READOUT: EXIM Advisory Committee Meets to Review Upcoming 2020 Competitiveness Report, Discusses Challenges for U.S. Exporters in Global Export Competition
WASHINGTON - The 2020-2021 Advisory Committee of the Export-Import Bank of the United States (EXIM) met last week to discuss the upcoming Report to Congress on Officially Supported Global Export Credit Competition (Competitiveness Report), which is EXIM's congressionally mandated annual survey of global official export credit agencies, lenders and exporters. The Advisory Committee reviewed a draft of its written letter that will be included in report submitted to the U.S. Congress and published online on 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 attended 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 China and Transformational Exports Program.
Advisory Committee members expressed strong support for the significant reforms EXIM has undertaken over the past two years to implement the China and Transformational Exports Program, support for U.S. exporters in the face of the COVID-19 pandemic, and relaunch of the medium- and long-term (MLT) financing program following EXIM's historic reauthorization and return of the Board of Directors quorum in 2019. Committee members raised concerns about ongoing challenges that U.S. exporters face in competing with foreign companies, and they also discussed EXIM's content policies.
EXIM's Advisory Committee is a group of individuals in the private and public sectors that volunteer to represent various facets of the U.S. economy, including agriculture, commerce, environment, finance, labor, production, services, and small business. The committee provides input to EXIM on the effectiveness of its policies and programs in support of U.S. exporters and American jobs.
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.