A move, which could benefit countries like India, the US Commerce Secretary, Gary Locke, has issued instructions for review of its exports control.
This is aimed at increasing America's business in the world market.
"I have instructed Commerce's Bureau of Industry and Security to initiate a review of our export controls," Locke said in his address to the Washington International Trade Association Annual Dinner.
"The review will focus on improving the system by targeting our controls at those state and non- state actors who would seek to do us harm, while ensuring that the traditional control lists keep pace with technological developments," he said.
"Most important, I have asked the Bureau to consider new ways to make the system more responsive, transparent, and efficient to reflect the realities of the global marketplace," Locke said.
Commerce Secretary said the Obama Administration, as part of its effort to identify economic fundamentals, has identified five priorities to improve America's trade fundamentals.
These include, enhancing trade promotion and the support the government provides to US exporters; pursuing visa reform; undertaking a review of export controls; strengthening international intellectual property protections and promoting more intergovernmental cooperation in support of US exporters.
Locke said the Obama Administration has already begun to implement programs that will reduce the export licensing burden on US companies.
"For example, earlier this year, I announced the first Validated End User in India," he said.
"The VEU program was designed to facilitate high technology trade in India and China by enabling certain items to be transferred without an individual export licenses. But much more needs to be done," he argued.
"Of course, Commerce is not just concerned with helping American companies get their products into foreign markets. Once they get there, we want to ensure they receive the same rigorous intellectual property protections that they would at home," he said.
Despite America's remarkable dependence on innovation for future growth, the current system for protecting US intellectual property — both domestically and internationally — is fraying at the seams, he observed.
Every year, American companies in fields as diverse as energy, technology, entertainment and pharmaceuticals lose between $200-$250 billion to counterfeiting and piracy. "That is simply unacceptable," Locke said.
