Thursday, November 30
02:06 PM

EXIM Bank supports Omani businesses in buying US products

28 May 2023

Muscat – The members of the Oman American Business Center (OABC), along with fellow Omani business leaders and senior government officials, took part in an informative session with the Export-Import Bank of the United States (EXIM) last week at the Diplomatic Club in Muscat.

The event was hosted in partnership with the Ministry of Foreign Affairs under the patronage of H E Tahir bin Salim al Amri, executive president of the Central Bank of Oman. The workshop discussed EXIM Bank’s financing tools, congressional mandates, and special initiatives, while highlighting global best practices of companies that have benefited from EXIM.

EXIM is the official export credit agency of the United States and supports the purchase of US-made capital equipment and ancillary services by international buyers. In more than 85 years of operation, EXIM has supported over US$400bn worth of US exports to international markets. EXIM finance products are now available to both the Omani private and public sectors when procuring American goods and services.

EXIM can provide loan guarantees and medium to long-term direct financing at attractive rates for those wanting to buy American products. Projects that are considered transformational, such as biotech, AI, renewable energy, fintech, wireless communications, and water treatment, may receive enhanced, competitive financing options.

This opportunity for Omani businesses to utilise EXIM products further strengthens the long-standing business ties between the United States and Oman while stimulating economic growth.

Ali Daud, founder and chairman of the Oman American Business Center, said, “Being able to import high-quality, innovative US products duty-free (under the FTA) along with highly competitive financing options through EXIM presents a tremendous opportunity for Omani businesses.”

He added, “As we look to achieve Oman’s Vision 2040, agreements and programs such as the FTA and EXIM can help us obtain the necessary infrastructure and technology, but it’s essential for businesses to take advantage of these opportunities.”

Companies interested in learning more about the Oman-US Free Trade Agreement, EXIM finance products, or being put into direct contact with an EXIM representative should contact the Oman American Business Center at [email protected] or call 9418 9500.

© 2021 Apex Press and Publishing. All Rights Reserved. Powered by Mesdac