BUILDING PARTNERSHIPS, TRADE TO SOUTHEAST EUROPE
The Export-Import Bank of the United States (Ex-Im Bank) will be discussing ways to expand US exports to Southeast Europe during the Southeast Europe Business Conference Oct. 31-Nov. 1 in Sofia, Bulgaria, hosted by Commerce Secretary William M. Daley. Jeffrey L. Miller, Ex-Im Bank group vice president of structured export and trade finance, will meet with US and Southeast European trade, finance and business leaders to find ways to expand Ex-Im Bank financing in the region. He will address the 200 conference participants Monday, Nov. 1 at 9 a.m. at a panel on US Government Programs.
We share a common interest in developing trade and expanding upon the economic potential of Southeast Europe, Miller said. Our goal is to learn what the region`s needs are and explore ways to partner with businesses and financial institutions to increase financing to both US exporters and Southeast European buyers. We especially want to reach out to small and medium-sized companies.
Ex-Im Bank provided approximately $500 million in loans and guarantees in support of US exports to Southeast Europe in fiscal year 1999. Recent financings include:
• $81 million to support exports by Siemens-Westinghouse for Bulgaria`s Kozloduy Power Plant,
• $100 million to support coastal navigational aid exports to Croatia by Lockheed-Martin,
• $12 million in support of exports of motor vehicles and computer equipment by Crown International for customs operations in Macedonia, and
• $20 million for exports of surgical-medical equipment to Romania by Stryker Corp.
In June, during President Clinton`s visit, Ex-Im Bank signed a Memorandum of Understanding (MOU) with the Slovenian Export Corporation. The MOU allows the two export credit agencies to cooperate in providing financing from their respective countries to third countries in Southeast Europe.
Ex-Im Bank is an independent U.S. government agency that assists in financing the export of US goods and services to developing markets around the world. Worldwide in fiscal year 1999, Ex-Im Bank supported nearly $17 billion of US exports.