CIBER: Interview with Walter P. Bastian

Walter P. Bastian discusses the role of international trade in U.S. economic growth. Bastian, Deputy Assistant Secretary for the Western Hemisphere, U.S. Department of Commerce, talks about improvements in education to foster economic growth, such as a greater focus on science and math. He also describes specific Commerce education programs including partnerships between college students in Maryland and Uruguay and support for One Laptop Per Child in Latin America. Bastian emphasizes the need for business school graduates who understand the importance of trade. Next, Bastian discusses small businesses, which create most jobs in the U.S. Commerce is helping these businesses export to Canada and Mexico, our two largest export partners. Bastian describes the unique challenges for small businesses working abroad, including legal issues and transparency. He also notes that the U.S. must take advantage of emerging markets such as Brazil and maximize the benefits of existing free trade agreements. Bastian briefly discusses technological changes that have affected international trade, such as videoconferencing. He speaks about the importance of corporate social responsibility for U.S. companies engaged in international business, and he notes the great value that U.S. companies offer in their relationships with Latin American countries, in terms of exports, corporate social responsibility, and foreign aid. Last, he describes the resources Commerce offers to all businesses interested in international trade.