In line with its mission to foster the development of trade and commercial activity between Oman and the United States, the Oman American Business Center (OABC) will host an informational webinar on March 3, entitled ‘Introduction to the Export-Import Bank of the United States (EXIM),’ in partnership with the U.S. Embassy Muscat.
The session will be introduced by OABC Vice President Fouad Eid. It will feature 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. Mr. Angiuoni will discuss the International Buyers Program, with loan guarantees and direct loans for international companies, long-term financing of up to 14 years, and details on specific opportunities: for example, EXIM can support up to 85% of the contract amount (depending upon U.S. content) after a cash payment of at least 15%.
As the event is free of charge and open to all individuals and organizations within Oman’s public and private sector, the OABC is encouraging those with interest in trade financing or importing US goods and services to please register and attend at www.oabc.org/events.
The event will be hosted online from 5 – 6 pm (Oman Time), Wednesday, March 3rd.
“As 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, says Ali Daud, Chairman of the OABC. ”20 countries in the world today have an FTA with the U.S, including just 4 in the MENA region. We are hopeful that this session will introduce companies in Oman (that can already import products from the U.S. duty-free) to other incredible opportunities to grow their businesses and increase their competitiveness within the region. We are honored to partner with the U.S. Embassy Muscat and introduce EXIM Bank to Oman’s business community.”
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.