FOR IMMEDIATE RELEASE March 31, 2021
Office of Communications (202-565-3204)
WASHINGTON – The 2020-2021 Advisory Committee of the Export-Import Bank of the United States (EXIM) met yesterday to discuss EXIM’s upcoming Report to Congress on Officially Supported Global Export Credit Competition (Competitiveness Report), the implementation of EXIM’s Program on China and Transformational Exports (China Program)and objectives of the Biden-Harris Administration on economic security, U.S. competitiveness, and support for renewable energy.
In May, the Advisory Committee will review a preliminary draft of EXIM’s 2020 Competitiveness Report in order to prepare its statement on the findings of the report, as required by Congress, that will be submitted to the U.S. Congress with the Competitiveness Report and published online by June 30, 2021.
Advisory Committee chairman, the Honorable Stevan Pearce, presided over the public meeting. Acting EXIM First Vice President and Vice Chairman James C. Cruse and Board Members Spencer Bachus III and Judith D. Pryor addressed the virtual gathering, with the additional participation of EXIM senior management in the Office of Policy and International Relations, Office of Congressional and Intergovernmental Affairs, Office of Communications and External Engagement, and the Office of the Program on China and Transformational Exports. Ambassador Paula Dobriansky, Advisory Committee member and chair of the advisory subcommittee, the Chairman’s Council on China Competition, presented findings and recommendations related to implementing EXIM’s Program on China and Transformational Exports.
Advisory Committee members were briefed on the Competitiveness Report status and its statutory role in the process, as well as on the implementation of the agency’s foreign content policy for the China Program. Committee members offered comments on the current state of U.S. exporter competitiveness and EXIM’s role in advancing the Administration’s objectives on economic recovery and climate change.
Acting First Vice President and Vice Chairman Cruse discussed calendar year 2021 activity to date. He also noted efforts currently underway to adapt the Organisation for Economic Development and Cooperation (OECD) Arrangement on Officially Supported Export Credits to enable OECD export credit agencies such as EXIM to more effectively assist exporters competing with Chinese companies in international markets.
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.