innovative technology and products will be created in the United States and thrive in the global marketplace."

"Our leaders need to better understand what innovation really is," said AAEI President and CEO Marianne Rowden, who authored the document. "Innovation can take many forms now, from new products to new processes. If Congress can improve the business environment for our cutting-edge innovators, then it will have tilled the soil from which new ideas can propel the future of our economy."

The document describes the following four policy areas that will foster innovative thinking and invention:

1. Creating an Environment that is Conducive to and Protects Innovation

2. Implementing These Small and Medium Size Business Enterprises Initiatives and Priorities

• Completing Free Trade Agreements with Colombia, Panama and Korea
• Help Small and Medium Size Business Navigate U.S. Export Controls by providing assistance through the U.S. Small Business Administration and the U.S. Department of Commerce
• Expand Export Financing Opportunities for SMEs

3. Promoting Exports by

• Enacting Duty Drawback Simplification
• Streamlining Export Controls

4. Lower Transaction Costs for Business by

• Passing the Miscellaneous Trade Bill (H.R. 4380)
• Finishing the Automated Commercial Environment (ACE) and International Trade Data System (ITDS)
• Economizing Homeland Security Costs (including C-TPAT, CCSP)
• Harmonizing and Recognizing Authorized Economic Operator Programs
• Promoting International Standards Setting Bodies
• Enacting an Exclusive Forum for Trade-Related Disputes by passing a bill to expand the jurisdiction of hte U.S. Court of International Trade
• Eliminating and Reducing User Fees