FOR IMMEDIATE RELEASE November 12, 2019
Office of Communications (202) 565-3204
Washington, D.C. – Kimberly A. Reed, president and chairman of the Export-Import Bank of the United States (EXIM), today hosted a roundtable discussion with U.S. technology business leaders and representatives of industry trade associations to discuss ways that EXIM can assist with increasing the volume of America’s technology-related exports and open up a dialogue on how EXIM can expand its support for these industries.
Chairman Reed led the roundtable at EXIM headquarters in Washington, D.C., that was attended by Josh Kallmer, executive vice president, Policy, at the Information Technology Industry Council (ITIC); Tom Stroup, president, Satellite Industry Association (SIA), and Ali Aafedt, director, Trade Facilitation Policy, National Association of Manufacturers (NAM). Business leaders from technology-related companies also participated by conference call.
“President Trump is committed to putting ‘America First’ by growing our economy and creating U.S. jobs. EXIM is a powerful tool in the toolbox in achieving the president’s agenda,” said EXIM President and Chairman Kimberly A. Reed. “Today’s discussion with representatives from several technology-related associations and businesses was productive, and we hope that it will lead to creative and innovative solutions that will help increase U.S. technology exports.”
Chairman Reed added, “The mission of EXIM is supporting U.S. jobs through exports, and the technology sector employs some 14 million Americans. We want to make sure that we are there for America’s technology companies as we are needed to enable them to compete successfully in the global marketplace.”
“The EXIM Bank provides vital support for manufacturers and their workers across America, especially as they seek to win new overseas sales in critical technology sectors where foreign competition is particularly fierce. America’s long-term competitiveness in cutting-edge technologies requires a stable and strong EXIM,” said Ali Aafedt, NAM’s director of Trade Facilitation Policy.
“In the $20 billion global satellite-manufacturing market, government-backed export credit agencies provide foreign manufacturers with financing tools and a competitive advantage when competing with U.S. companies,” said SIA President Tom Stroup. “EXIM Bank eliminates that financing advantage, levels the playing field, and helps American satellite manufacturers to provide high-value jobs while further solidifying their leadership position in the global satellite marketplace.”
“EXIM plays an important role in supporting U.S. innovation, job creation, and economic growth,” said Josh Kallmer, ITIC’s executive vice president of Policy. “We look forward to exploring possible collaboration between EXIM and the tech sector.”
In the roundtable, EXIM staff discussed how the agency’s short-, medium-, and long-term products can be used to meet the needs of both large and small companies seeking to export technology-related goods and services in a wide range of sectors.
From fiscal year (FY) 2009 through FY 2019, EXIM authorized nearly $6.3 billion in support of U.S. technology-related exports, including satellites and launch services insurance, telecommunications equipment, and equipment for semiconductor manufacturing, among others.
ABOUT EXIM BANK:
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to overseas purchasers of U.S. goods and services. 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, 90 percent of the total number of the agency’s authorizations has directly supported small businesses.
For more information about EXIM, please visit www.exim.gov.