FOR IMMEDIATE RELEASE September 23, 2020
Office of Communications (202) 565-3207
WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chairman of the Board of Directors Kimberly A. Reed yesterday delivered prerecorded remarks at the Los Angeles Area Chamber of Commerce virtual event “World Trade Week Celebrating Trade in L.A.,” with the theme Southern California: Fueling Innovation and Economic Growth.
In her remarks, Chairman Reed highlighted EXIM’s COVID-19 relief measures, as well as EXIM’s new Program on China and Transformational Exports, which is designed to directly neutralize Chinese export subsidies, advance the comparative leadership of the United States with respect to China, and support U.S. innovation, employment, and technological standards in ten key technology sectors. Chairman Reed also underscored EXIM’s commitment to supporting L.A.-area businesses and workers as they export their “Made in the USA” products around the world.
“As we continue to see the effects of the COVID-19 pandemic and devastating wildfires, many businesses throughout the Los Angeles area are considering accessing the global marketplace so they can find new customers and grow,” said Chairman Reed. “Over the last five years, EXIM has supported more than 600 exporters in California, including 480 small businesses. I am committed to continuing that support - and have introduced specific measures to support businesses effected by COVID-19 and wildfires - helping even more California businesses reach customers all around the world.”
“We are excited to have Kimberly Reed as our featured keynote for the 94th annual World Trade Week virtual event. This year has shown how interconnected the world is, as well as how global trade is fueling innovation and economic growth for the Los Angeles region through challenging times,” said Maris S. Salinas, President & CEO of the Los Angeles Area Chamber of Commerce.
On September 16, EXIM extended measures to assist U.S. exporters and financial institutions located in states that may be declared federal disaster areas by the Federal Emergency Management Area (FEMA) due to the effects of recent hurricanes or wildfires.
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.