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Readout from EXIM Chairman Kimberly Reed’s Call with U.S. Ambassador to the United Arab Emirates John Rakolta Jr.

FOR IMMEDIATE RELEASE January 8, 2021

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Office of Communications (202) 565-3207

KHARTOUM, SUDAN – President and Chairman of the Export-Import Bank of the United States (EXIM) Kimberly A. Reed on Wednesday spoke with U.S. Ambassador to the United Arab Emirates John Rakolta Jr. regarding EXIM’s role in supporting U.S. exports to the U.A.E., in the Middle East and North Africa region, and throughout the world.

During the phone call meeting, Chairman Reed and Ambassador Rakolta discussed Expo 2020 Dubai — the Middle East’s first World’s Fair. The rescheduled Expo, which has the theme “Connecting Minds, Creating the Future,” will run from October 1, 2021, until March 31, 2022, and convene more than 190 participating countries and millions of visitors from around the world. The USA Pavilion will showcase a dynamic society that has shaped the modern world, remains the freest, most prosperous nation on earth, and supports freedom and prosperity for all. Both the Chairman and the Ambassador agreed that “Made in the USA” goods and services that are exported around the world, are a very important part of this American story.

Chairman Reed and Ambassador Rakolta also focused on EXIM’s Program on China and Transformational Exports, which directs EXIM to provide financial products to directly neutralize export subsidies offered by the People’s Republic of China, helping to ensure a level playing field for U.S. businesses and workers as they compete globally.

The program has the aim of advancing the comparative leadership of the United States and supporting U.S. innovation, employment, and technological standards globally in ten transformational export industries key to U.S. prosperity and security, including 5G, emerging financial technology, renewable energy, biomedical sciences, biotechnology, artificial intelligence, and high-performance computing.

The phone call meeting took place during Chairman Reed’s visit this week to Oman, Sudan, and Qatar to underscore U.S. commitment to strengthening bilateral partnerships and advancing economic prosperity in the Middle East and North Africa.

EXIM Chairman Reed and Ambassador to the United Arab Emirates Rakolta
EXIM Chairman Reed and Ambassador to the United Arab Emirates Rakolta

ABOUT EXIM:

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.