Discusses Private Sector Insights and Partnership with EXIM in Supporting Fifth Generation Wireless Technology – a Transformational Export – to Advance America’s Comparative Leadership and Help Neutralize Export Subsidies from China
FOR IMMEDIATE RELEASE May 14, 2020
Office of Communications (202) 565-3207
WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today hosted a teleconference roundtable discussion with approximately 200 business leaders and stakeholders in the telecommunications (5G) sector. The event was the second teleconference in EXIM’s “Strengthening American Competitiveness” initiative, which will provide valuable stakeholder input to EXIM’s new Program on China and Transformational Exports.
On the call, Chairman Reed highlighted how EXIM’s partnership with the private sector can facilitate the evolution and security of 5G technologies essential to our future.
“China’s aggressive global expansion in 5G challenges our prosperity and security. Through close private sector engagement, EXIM, as part of a whole-of-government approach, supports the development, deployment, and management of secure, reliable 5G communications infrastructure worldwide, arm-in-arm with our closest allies and partners,” said Chairman Reed. “Time is of the essence in an ever-more fierce global 5G marketplace, and I want to thank each of the telecommunications executives and thought leaders who shared their valuable perspectives.”
General James Jones, USMC (Ret), who served as U.S. National Security Advisor from 2009 to 2010, also delivered remarks on the call. According to Jones, “Secure 5G is the backbone of the future economy and engine for U.S. job creation, prosperity and security in the years ahead. EXIM is a crucial asset in the nation’s toolkit in executing what must be an energetic national campaign to lead the secure 5G revolution worldwide.”
David Trulio, Senior Vice President for the Program on China and Transformational Exports, noted that “EXIM is committed to supporting American jobs by neutralizing Chinese export subsidies and leveling the playing field for U.S. exporters.” Trulio continued, “Through its export credit products, EXIM is eager to advance the responsible development and deployment of secure and reliable 5G equipment and services. As our discussion made clear, partnerships, including with EXIM, can be an essential source of advantage, and we are grateful for our participants’ insights on the intellectual property and innovation that drives value in their offerings.”
Also giving remarks in the roundtable discussion were:
- Maj Gen Bob Wheeler, USAF (Ret)
- Terry Halvorsen, Chief Information Officer, Executive Vice President IT Mobile Samsung Electronics, Samsung
- Quinn Bottum, Co-Founder, Swoop Search
- Connor Bennett, Director, Global Technology Finance Partners, Cisco Capital Markets
- Stefano Cantarelli, Executive Vice President, Chief Marketing Officer, Mavenir
- Michael Liebsch, Managing Director, Juniper Financial Services
- Thierry Maupilé, Executive Vice President, Altiostar
Maj Gen Wheeler said “5G is the enabler of artificial intelligence, machine learning and big data - the engine of modern economies and the fuel to western GDP growth.”
The Program on China and Transformational Exports, established in EXIM’s historic seven-year reauthorization, directs EXIM to provide financial products to directly neutralize export subsidies offered by the People’s Republic of China, helping to ensure a level playing field for U.S. businesses and workers as they compete globally. The program has the aim of advancing the comparative leadership of the United States and supporting U.S. innovation, employment, and technological standards globally in ten transformational export industries.
More information on EXIM’s “Strengthening American Competitiveness” initiative, including a full schedule of teleconferences and recordings of previous events, can be found here.
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. 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.