Underscores Importance of Collaboration with AmChams to Strengthen U.S. Exports and Jobs, Supply Chain Security, and Competitiveness; Invites Engagement on EXIM’s New Program on China and Transformational Exports
FOR IMMEDIATE RELEASE September 29, 2020
Office of Communications (202-565-3203)
WASHINGTON — Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today addressed representatives of American Chambers of Commerce (AmChams) from 55 countries around the world.
During today’s virtual event, Chairman Reed outlined how U.S. businesses of all sizes can leverage EXIM’s financing tools and resources to increase their international sales, showcase their “Made in the USA” products, and sustain American jobs. She also underscored EXIM’s COVID-19 (coronavirus) relief measures for U.S. exporters and financial institutions that work in tandem with the agency’s existing programs.
Chairman Reed was joined by Edward A. Burrier, Executive Vice President for Strategy of the U.S. International Development Finance Corporation (DFC). Speaking on behalf of the U.S. Chamber of Commerce were Myron Brilliant, Executive Vice President and Head of International Affairs, and John G. Murphy, Senior Vice President for International Policy.
Chairman Reed also shared details of EXIM’s new Program on China and Transformational Exports, which directs EXIM to provide export financing to directly neutralize export subsidies offered by the People’s Republic of China, helping ensure a more level playing field for U.S. businesses and workers as they compete globally. The Program also supports United States innovation, employment, and technological standards, through direct exports in ten transformational export categories including 5G, artificial intelligence, biomedical sciences, and emerging financial technologies.
“On behalf of the Export-Import Bank of the United States, I thank the United States Chamber of Commerce, the 127 American Chambers of Commerce in 117 countries around the world, and their tens of thousands of business and individual members globally. These institutions are key to supporting U.S. businesses and American jobs and growing the economy through exports, and today’s meeting helped illuminate the role EXIM can play to advance U.S. competitiveness and interests around the world,” said EXIM Chairman Reed. “These organizations and businesses have witnessed the destructive effects of the coronavirus pandemic, and they now are poised to take part in the amazing economic recovery, both in the United States and in their respective countries. Trade will be key, in the return to normalcy and in reaching new heights of success for American businesses and workers as they export their goods and services to customers worldwide.”
“The U.S. Chamber of Commerce has long been a supporter of EXIM and DFC, whose work boosts U.S. exports and supports American jobs,” said the Chamber’s Myron Brilliant. “The international network of American Chambers of Commerce are natural partners for these two key institutions. Working together, we can build strong public-private partnerships that advance the interests of American workers and U.S. businesses operating across the globe.”
During the meeting, Chairman Reed highlighted her ongoing engagement with American Chambers of Commerce throughout the world, including last week in Greece — with the American-Hellenic Chamber of Commerce during a U.S. delegation trip led by DFC CEO Adam Boehler —and in Luxembourg — with AmCham Luxembourg during the American Chiefs of Mission September Summit 2020 with 16 U.S. Ambassadors to Europe. AmCham Luxembourg Chairman and CEO Paul Michel Schonenberg stated, “Please accept our profound thanks and appreciation for all you are doing as a Chair for the Export-Import Bank of the United States to defend and promote the United States of America, our companies, our citizens, and our way of life. We acknowledge your sacrifice and hard work and wish you continued strength, courage, and happiness.” In June, Chairman Reed addressed the American Chamber of Commerce in Italy.
Particularly given that supporting exports to sub-Saharan Africa is a priority, Chairman Reed also congratulated Scott Eisner, Senior Vice President of African Affairs and President of the U.S.-Africa Business Center for the U.S. Chamber of Commerce, who was recently appointed to serve on EXIM’s Sub-Saharan Africa Advisory Committee.
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.