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The Oman American Business Center highlights trade financing opportunities with the Export-Import Bank of the United States

June 8 roundtable introduced key stakeholders from top banks in the Sultanate to discuss trade and financing opportunities with the Export-Import Bank of the United States.

TAS News Service

info@thearabianstories.com

Wednesday, June 9, 2021

MUSCAT :  In line with its mission to foster the development of trade and commercial activity between Oman and the United States, the OABC (U.S. Chamber of Commerce affiliate in Oman), together with the U.S. Embassy in Oman organized a private roundtable discussion on Tuesday, June 8, from 3-4 PM, with Rick Angiuoni, Business Development Specialist and Regional Director of Africa at the Export-Import Bank of the United States (EXIM), via ZOOM.

The roundtable discussion introduced key stakeholders and Heads of Corporate working in the top banks of Oman to the mission and services of EXIM Bank. Attendees also discussed the status of financing opportunities already provided by EXIM Bank in Oman and discussed new ways to facilitate additional trade and collaboration between EXIM Bank and Omani banks and companies.

The session featured opening remarks by U.S. Ambassador to Oman Leslie Tsou and a presentation by Rick Angiuoni, Business Development Specialist and Regional Director of Africa, EXIM.  

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

“This roundtable follows the OABC webinar held in March 2021 and EXIM Bank’s $500 million MOU signed earlier this year between EXIM Bank and the Foreign Ministry of Oman,” says Rick Angiuoni, who presented on behalf of EXIM Bank. “After the success of our first event with the OABC, which shared with Omani companies about the benefits and opportunities provided by the US EXIM Bank, we decided the step to build on this momentum would be to host a roundtable meeting with Omani finance executives to discuss EXIM Bank as a source of efficient cost of funds in financing U.S. exports for the benefits of Omani importers and to enhance U.S. – Omani trade.”

“This session was a very successful one, and we thank our presenter and partners for an engaging discussion. Sessions like today’s roundtable provide more insight into approaches for utilizing the U.S. –  Oman Free Trade Agreement, and continue to foster investment and trade between Oman and the United States.”

“Today’s event shows EXIM’s ongoing commitment to promoting international commerce by extending loans, commercial loan guarantees, and export credit insurance for the export of U.S. goods and services to Oman and other markets,” U.S. Ambassador Tsou stated.  “EXIM is therefore an important tool to advance our bilateral trade partnership, and we hope the private sector’s use of this tool will continue to grow. We believe that having more Omani entities take advantage of EXIM products will advance bilateral commercial opportunities and increase prosperity for Omanis and Americans alike.”

What is EXIM?

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

EXIM does not compete with private-sector lenders but provides financing products that fill the gaps in trade financing. It assumes country and credit risks that the private sector is unable or unwilling to accept. EXIM also helps to level the playing field for U.S. companies by matching the financing that other governments provide to their exporters. In more than 85 years of operation, EXIM has supported more than $400 billion of U.S. exports to international markets.

The Oman American Business Center (OABC), founded in 2003, is Oman’s most active business networking organization and is known for hosting high-level professional events and informational sessions for executives and business owners across the Sultanate.  It is the official affiliate of the U.S. Chamber of Commerce in Oman.  OABC’s mission is to support the strong commercial relationship between Oman and the U.S., and to regularly highlight unique ways to take advantage of the U.S. – Oman Free Trade Agreement.

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