LAGCOE receives Presidential Award for export service
May 17, 2016
U.S. Secretary of Commerce, Penny Pritzker, has presented LAGCOE (Louisiana Gulf Coast Oil Exposition) with the President's 'E' Award for Export Service at a ceremony in Washington, DC. The President's 'E' Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports.
In her congratulatory letter to the company announcing its selection as an award recipient, Pritzker said, "LAGCOE has demonstrated a sustained commitment to export expansion. The 'E' Awards Committee was very impressed with LAGCOE's work to promote sales opportunities for oil and gas companies in international markets. The company's extensive support of matchmaking activities was also particularly notable. LAGCOE's achievements have undoubtedly contributed to national export expansion efforts that support the U.S. economy and create American jobs."
LAGCOE, located in Lafayette, Louisiana, is a non-profit organization which supports the stability and growth of energy companies (in the U.S. and globally) through a biennial exposition and conference and ongoing programs. LAGCOE's presentations, receptions, luncheons and programs promote education about new technologies and ventures, and provide invaluable opportunities for energy companies to display their products and network with potential buyers.
Angela Cring, executive director, LAGCOE, said, "We are thrilled to receive this recognition of our hard work in assisting U.S. companies with their international business development efforts; reducing barriers to foreign markets and opening the door to more trade around the world. The combined efforts of our international committee, LAGCOE volunteers, staff and community partners play a major role in effectively serving our companies. We look forward to continuing to grow our international business development programming to further assist energy companies with export efforts."
LAGCOE has increased the focus on international expansion annually since 2003 and has been selected to participate in the Department of Commerce International Buyer Program since 2007. Statistics from LAGCOE's most recent biennial exposition tracks increasing efforts to support U.S. companies' export success. As a result of this extensive outreach, countries with international buyers attending LAGCOE grew from 26 in 2011 to 40 in 2015. At the most recent exposition in 2015, international buyers from 40 countries attended LAGCOE and 71 counseling sessions were held with 28 U.S. companies. Additionally, 95 international companies met in 286 business-to-business meetings with U.S. exporters.
In 1961, President Kennedy signed an executive order reviving the World War II 'E' symbol of excellence to honor and provide recognition to America's exporters. Secretary Pritzker honored 123 U.S. companies with the President's 'E' Award for their outstanding work to reduce barriers to foreign markets and to open the door to more trade around the world.
In 2015, U.S. exports totaled $2.23 trillion, accounting for nearly 13 percent of U.S. GDP. Nationally, exports contributed to the U.S. economy, supporting an estimated 11.5 million jobs.
U.S. companies are nominated for the 'E' Awards through the Department of Commerce's U.S. Commercial Service office network, located within the Department's International Trade Administration, with offices in 108 U.S. cities and more than 70 countries. Criteria for the award is based on four years of successive export growth and case studies that demonstrate valuable support to exporters, resulting in increased exports for the company's clients.
For more information about the 'E' Awards and the benefits of exporting, visit www.export.gov.