Event focused on U.S. trade and investment with Indo-Pacific countries
FOR IMMEDIATE RELEASE July, 30, 2018
Linda Formella (202-565-3204)
Washington, D.C. – Today Ambassador Jeffrey Gerrish, acting president and chairman of the Export-Import Bank of the United States (EXIM), addressed the Indo-Pacific Business Forum at the U.S. Chamber of Commerce headquarters in Washington, D.C.
The event brought together key U.S. officials, including Secretary of State Mike Pompeo, Secretary of Energy Rick Perry, and Secretary of Commerce Wilbur Ross, as well as other senior leaders from government and business, to discuss how government tools and policies can facilitate private-sector partnerships to unleash the full potential of the Indo-Pacific region.
“As an Indo-Pacific nation, the United States has long worked to advance freedom and prosperity across the region. For nearly a century, the EXIM Bank has demonstrated a proud and distinguished history of supporting American companies—large and small—in their efforts to do business in the Indo-Pacific,” said Ambassador Gerrish. “Today, EXIM has more than $10 billion in transactions sitting in our pipeline for the Indo-Pacific region in sectors that include power, mining, transportation, and advanced information technology—deals that would support thousands of American jobs here at home.”
While noting that the United States is home to the world’s most robust and innovative private financial sector, Ambassador Gerrish said that many large international projects require the involvement of export credit agencies such as EXIM.
“We at EXIM understand that our role is to complement, not compete with, private-sector banks. EXIM fills gaps in the market that private banks can’t or won’t fill in order to level the playing field for American businesses overseas,” Ambassador Gerrish added. “If EXIM is not there for American businesses, exporters will have to make the difficult decision of whether to take production offshore, get financing from another country’s export credit agency, or lose the sale. None of these options benefits the U.S. economy,” he said.
For the full remarks of Ambassador Gerrish to the Indo-Pacific Business Forum, please click here.
At the forum hosted by the U.S. Chamber of Commerce, U.S. government officials launched initiatives to accelerate the critical role of the U.S. private sector in shaping the economic future of Indo-Pacific countries and supporting job-creating U.S. export opportunities in key sectors such as energy, infrastructure, and the digital economy. The initiatives are aimed at creating business opportunities for U.S. companies and fostering market-driven growth in the region. For more information, please see the Indo-Pacific Business Forum fact sheet.
ABOUT EXIM BANK:
EXIM is an independent and self-sustaining federal agency that provides competitive and necessary export credit to overseas purchasers of U.S. exports to promote and support American jobs. A robust and fully functioning EXIM can assist the United States in leveling the global playing field for U.S. exporters when they compete against foreign companies that receive the support of their national export credit agencies. EXIM also contributes to U.S. economic growth and the support of more than a million jobs through the support of thousands of small and medium-sized enterprises (SMEs) around the country. Since 2000, EXIM has provided $14.6 billion to the U.S. Treasury after paying for all of its administrative and program expenses.
For more information about EXIM, please visit www.exim.gov.