Advancing Commercial Diplomacy: Global Business Briefing with Mr. Audu Besmer

The U.S. private sector is leading the way. Through the Meridian’s Corporate Council Working groups, a concerted effort to address critical issues impacting the U.S. private sector, the gap between business and government is closing. This initiative, done in partnership with the Office of Commercial & Business Affairs (CBA), drives toward a clear mandate of augmenting commercial diplomacy. Building on the momentum of last year’s Working Group Initiative and the strategic recommendations outlined in the 2024 deliverables report, Meridian was excited to welcome Mr. Besmer to discuss the evolving remit of CBA under the current administration and share key priorities leading into the summer.

Here are some top takeaways from the program:

1. Commercial Diplomacy Is a Top Priority 

Commercial diplomacy is a central pillar in the foreign policy toolkit. We’ve seen foreign partners invest hundreds of millions of dollars in overseas deals involving U.S. companies—a testament to how economic engagement and diplomacy can work hand in hand. These deals span key sectors such as clean energy, digital infrastructure, aerospace, and advanced manufacturing, highlighting the critical role of American companies in shaping the industries of the future. Commercial diplomacy is a strategic tool, not just for export promotion but for strengthening U.S. influence, competitiveness, and job creation. 

2. Economic Security is National Security

Through legislation like the Championing American Business Through Diplomacy Act, the State Department has taken a greater role in actively positioning itself as a liaison between U.S. companies and foreign governments, helping firms navigate regulatory, political, and commercial landscapes. Promoting American companies, across both recent administrations, has become a foreign policy priority. With broad-based, responsible, and sustainable economic growth driven by U.S. investment, the hope is that this will help stabilize regions and create new and growing markets for American business.

3. Investment Protection and Inward Investment Are Growing Priorities 

There is a growing focus on protecting U.S. overseas investments, recognizing that they are directly tied to domestic economic outcomes. Though the current administration does not promote outward investment, it supports U.S. companies in protecting their assets abroad. Inward investment, or foreign investment into the U.S., is one of the biggest areas of growth, with foreign service officers matching international investors with the right U.S. locations and partners. 

4. Agencies Like DFC Are Essential but Need Reform

The Development Finance Corporation (DFC) is a key player in enabling U.S. companies to compete in emerging and frontier markets, offering debt, equity, insurance, and technical assistance. However, there was broad acknowledgment that DFC has struggled with staffing, responsiveness, and follow-through on projects. State Department officials said they are working on streamlining coordination with DFC and are advocating for better interagency efficiency. Critical to the future of DFC is its reauthorization, which has garnered some early bipartisan momentum but will need to see that continue ahead of its October 2025 expiration.  

5. Clear, Credible Industry Input Is Essential to Shaping Policy 

CBA continues to welcome industry feedback to filter through the chain of command. Through CABDA and the creation of the new Trade Expansion Advisory Committee, there has been a greater push to capture the voice of importers and exporters on trade expansion initiatives. The State Department actively collects and reads field cables to understand commercial challenges and opportunities abroad. Businesses are urged to provide both high-level summaries and detailed data, especially around job impacts, revenue at stake, and regulatory barriers to the department.