SEC. 3105. FOREIGN MARKET DEVELOPMENT COOPERATOR PROGRAM.

(a) VALUE-ADDED PRODUCTS.—

(1) IN GENERAL.—Section 702(a) of the Agricultural Trade Act of 1978 (7 U.S.C. 5722(a)) is amended by inserting ‘‘, with a continued significant emphasis on the importance of the export of value-added United States agricultural products into emerging markets’’ after ‘‘products’’.

 (2) REPORT TO CONGRESS.—Section 702 of the Agricultural Trade Act of 1978 (7 U.S.C. 5722) is amended by adding at the end the following:

‘‘(c) REPORT TO CONGRESS.—The Secretary shall annually submit to the Committee on Agriculture and the Committee on International Relations of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report on activities under this section describing the amount of funding provided, the types of programs funded, the value-added products that have been targeted, and the foreign markets for those products that have been developed.’’.

(b) FUNDING.—Section 703 of the Agricultural Trade Act of 1978 (7 U.S.C. 5723) is amended to read as follows:

‘‘SEC. 703. FUNDING.

‘‘(a) IN GENERAL.—To carry out this title, the Secretary shall use funds of the Commodity Credit Corporation, or commodities of the Commodity Credit Corporation of a comparable value, in the amount of $34,500,000 for each of fiscal years 2002 through 2007.

‘‘(b) PROGRAM PRIORITIES.—In providing any amount of funds or commodities made available under subsection (a) for any fiscal year that is in excess of the amount made available under this section for fiscal year 2001, the Secretary shall, to the maximum extent practicable—

‘‘(1) give equal consideration to—

‘‘(A) proposals submitted by organizations that were participating organizations in prior fiscal years; and ‘‘(B) proposals submitted by eligible trade organizations that have not previously participated in the program established under this title; and

‘‘(2) give equal consideration to—

‘‘(A) proposals submitted for activities in emerging markets; and

‘‘(B) proposals submitted for activities in markets other than emerging markets.’’.