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EXIM Chairman Kimberly Reed Joins 16 U.S. Ambassadors to European Nations at September Summit in Luxembourg to Engage in Strategic Discussions

Focuses on Role of EXIM in Supporting U.S. Exports and Jobs, Advancing U.S-European Relations, the Space Industry, and Competition with China

FOR IMMEDIATE RELEASE September 27, 2020

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WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chairman of the Board of Directors Kimberly A. Reed, at the invitation of U.S. Ambassador to Luxembourg J. Randolph Evans, participated in the American Chiefs of Mission September Summit 2020 (September Summit) and various side meetings.

While in Luxembourg, Chairman Reed engaged in strategic discussions with U.S. Ambassadors to 16 European nations, interagency colleagues from the U.S. Departments of State and Commerce and the National Aeronautics and Space Administration, and leaders from the Luxembourg Government and European Union institutions.

“It was an immense honor to join such a distinguished group of U.S. Ambassadors to Europe for discussions on topics important to the United States, Europe, and the world – ranging from U.S.-European relations to COVID-19 economic recovery to space cooperation to EXIM,” said EXIM Chairman Kimberly Reed. “The United States and Luxembourg are two nations committed to advancing liberty and prosperity. EXIM is a tool in our nation’s toolbox, and we together will do our utmost to strengthen the United States competitiveness around the world, support jobs for our nation’s workers, and keep America strong. I want to thank President Trump for his leadership, guidance, and focus in the most challenging of times, and for wisely taking a whole-of-government approach, which prominently includes EXIM.”

The following U.S. Ambassadors and officials participated in the September Summit:

  • Ambassador J. Randolph Evans, U.S. Ambassador to the Grand Duchy of Luxembourg
  • Ambassador Kay Bailey Hutchison, U.S. Ambassador and Permanent Representative of the United States to the North Atlantic Treaty Organization
  • Ambassador George E. Glass, U.S. Ambassador to Portugal
  • Ambassador Stephen B. King, U.S. Ambassador to the Czech Republic
  • Ambassador Carla Sands, U.S. Ambassador to the Kingdom of Denmark
  • Ambassador Jamie D. McCourt, U.S. Ambassador to the French Republic and Principality of Monaco
  • Ambassador Callista Gingrich, U.S. Ambassador to the Holy See
  • Ambassador W. Robert Kohorst, U.S. Ambassador to Croatia
  • Ambassador Peter Hoekstra, U.S. Ambassador to the Netherlands
  • Ambassador Duke Buchan, III, U.S. Ambassador to Spain and Andorra
  • Ambassador Ronald Gidwitz, U.S. Ambassador to Belgium, Acting Representative of the United States to the European Union
  • Ambassador Georgette Mosbacher, U.S. Ambassador to Poland
  • Ambassador Jeffrey Ross Gunter, U.S. Ambassador to Iceland
  • Ambassador Lynda C. Blanchard, U.S. Ambassador to Slovenia
  • Ambassador Kenneth A. Howery, U.S. Ambassador to the Kingdom of Sweden
  • Ambassador Adrian Zuckerman, U.S. Ambassador to Romania
  • U.S. Department of State Under Secretary for Economic Growth, Energy, and the Environment Keith J. Krach
  • President and Chairman of Board of Directors of the Export-Import Bank of the United States, Kimberly Reed
  • Counselor of the U.S.  Department of State, Ulrich Brechbuhl
  • Acting Associate Administrator for International and Interagency Relations at the National Aeronautics and Space Administration, Mike Gold
  • Director of the Office of Space Commerce at the U.S. Department of Commerce, Kevin O’Connell

(L-R) Front Row: Amb. Gidwitz, Amb. Evans, Court of Justice of the European Union President Lenaerts, Amb. McCourt, Amb. Zuckerman. Second Row: Counselor Brechbuhl, Amb. King, Amb. Gunter, Amb. Kohorst. Third Row: Amb. Sands, Amb. Glass, Amb. Blanchard, Amb. Howery. Fourth Row: Amb. Hoekstra, Amb. Hutchinson, Amb. Mosbacher, Amb. Gingrich. Back Row: Mr. Stefan Passantino, Amb. Buchan, Chairman Reed. Photo Courtesy of the U.S. Embassy Luxembourg.

On Tuesday, September 22, Under Secretary Krach and Chairman Reed met with European Investment Bank President Werner Hoyer and then with Luxembourg Minister of Finance Pierre Gramegna to focus on the economy, Blue Dot Network, Clean Network, 5G, innovation, competition with China, and infrastructure.  Luxembourg Export Credit Agency Chairman Arsène Jacoby also joined the discussions.

On Wednesday, September 23, Chairman Reed joined the 16 U.S. Ambassadors to pay their respects to the 5,070 service members, including General George S. Patton Jr., buried at the Luxembourg American Cemetery.  The group then convened at the Court of Justice of the European Union to meet with President Koen Lenaerts.

While at the Court of Justice, Chairman Reed presented her September Summit remarks to the U.S. Ambassadors.  She outlined President Trump's leadership on EXIM that led to the agency’s full reopening in May 2019 following nearly four years of dormancy and the agency’s historic seven-year bipartisan Congressional reauthorization—the longest in the agency’s 86-year history—which was signed into law by the President on December 20, 2019.

Chairman Reed also outlined EXIM’s new “Program on China and Transformational Exports.”

“EXIM seeks to reserve at least 20% of our financing authority, or at least $27 billion of our $135 billion in financing, to ‘neutralize’ Beijing’s export subsidies, advance the comparative leadership of the United States with respect to the PRC, and support U.S. innovation, employment, and technological standards through direct exports in 10 industries key to America’s prosperity and security.  These include 5G, artificial intelligence, biomedical sciences, biotechnology, and financial technology,” said Chairman Reed.  “As Speaker Gingrich wrote last month in The Hill, EXIM’s new China Program will ‘better position the U.S. to push back on China’s global industrial policies and geopolitical ambitions.’  And, when it comes to detractors, the Speaker—who, like me, believes in free markets and that economic security is national security—put it in crisper, simpler terms to me last night: ‘You must ask them: Are you with us or are you with China?’”

During her remarks, Chairman Reed recognized U.S. Ambassador to Luxembourg J. Randolph Evans and highlighted EXIM’s focus on emerging technologies and the space industry.  EXIM recently engaged with 180 space technology leaders and stakeholders as part its “Strengthening American Competitiveness” initiative to help set the foundation for EXIM’s Program on China and Transformational Exports.

“Mr. Ambassador, you are an accomplished leader, as evidenced by your arranging this unprecedented summit to discuss with candor the challenges and opportunities that lie ahead for the United States, Luxembourg, Europe, and the world,” said Chairman Reed.  “Ambassador Evans, you also have a vision that extends literally to the stars.  Our gathering coincides with the visit to Luxembourg of a United States Space Delegation led by former House Speaker Newt Gingrich.”

Chairman Reed’s September Summit prepared remarks can be accessed here.

Later that evening, Luxembourg Deputy Prime Minister François Bausch, Finance Minister Gramegna, and Economy Minister Franz Fayot hosted a discussion highlighting the strong bonds between the United States and Luxembourg as leaders in finance, space, and trade.

On Thursday, September 24, Luxembourg’s President (Speaker) of the Chamber of Deputies (Parliament) Fernand Etgen hosted former U.S. Speaker of the House of Representatives Newt Gingrich, Ambassador Gingrich, Ambassador Evans, and Chairman Reed at the Luxembourg Parliament.