Chairman Encourages Mexican Businesses to "Buy American"
MEXICO CITY, March 18, 2013 /PRNewswire-USNewswire/ -- Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States (Ex-Im Bank), concluded a successful business-development mission in Mexico March 13 – March 15. During his visit, Hochberg met with local businesses and government leaders to promote Ex-Im Bank financing. The Bank's financing helps support the purchase of U.S. goods and services by Mexican buyers.
"As our nation's leading trading partner and Ex-Im Bank's top customer, Mexico provides enormous opportunities for American businesses and workers," said Hochberg. "I am pleased with the outcome of our meetings and look forward to continuing to work with our partners in Mexico on projects that boost our nations' economies and create jobs on both sides of the border."
"With bilateral trade of over half a trillion dollars in 2012, Mexico is our second-largest export market and our third-largest source of imports," Ambassador Wayne said. "Supply chains are integrated across the border and thousands of jobs on both sides of the border depend on smooth, open bilateral trade. I am grateful for Chairman Hochberg's visit and to our Mexican government and private sector counterparts for looking for new ways to build on our strong economic partnership."
While in Mexico City, Hochberg met several business and financial leaders, including Enrique de la Madrid Cordero, director of Bancomext; Carlos Slim Domit, chairman of board, Grupo Carso; Andres Conesa, chairman of AeroMexico; Eduardo Tricio, chairman of Grupo Industrial Lala; Claudio X. Gonzalez, chairman of Consejo Mexicano de Hombres de Negocios; Alejandro Alonso, CEO of Aerolineas Ejecutivas; Emilio Lozoya Austin, director general of PEMEX; Francisco Rojas, director of CFE; Agustin Carstens, governor of Mexico´s Central Bank; and Luis Videgaray, secretary of Hacienda, Ministry of Treasury.
Mexico is one of nine key markets (others are Brazil, Colombia, Turkey, South Africa, Nigeria, India, Indonesia and Vietnam) where Ex-Im Bank is focusing its business-development efforts because of the country's infrastructure and development needs. Mexico is currently the largest market exposure in Ex-Im's portfolio ($8.5 billion in FY'12).
About Ex-Im Bank
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.
Ex-Im Bank approved nearly $35.8 billion in total authorizations in FY 2012 – an all-time Ex-Im record. This total includes more than $6.1 billion directly supporting small-business export sales – also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $50 billion in U.S. export sales and approximately 255,000 American jobs in communities across the country. For more information, visit www.exim.gov.
SOURCE Export-Import Bank of the United States