FOR IMMEDIATE RELEASE September 6, 2011
Jamie Radice: 202-565-3200
Atlanta, Ga. - Today, the Chairman of the Export-Import Bank of the United States, Fred P. Hochberg, gave a keynote address at the Metro Atlanta Chamber entitled, How the United States Can Gain a Competitive Edge in the Transforming World of Exports. During his remarks, the Chairman addressed the unique challenges to U.S. exporting and outlined a strategy on how the nation can remain a global leader in exports.
Ensuring American competitiveness requires leveling the global playing field, rebalancing our economy and doing the hard work necessary to tackle domestic challenges, said Hochberg. It requires us to be much more active globally in addressing the rise of state-directed capitalism - and much more thoughtful domestically about how we address obstacles impeding competitiveness. The key is to continue making the U.S. the best - and most strategic - place to start a business.
Hochberg explained that in order for the nation to lead the world in exports, the U.S. must address market distortions, find additional ways to capitalize on global market opportunities, and tackle domestic issues that hinder our global competitiveness. He outlined the importance of using export financing, trade policy and international enforcement mechanisms to offset market distortions that arise from state-directed capital.
About Ex-Im Bank:
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.
In FY 2011 through August 4, 2011, Ex-Im Bank has approved more than $24.5 billion in total authorizations - an all-time Ex-Im record. This total included 2,548 U.S. small-business transactions. Ex-Im Bank's authorizations through August 4 will support $31.5 billion in U.S. export sales and approximately 213,000 American jobs in communities across the country. For more information, visit the Bank's Web site at www.exim.gov.