Myanmar Ministers Focus on Engaging Private Sector Investment in Energy, Agriculture, Infrastructure; Discussions in Naypyidaw Conclude U.S. Delegation’s Economic Visit to Indo-Pacific Region
FOR IMMEDIATE RELEASE October 27, 2020
Office of Communications (202) 565-3207
NAYPYIDAW – Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today took part in economic discussions with Myanmar (Burma) government officials in the capital city of Naypyidaw as part of a U.S. economic delegation visit to the Indo-Pacific region.
The U.S. delegation met with Myanmar‘s State Counsellor Aung San Suu Kyi (Myanmar’s de facto leader), Minister for Investment and Foreign Economic Relations Thaung Tun, Minister for Planning, Finance, and Industry Soe Win, and other key economic officials.
State Counsellor of Myanmar Aung San Suu Kyi and EXIM Chairman Kimberly Reed
Chairman Reed discussed how EXIM’s transparent financing can help Myanmar procure high-quality “Made in the USA” goods and services including in areas specifically mentioned by Daw Aung San Suu Kyi and the Ministers, including energy, agriculture, and infrastructure.
“It was a tremendous honor to talk with Myanmar State Counsellor Aung San Suu Kyi about democracy, the needs of her country, and the role of the Export-Import Bank of the United States. We are collectively focused on supporting economic growth, jobs, diverse industries, and small business,” said Chairman Reed. “Daw Suu and Ministers Thaung Tun and Soe Win emphasized that Myanmar wants to build a strong relationship with the United States. As their government considers new, balanced, sustainable, and transparent approaches to economic development, our large U.S. delegation—comprised of six government agencies, including EXIM—along with the American private sector, look forward to future engagement and investment in Myanmar.”
Minister for Investment and Foreign Economic Relations Thaung Tun with the U.S. Delegation
Chairman Reed also joined U.S. Department of Commerce Acting Under Secretary for International Trade Joseph Semsar for an American Chamber of Commerce in Myanmar roundtable discussion with U.S. companies, including John Deere, Caterpillar, and Ford, interested in doing business in Myanmar.
American Chamber of Commerce in Myanmar Roundtable (L-R): Lawson Kluttz, Chief of Staff, ITA, Commerce; Charity Wallace, Managing Director, DFC; Joseph Semsar, Acting Under Secretary for International Trade, Commerce; Kimberly Reed, Chairman, EXIM; Luke Lindberg, SVP, EXIM
In each of the meetings, Chairman Reed also highlighted how EXIM’s Program on China and Transformational Exports can play a new role in further supporting high-quality U.S. exports to the Indo-Pacific region, including in key industries such as wireless communication (5G), biomedical sciences, agriculture biotechnology, emerging financial technologies (including those technologies focused on combatting money laundering), renewable energy, and water treatment and sanitation.
U.S. Embassy to Myanmar Chargé d’Affaires Gwendolyn Cardno joined the U.S. delegation—which is being led by U.S. International Development Finance Corporation (DFC) CEO Adam Boehler, and includes senior government officials from DFC, EXIM, and the U.S. Departments of Commerce, Energy, State, and Treasury—for today’s meetings. In addition to Chairman Reed, EXIM Senior Vice President Luke Lindberg also is representing the agency.
Today’s visit to Myanmar concludes the U.S. delegation’s successful three country visit in the Indo-Pacific region. The U.S. delegation previously visited Indonesia and Vietnam as part of their economic and trade engagement in the region.
EXIM’s engagement with the Indo-Pacific region continues virtually today and tomorrow during the 2020 Indo-Pacific Business Forum, which is taking place in Hanoi, Vietnam and being hosted by the U.S. Trade and Development Agency. Chairman Reed will underscore EXIM’s commitment to supporting health care, biomedical science, and biotechnology exports during a Memorandum of Understanding signing with USA Healthcare Alliance (USAHA) Chair and Founder Dr. Trevor Gunn. Additionally, EXIM Chief Banking Officer Stephen Renna will participate in the forum on a panel discussion entitled, “Promoting Infrastructure Investment in the Indo-Pacific for a Better Future” and EXIM Senior Vice President for the Program on China and Transformational Exports David Trulio will participate in a panel discussion entitled, “U.S. Economic and Foreign Assistance Strategy Across the Indo-Pacific.”
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.