Roundtable discusses business opportunities with US Exim Bank

Muscat: In accordance with its mission to promote the development of trade and commercial activities between Oman and the United States, the OABC (subsidiary of the American Chamber of Commerce in Oman), in collaboration with the United States Embassy in Oman, organized a private roundtable on Tuesday 8 June. , from 3 p.m. to 4 p.m., with Rick Angiuoni, Business Development Specialist and Regional Director for Africa at the Export-Import Bank of the United States (EXIM), via ZOOM.

The roundtable introduced the main stakeholders and business leaders working in the main banks of Oman to the mission and services of EXIM Bank. Participants also discussed the status of financing opportunities already provided by EXIM Bank in Oman and discussed new ways to facilitate further trade and collaboration between EXIM Bank and Omani banks and companies.

The session included opening remarks by US Ambassador to Oman Leslie Tsou and a presentation by Rick Angiuoni, Business Development Specialist and Regional Director for Africa, EXIM.

As this was a private roundtable, only one representative per bank attended the session, in order to facilitate an active discussion.

“This roundtable follows the OABC webinar held in March 2021 and EXIM Bank’s $ 500 million memorandum of understanding signed earlier this year between EXIM Bank and the Oman Ministry of Foreign Affairs,” said Rick Angiuoni, who presented on behalf of EXIM Bank. “After the success of our first event with OABC, which shared with Omani companies the advantages and opportunities offered by the American bank EXIM, we decided that the first step on this momentum would be to organize a round table with Omani financial executives to discuss EXIM Bank as a cost effective source of funds in financing US exports for the benefit of Omani importers and to improve trade between the US and Oman.

“This session was very successful, and we thank our presenter and partners for an engaging discussion. Sessions like today’s roundtable provide better insight into approaches for using the US-Oman Free Trade Agreement and continue to foster investment and trade between Oman and the United States.

“Today’s event shows EXIM’s continued commitment to promote international trade by providing loans, commercial loan guarantees and export credit insurance for the export of US goods and services. to Oman and other markets, ”US Ambassador Tsou said. “EXIM is therefore an important tool in advancing our bilateral trade partnership, and we hope that the use of this tool by the private sector will continue to grow. We believe that more Omani entities taking advantage of EXIM products will advance bilateral trade opportunities and increase prosperity for Omanis and Americans. “

What is EXIM?
The Export-Import Bank of the United States (EXIM) is the United States’ official export credit agency. EXIM supports purchases of capital goods and ancillary services made in the United States by creditworthy international buyers who cannot obtain credit through traditional sources of trade finance. EXIM offers trade finance solutions and helps turn business opportunities into real transactions.

EXIM does not compete with private sector lenders but offers financing products that fill the gap in trade finance. It takes on country and credit risks that the private sector cannot or will not accept. EXIM also helps level the playing field for US businesses by matching the funding that other governments provide to their exporters. In over 85 years of activity, EXIM has supported more than $ 400 billion in US exports to international markets.

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