FOR IMMEDIATE RELEASE November 4, 2019
Office of Communications (202) 565-3201
Bangkok – Kimberly A. Reed, president and chairman of the Export-Import Bank of the United States (EXIM) met Sunday with Pisit Serewiwattana, president of the Export-Import Bank of Thailand (Thai EXIMBANK), the official Thai export credit agency (ECA). The bilateral meeting was held in conjunction with the 35th ASEAN Summit and 2019 Indo-Pacific Business Forum, which was held in Bangkok, Thailand.
During the meeting, Chairman Reed and President Serewiwattana discussed their respective plans and initiatives that their agencies are adopting. President Serewiwattana expressed an interest in working with EXIM on projects in the region and pursuant to the trade development objectives against the backdrop and pursuant to the ASEAN objectives, which Chairman Reed enthusiastically supports.
Chairman Reed and President Serewiwattana also discussed ways that their respective institutions could coordinate efforts to improve transparency and work towards certain important common goals. In an effort to share best practices, Chairman Reed outlined key reforms that she has prioritized at EXIM which also could be relevant for Thai EXIMBANK, including the following:
- Increase transparency
- Strengthen taxpayer protections
- Improve Protection for Domestic Companies
- Ensure EXIM does not “crowd out” private financing options
- Crack down on “bad actors”
- Work to reduce the reliance on export credit agencies globally
President Serewiwattana was generally supportive of these goals. Both Chairman Reed and President Serewiwattana look forward to discussing progress and broader ECA initiatives at upcoming meetings.
Pictured left to right: Stephen Renna, EXIM chief banking officer; Sittikorn Direksoonthorn, EXIM Thailand senior executive vice president; Kimberly A. Reed, EXIM president and chairman; Pisit Serewiwattana, EXIM Thailand president; Isabel Galdiz, EXIM vice president; and Anuchit Vitayaburananont, EXIM Thailand vice president.
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.