Emphasizing the administration's interest in expanding America's global trade prospects, President Obama has proclaimed this week, May 17- May 23, as World Trade Week. This announcement follows the recent release of the president's trade policy agenda.

For the dairy industry, export-oriented growth is critical. Although the U.S. industry has the infrastructure, technology and resources to be a world supplier of manufactured dairy products, only 10 percent of domestic fluid milk production is exported.

"IDFA has consistently pinpointed international trade as the one of the best ways to expand markets for U.S. dairy products," said Clay Hough, IDFA senior group vice president. "World Trade Week is a good start to educating the public about the benefits of U.S. exports and open markets overseas.

During World Trade Week, the administration will emphasize the benefits and opportunities that global trade provides, such as job creation and growth, decreased consumer costs, more innovative products and advancements in green technology. This activity is designed to improve the negative perception that surrounds global trade.

Paves the Way for Trade Agenda

The president's trade agenda highlights policy-oriented avenues for increased global trade, advocates the passage of pending bilateral trade agreements and calls for the revival of the Doha Development Round. IDFA has consistently encouraged the successful completion of the Doha Round and bilateral free trade agreements with Panama, Colombia and South Korea. Because these countries are key target export regions, the trade pacts will offer enhanced business opportunities for domestic dairy processors. U.S. dairy exports to Panama, South Korea and Colombia have consistently increased since 2004, with combined export values totaling over $136 million in 2008.

Coinciding with World Trade Week, IDFA is launching a new "Trade News" page on its website. This biweekly web update will provide a concise compilation of current trade happenings, allowing members to get quick and clear information about key trade issues and their impact. Today's news covers completed and pending U.S. Free Trade Agreements at a glance.