FOR IMMEDIATE RELEASE January 25, 2006
Marianna Ohe 202-565-3200
LONG BEACH, CALIF. - California companies will have an edge in elling their products and services in foreign markets due to a new partnership between the Centers for International Trade Development (CITD) and the Export-Import Bank of the United States (Ex-Im Bank).
CITD, with 14 offices covering every major economic region in California, has joined Ex-Im Bank's City-State Partners Program, a national marketing initiative that brings export financing services to small- and medium-sized U.S. companies through cooperation with state and local governments and private sector organizations.
|CALIFORNIA COMPANIES will have an edge in selling their products and services in foreign markets due to a new partnership between the Centers for International Trade Development (CITD) and Ex-Im Bank. CITD statewide director Jeffrey A. Williamson (left) and James H. Lambright, president and chairman (acting) of Ex-Im Bank, signed the partnership at CITD's Long Beach regional office.|
With the addition of CITD, Ex-Im Bank now has 45 city-state partners in 35 states, plus the Commonwealth of Puerto Rico.
Small businesses offer the greatest potential for export and job growth within the U.S. economy, said James H. Lambright, president and chairman (acting) of Ex-Im Bank, in signing the partnership at CITD's Long Beach regional office this week. Our partners ensure that these small firms have access to the same expertise and export opportunities as large companies and foreign competitors.
Although we have worked with Ex-Im Bank in the past, this partnership will enable us to work in a more coordinated way to help small companies realize international business opportunities, said CITD statewide director Jeffrey A. Williamson. By combining our marketing strengths we will reach even more exporters.
Williamson said CITD, funded under the California Community Colleges Economic and Workforce Development Program, plans to hold at least 12 trade seminars over the next year in conjunction with Ex-Im Bank. CITD can walk local businesses through the process of applying for a wide range of Ex-Im Bank financing tools including working capital support, export credit insurance and loan guarantees that will enable them to better compete in growth markets abroad.
Ex-Im Bank this year marks its 71st year of helping finance the sale of U.S. exports, primarily to emerging markets throughout the world. In fiscal year 2005 Ex-Im Bank authorized nearly $14 billion in transactions supporting almost $17.9 billion in U.S. exports. This represented 3,128 transactions, of which 2,617, or over 80%, directly benefited small businesses. Over the past five years, Ex-Im Bank has helped 848 California companies in 232 communities export $9.5 billion in goods and services.
For more information on Ex-Im Bank, visit the web site at //www.exim.gov. More information on the CITD may be found on the Web at http://www.citd.org. For information on becoming a City-State Partner, or contacting existing Partners, e-mail Mr. Gus Grace via e-mail at Gus.Grace@exim.gov.