EXIM Chairman Reed Addresses International Economic Forum of the Americas' Conference of Montreal 2020
WASHINGTON - Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed on Wednesday virtually addressed the International Economic Forum of the Americas' (IEFA) 26th edition of The Conference of Montreal, outlining how EXIM trade financing solutions can support U.S. businesses and continued job growth in the wake of the COVID-19 pandemic.
Chairman Reed participated in a virtual fireside chat with Sonia Struthers, Partner at Canadian law firm McCarthy Tetrault, to discuss where the United States fits in the post-pandemic world. The four-day conference had an international audience of 5,500 registrants and brought together world's top public and private sector leaders-including CEOs, heads of state and government and other high-level government officials, academicians, and leaders of diverse organizations-to address major issues concerning economic globalization, with a particular emphasis on relations between the Americas and other continents.
In her remarks, Chairman Reed outlined EXIM's COVID-19 relief measures for U.S. exporters and financial institutions that enhance the agency's existing programs, including expanding the Working Capital Guarantee Program and the Supply Chain Finance Program. She discussed EXIM's financing tools and resources that U.S. businesses, particularly small businesses, can leverage to increase their international sales, showcase their "Made in the USA" products, and sustain American jobs.
Chairman Reed also highlighted the new United States-Mexico-Canada Agreement (USMCA) and EXIM's new Program on China and Transformational Exports.
"In times of crisis, U.S. exporters will be taking even more advantage of EXIM's solutions. EXIM is needed most during periods of stress in global financial markets, which is what EXIM experienced following the 2008 financial crisis when authorizations increased by 80 percent," said Chairman Reed. "The reduced business activity and uncertainty that the worldwide pandemic brought to the global marketplace has been a difficult challenge for exporters, but the ingenuity, tenacity, and innate optimism of entrepreneurs who are allowed to operate in conditions of economic freedom means that opportunities will always be found in the aftermath of adversity-even when it is an unusual crisis like COVID."
"It was an honor and pleasure to welcome Kimberly Reed, President and Chairman of the Board of Directors of the Export-Import Bank of the United States, to the annual flag-ship conference organized by the International Economic Forum of the Americas. Ms. Reed provided valuable insight into the role of EXIM in strengthening the resilience of U.S. companies in the global market," said Nicholas Remillard, IEFA President and Chief Executive Officer.
"The way in which EXIM has driven the expansion of U.S exports under Ms. Reed's leadership is impressive, and the coordination of policies of the export development banks of the G7 countries including that of Canada is a really encouraging development," said Sonia Struthers of at McCarthy Tetrault, who conducted the fireside chat.
EXIM Chairman Kimberly Reed and Sonia Struthers during the Conference of Montreal 2020
Chairman Reed also highlighted the 2020 G7 Heads of Export Credit Agencies meeting, which took place on December 16-17 and included the leaders of the export credit agencies from Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
The annual IEFA Conference of Montreal is recognized as a platform for that fosters dialogue and collaboration, and from which leaders can share their vision and their solutions for the current challenges.
ABOUT EXIM:
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.