FOR IMMEDIATE RELEASE December 15, 2020
Office of Communications (202) 565-3207
WASHINGTON – Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed met yesterday via teleconference with U.S. Ambassador to Burma Thomas Vajda to discuss how the export of U.S. goods and services can strengthen the economies of and support jobs in both the United States and Burma.
During the meeting, Chairman Reed also highlighted EXIM’s new 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.
Chairman Reed traveled to Burma in October as part of a U.S. economic delegation to the Indo-Pacific region. The U.S. delegation met with Burma’s State Counsellor Aung San Suu Kyi, Minister for Investment and Foreign Economic Relations Thaung Tun, Minister for Planning, Finance, and Industry Soe Win, and other key economic officials.
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.