EXIM Bank supports Oman businesses in buying US products

MUSCAT: Oman American Business Centre members, along with fellow Oman 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. This event was hosted in partnership with the Ministry of Foreign Affairs under the auspices of Tahir bin Salim al Amri, Executive President of Oman Central Bank. The workshop discussed EXIM’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 purchases of US-made capital equipment and ancillary services by international buyers. In more than 85 years of operation, EXIM has supported more than $400 billion of US exports to international markets, and EXIM finance products are now able available to both the Oman private and public sector 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 Oman businesses to utilize EXIM products further strengthens the long, strong business ties between the United States and Oman while stimulating economic growth.

Ali Daud, Founder and Chairman of the Oman American Business Centre commented “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 Oman businesses”. He further goes onto say “As we look to achieve Oman’s 2040 vision, agreements and programs such as the FTA and EXIM can help get us the necessary infrastructure and technology but it’s essential businesses take advantage of these opportunities”.

Companies wanting to learn more about the Oman-US Free Trade Agreement, EXIM finance products or be put into direct contact with an EXIM representative should contact the Oman American Business Centre at info@oabc.org or call 9418 9500.