FOR IMMEDIATE RELEASE October 28, 2020
Office of Communications (202) 565-3207
YOKOTA AIR BASE – President and Chairman of the Export-Import Bank of the United States (EXIM) Kimberly A. Reed met today via teleconference with Nippon Export and Investment Insurance (NEXI) Chairman and CEO Atsuo Kuroda to discuss the U.S.-Japan relationship, and how the export of U.S. goods and services to Japan can strengthen and support jobs in both countries.
Also participating in the meeting were Isabel Gadiz and Luke Lindberg from EXIM and Yuichiro Akita, Chief Manager, Head of Corporate Planning and International Relations Group Corporate Planning and Policy Office from Nexi and Hiroaki Machii, Chief Representative of the Americas at NEXI and Special advisor to the Minister of Economy, Trade and Industry, Government of Japan.
During the meeting, Chairman Reed and Chairman Kuroda discussed EXIM’s new Program on China and Transformational Exports (Program), which focuses on ten key industries including 5G and wireless telecommunications, quantum computing, renewable energy, biotechnology, and water sanitation. The Program directs EXIM to provide export financing to directly neutralize export subsidies offered by the People’s Republic of China, thereby helping ensure a more level playing field for U.S. businesses and workers as they compete globally. The law charges EXIM with a goal of reserving not less than 20 percent of the agency’s totaling financing authority (i.e., $27 billion out of a total $135 billion) for support made pursuant to the program.
Chairman Reed and Chairman Kuroda also discussed ways that their respective institutions could coordinate efforts to improve competitiveness and work toward certain important common goals.
Chairman Reed participated in the meeting virtually from Yokota Air Base, Japan, as she returned from a U.S. government economic delegation visit to Indonesia, Vietnam, and Myanmar, which focused on strengthening two-way trade and investment between the United States and the Indo-Pacific region.
(L-R) EXIM SVP Luke Lindberg and Chairman Kimberly Reed with (clockwise from top left) Chairman Kuroda, Isabel Galdez, Hiroaki Machii, and Yuichiro Akita participating virtually
In September 2020, EXIM hosted a meeting of the G12 Heads of Export Credit Agencies, including Chairman Kuroda, virtually.
In November 2019, EXIM and NEXI completed a reciprocal co-financing agreement to facilitate greater business opportunities for exporters of both nations.
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.