Chairman Reed Addresses U.S. Ambassadors from Near-East Asia Region on How EXIM Can Help U.S. Companies Compete Internationally
Washington, D.C. - President and Chairman of the Export-Import Bank of the United States (EXIM) Kimberly A. Reed today addressed the annual Global Chiefs of Mission Conference at the U.S. State Department to help American diplomats better understand how EXIM can assist American companies compete in the global marketplace.
In her remarks to the U.S. Ambassadors to countries in the Middle East and North Africa region under the State Department's Bureau of Near Eastern Affairs, Chairman Reed underscored how EXIM's financial products and services can support U.S. businesses and counter foreign export credit agencies, like China's, in the region. Since 2015, EXIM has authorized $672 million for 13 countries across the region.
Chairman Reed also reviewed EXIM's historic seven-year reauthorization. The new legislation directs EXIM to advance U.S. leadership around the globe by competing with China and by supporting transformational exports. Those exports are in ten areas:
- artificial intelligence;
- biomedical sciences;
- wireless communications equipment (including 5G or subsequent wireless technologies);
- quantum computing;
- renewable energy, energy efficiency, and energy storage;
- semiconductor and semiconductor machinery manufacturing;
- emerging financial technologies, including technologies that facilitate (a) financial inclusion through increased access to capital and financial services, (b) data security and privacy, (c) payments, the transfer of funds, and associated messaging services and (d) efforts to combat money laundering and the financing of terrorism;
- water treatment and sanitation, including technologies and infrastructure to reduce contaminants and improve water quality;
- high performance computing; and
- associated services necessary for use of any of the foregoing exports
"America's ambassadors are on the ground across the globe, with an understanding of where there is opportunity for the United States to export 'Made in the USA' products," said Chairman Reed. "EXIM wants to be a partner in ensuring U.S. businesses can compete on a global scale."
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to overseas purchasers of U.S. goods and services. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency's authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.
For more information about EXIM, please visit www.exim.gov.