Webinar to highlight trade financing solutions between Oman and United States

Business Sunday 28/February/2021 17:51 PM
By: Times News Service
Webinar to highlight trade financing solutions between Oman and United States

Muscat: In line with its mission to foster the development of trade and commercial activity between Oman and the United States, the Oman American Business Centre (OABC) will host an informational webinar on March 3, from 5 - 6 pm entitled 'Introduction to the Export-Import Bank of the United States (EXIM),' in partnership with the U.S. Embassy Muscat.

The session will feature opening remarks by Asila bint Salim Al-Samsami, Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion, and US Ambassador to Oman Leslie Tsou and a presentation by Rick Angiuoni, Business Development Specialist and Regional Director of Africa, EXIM.

Angiuoni will discuss the International Buyers Programme, 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 per cent of the contract amount (depending upon US content) after a cash payment of at least 15 per cent.

As the event is free of charge and opens to all individuals and organisations 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.

"The OABC is bringing a unique opportunity to Omani companies by introducing them to the US EXIM Bank," says Ali Daud, Chairman of the OABC. "As the official affiliate of the US Chamber of Commerce in Oman, OABC’s mission is to support the strong commercial relationship between Oman and the US and to regularly highlight the unique ways in which Omani businesses can take advantage of the US-Oman Free Trade Agreement. Twenty countries in the world today have an FTA with the US, including just 4 in the Mena region. In addition to importing and exporting products from the U.S. duty-free, Omani companies can access incredible financing opportunities through EXIM, allowing them to grow their businesses and increase their competitiveness in the region. We are honoured to partner with the US Embassy Muscat to host this valuable presentation.”

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 US 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 US exports to international markets.

The Oman American Business Centre (OABC), founded in 2003, is Oman’s most active business networking organisation and is known for hosting high-level professional events and informational sessions for executives and business owners across the Sultanate.