BOSTON – Santander Bank NA this month announced it has signed an agreement with the U.S. Department of Commerce to increase awareness among U.S. businesses about international trade.
The memorandum of agreement with the department’s International Trade Administration division was signed with the understanding that Santander would focus on educating the public about trade activities, job creation and growth strategy in the global marketplace, according to a press release.
“This partnership with the International Trade Administration is one more way in which Santander can educate companies about doing business overseas,” said Michael A. Lee, executive vice president of managing commercial banking at Santander. “Santander is a local bank with a global parent and the Santander Group is an industry leader in international banking.”
Santander and the administration are focusing on helping U.S. business becoming more “export savvy,” according to the release.
“Last year, the United States exported $2.35 trillion in goods and services – the fifth consecutive year that American businesses set a record for exports,” said Ken Hyatt, deputy undersecretary of commerce for international trade, in a statement. “With more than 95 percent of potential customers living outside the United States, it is imperative that American companies of all sizes consider the benefits of selling their products abroad.”
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