Export-Import Bank Annual Conference Highlights U.S. Export Growth, Need for Financing
April 13, 2012
(Ex-Im Bank)
New Export Data Announced, President Clinton
Calls for Ex-Im’s Reauthorization
Washington, D.C. – The significance of U.S.
export growth to America’s economy and the need
for continued availability of export financing
were key themes highlighted at the 37th annual
conference of the Export-Import Bank of the
United States (Ex-Im Bank), held in Washington,
D.C., April 12-13.
Ex-Im Bank announced new trade figures showing
that U.S. exports reached more than $181.2
billion in February 2012, according to data
released by the Bureau of Economic Analysis of
the Commerce Department. Over the last 12
months, exports totaled more than $2.1 trillion
– nearly 35.5 percent above the level of
exports in 2009.
U.S. exports have been growing at an annualized
rate of 15 percent, the growth rate required to
meet President Obama’s goal of doubling U.S.
exports by 2015.
Ex-Im’s two-day conference, entitled “Ex-Im
Bank –Your Competitive Edge,” drew more than
1,200 participants from 40 countries and
featured keynote speeches and panel
presentations by world business, finance and
political leaders.
President Bill Clinton, founder of the William
J. Clinton Foundation and the 42nd president of
the United States, gave the keynote address on
Thursday, April 12, focusing on the critical
role of trade in global development. He also
called for Ex-Im’s congressional
reauthorization and an increase in the Bank’s
exposure cap.
“If America wants to lead the world in shared
prosperity, a key component must be to increase
employment in the tradable sector,” said
President Clinton, who also addressed Ex-Im’s
annual conference in 1993 while in office.
“There is a whole raft of studies that show
that Americans who work in the tradable sector
of the economy are not only likely to get jobs
with higher starting pay but also pay that
increases with the growth of the companies.”
The former president also commented on the role
of Ex-Im Bank in helping U.S. exporters compete
with foreign companies supported by their
governments. “As a practical matter, when you
are on a field in a competition, you either
meet the competition or you get beat.
Unilateral disarmament is not a very good
recipe for success,” Clinton noted. “If you are
here from the USA, I urge you to ask the
Congress to reauthorize the Ex-Im Bank at the
higher level.”
Conference presenters on Friday, April 13,
included Commerce Secretary John Bryson, Mayor
of Chicago Rahm Emanuel and Jeffrey Sachs,
director of the Earth Institute at Columbia
University. A full list of participants at
Friday’s conference session is available online
at www.exim.gov/news/annualconf/2012/index.cfm.
Conference highlights are also available
online.
Ex-Im Bank Chairman Fred P. Hochberg told
conference attendees that Ex-Im Bank and the
U.S. Maritime Administration have worked out a
new agreement that will make it easier for U.S.
exporters benefiting from the Bank’s buyer
financing for large transactions to meet
U.S.-flagged shipping requirements.
Ex-Im Bank also announced its initial
transaction under Global Credit Express, the
Bank’s first direct loan product for small
businesses. The pilot program features a 12-
month line of credit up to $500,000 for
eligible exporters. Last week, the Bank
approved a $200,000 loan to JCA International
Corp., in Carlsbad, Calif., a small-business
importer and exporter of frozen fruits and
vegetables.
In addition, a new special "Business Speed
Networking" session brought together foreign
buyers and American sellers for one-on-one
introductory meetings aimed to facilitate
deal-making.
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