Caterpillar Chairman Wants U.S. to Expand Role in Selling Abroad

Oct. 10, 2011
Says 95% of the world's consumers live outside U.S. requiring American companies to service these markets to ensure U.S. job creation and economic growth.

The Business Roundtable has faith that Doug Oberhelman, CEO of Caterpillar Inc. will send the right message for its International Engagement Committee. Leading a company that excelled in exporting its goods, Jim McNerney, CEO of The Boeing Co. and chairman of the Business Roundtable, says Oberhelman is a "natural choice to serve as the voice of America' CEOs on international trade and investment."

Caterpillar's exports surged to $13.4 billion in 2010, a 30% jump from the previous year. And the company reported a 202% increase in profits for 2010.

Its most recent expansion was announced in August of this year with the construction of a wheel-loader factory and a proving ground in Tongzhou, China.

"With 95% of the world's consumers living outside the United States, expanding market access for American companies and workers to sell products and services to these customers is essential to U.S. job creation and economic growth," said McNerney.

The Business Routable, an association of chief executive officers of leading U.S. companies with over $6 trillion in annual revenues and more than 14 million employees, is known for promoting the benefits of international trade and investment. The group seeks policies that will lower barriers to international commerce and expand access to foreign markets for American goods and services. The gorup also advocates for strong enforcement of U.S. rights under existing trade and investment agreements to ensure that U.S. workers, farmers, consumers and companies are treated fairly.

"America must regain its leadership role in opening markets and creating economic growth and jobs," said Oberhelman. "Our immediate priority is final approval of the pending U.S. trade agreements with Colombia, Panama and South Korea and bipartisan Trade Adjustment Assistance legislation. However, much more needs to be done to further U.S. competitiveness in the global economy. I am committed to leading an aggressive advocacy effort for policies to boost U.S. exports, promote growth and investment in the United States and globally, and create U.S. jobs."

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