FOR IMMEDIATE RELEASE June 10, 2020
Office of Communications (202) 565-3207
WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today delivered prerecorded opening remarks on a “Protecting & Delivering Your Food Exports in Global Markets” teleconference, hosted by the Western United States Agricultural Trade Association (WUSATA) and EXIM.
Following Chairman Reed’s remarks, participants heard from a panel including:
- Eugene Uhm, Business Development Specialist, EXIM
- Monica Quenette, Outreach and Communications Coordinator, WUSATA
- Sharyn Koenig, Managing Director, EXIM
Chairman Reed underscored the growth potential opportunities for U.S. agriculture companies exporting their products around the world, as well as EXIM products and resources that are available to exporters. She outlined how EXIM’s COVID-19 relief measures can support economic growth and the reopening of America following the challenges of the global pandemic.
Chairman Reed also discussed EXIM’s new Program on China and Transformational Exports, which was established by the U.S. Congress as part of the agency’s recent historic seven-year reauthorization. The program’s purpose is to neutralize China’s official export credit and advance the comparative leadership of the United States with respect to China. It also seeks to support U.S. innovation, employment, and technological standards, through direct exports in key industries, including biotechnology which is directly connected to the innovations of modern agriculture.
“I have been involved with agriculture for my entire life and made it a priority at EXIM. It was wonderful to be able to join and bring awareness about EXIM’s resources to the State Departments of Agriculture, farmers, and agribusinesses leaders of the Great American West – from Arizona and New Mexico all the way out to Alaska and Hawaii – as they focus on ways to increase their businesses through U.S. exports. America’s farmers have faced challenges from both COVID-19 and China’s unfair trade practices, and I am committed to supporting growth, exports, and U.S. jobs within this vital American industry,” said Chairman Reed. “Recognizing that ninety-five percent of the world’s consumers and two-thirds of all purchasing are found outside of the United States, I also thank the Western United States Agriculture Trade Association for all they do to encourage our great U.S. farmers, ranchers, and agribusiness supply chains to ‘go global.’ EXIM stands ready to support those who make our nation’s great food, fuel, feed, and fiber exports possible.”
Since FY2015, EXIM has supported approximately $3.5 billion in agriculture exports through short-term insurance, and in FY2019, 80 percent of the agricultural exports EXIM supported were associated with small businesses.
WUSATA delivers programs and services that allow western U.S. agribusinesses to learn, connect, and compete in the export market.
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.