FOR IMMEDIATE RELEASE December 5, 2020
Office of Communications (202) 565-3207
MANAMA, BAHRAIN — President and Chairman of the Export-Import Bank of the United States (EXIM) Kimberly A. Reed met today with His Excellency Sayyid Badr bin Hamad bin Hamood Albusaidi, Minister of Foreign Affairs of the Sultanate of Oman, to discuss the long history of friendly trade and diplomatic relations between the United States and Oman, the role of EXIM, and new opportunities for economic partnership.
Meeting on the margins of the 16th International Institute for Strategic Studies (IISS) Manama Dialogue, Chairman Reed and Sayyid Badr discussed shared bilateral interest in transformational export sectors including biotechnology, high-performance computing, and renewable energy.
EXIM Chairman Kimberly Reed and His Excellency Sayyid Badr bin Hamad bin Hamood Albusaidi, Minister of Foreign Affairs of the Sultanate of Oman
They also discussed EXIM’s historic reauthorization, the value of the U.S.-Oman Free Trade Agreement, and Oman’s strategic location for maritime trade, including its access to over 1.5 billion people throughout Asia and Africa. Chairman Reed highlighted EXIM’s new Program on China and Transformational Exports, which provides financial products to directly neutralize export subsidies offered by the People’s Republic of China, helping U.S. businesses and workers compete globally on a level playing field.
Chairman Reed traveled to Bahrain to represent the United States as the U.S. delegate at the IISS Manama Dialogue, a unique international security and regional diplomatic summit, where delegations from more than 20 countries also will conduct face-to-face diplomacy through bilateral and multilateral meetings.
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.