Discusses Partnership with EXIM as part of “Strengthening American Competitiveness” Initiative to Advance U.S. Comparative Leadership, Counter Chinese Export Subsidies
FOR IMMEDIATE RELEASE July 16, 2020
Office of Communications (202) 565-3207
WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chairman of the Board of Directors Kimberly A. Reed today hosted a teleconference roundtable discussion with over 85 business leaders and stakeholders in the biomedical sciences sector. The event was the sixth teleconference in EXIM’s “Strengthening American Competitiveness” initiative, which provides valuable stakeholder input to EXIM’s new Program on China and Transformational Exports.
On the call, Chairman Reed highlighted the economic growth potential of these innovative industries, and underscored EXIM’s commitment to accelerating the success of American biomedical science companies.
“President Trump has issued executive orders devoted solely to biomedical technologies during the COVID-19 pandemic and has worked to facilitate exports while maintaining strong safeguards,” said Chairman Reed. “The Administration is making it clear biomedical technology is of critical importance to the nation, and reflecting that priority, Congress included it in the list of transformational exports outlined in EXIM’s reauthorization. I am committed to supporting U.S. companies in this critical sector and thank the biomedical science leaders who shared their insight today.”
Also giving remarks in the roundtable discussion were:
- David Trulio, Senior Vice President, Program on China and Transformational Exports, EXIM
- Bruce Drossman, Senior Vice President, ECA Deal Advisory, GE Capital
- Dr. Trevor Gunn, Vice President, International Relations, Medtronic
- Juan Carlos Negrette, Director, Global Health, University of Utah
- Raphaël Ortega Costa, Chief Executive Officer, American Medical Engineering
- James Wind, Chief Financial Officer, Flow Sciences Inc.
“Maintaining and expanding the U.S. leadership in medical technology is an economic and strategic imperative for our country,” said Bruce Drossman. “EXIM is a critical element of the national toolkit for executing on that mission, as highlighted under the Transformational Exports provision of the Bank’s renewed Charter.”
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.