banking

Omani banks explore trade financing options with US EXIM Bank

June 10, 2021

Ongoing commitment: Latest roundtable follows EXIM Bank’s $500 million MOU signed earlier this year between EXIM Bank and Oman

In line with its mission to foster the development of trade and commercial activity between Oman and the United States, the OABC (US Chamber of Commerce affiliate in Oman), together with the US Embassy in Oman organised a private roundtable discussion on Tuesday 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 US Ambassador to Oman Leslie Tsou and a presentation by Rick Angiuoni (pictured), Business Development Specialist and Regional Director of Africa, EXIM.

“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 US exports for the benefits of Omani importers and to enhance US - 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 utilising 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 ongoing commitment to promoting international commerce by extending loans, commercial loan guarantees, and export credit insurance for the export of US goods and services to Oman and other markets,” US 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.” 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.

omanobserver

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