Readout from EXIM Chairman Kimberly Reed's Meeting with Uzbekistan's Minister of Investments and Foreign Trade Sardor Umurzakov
Washington, D.C. - Kimberly A. Reed, president and chairman of the Export-Import Bank of the United States (EXIM) met yesterday at EXIM headquarters with Sardor Umurzakov, minister of Investments and Foreign Trade of Uzbekistan, to discuss building a targeted, strategic partnership between the United States and Uzbekistan to increase trade between the two countries and explore how EXIM could facilitate Uzbekistan's purchases of 'Made in the USA' products and services for the country's economic development.
In the meeting, Minister Umurzakov noted Uzbekistan's steps to implement its economic goals and the progress to date towards the country's World Trade Organization accession. He also expressed Uzbekistan's interest in utilizing the $100 million in potential EXIM financing announced in a memorandum of understanding that EXIM signed with the National Bank of Uzbekistan in May 2018. Chairman Reed and Minister Umurzakov discussed the importance of transparency and good governance, as well as numerous sectors in Uzbekistan to which EXIM could provide financing for U.S. exports, including agriculture, infrastructure, transportation, and high-tech industries.
Additional officials from Uzbekistan who participated in the meeting were Uzbekistan's Ambassador to the United States Javlon Vakhabov; Laziz Kudratov, first deputy minister of Investments and Foreign Trade; Rukhullo Zikrillaev, trade and economic counselor at the Embassy of Uzbekistan in the United States; Akbar Rasulov, department head at the Ministry of Investments and Foreign Trade; and Mukhamadjon Makhmudov, chief specialist at the Ministry of Investments and Foreign Trade.
ABOUT EXIM:
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to overseas purchasers of U.S. goods and services. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, 90 percent of the total number of the agency's authorizations has directly supported small businesses.