Highlights October Meeting with President Bolsonaro, EXIM’s Recent $1 Billion MOU with Brazil Ministry of Economy to Enhance U.S.-Brazil Alliance and Economic Cooperation
In an event co-hosted with global law firm Squire Patton Boggs, Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed addressed the Brazil-Florida Business Council (BFBC), highlighting her October visit to Brazil and underscoring how the export of “Made in the USA” goods and services to Brazil can strengthen and support jobs in both countries.
During the December 16 event with more than 75 registrants on the 6th anniversary of BFBC, Chairman Reed recounted her October visit to Brazil, when she joined U.S. government colleagues as part of the largest U.S. delegation to visit Brazil in recent times. The economic delegation, led by U.S. National Security Advisor Ambassador Robert O’Brien, visited São Paulo and Brasilia to focus on how a strong U.S.-Brazil relationship can promote freedom, economic growth, jobs, and prosperity for both countries.
In addition, Chairman Reed and Brazil’s Minister of the Economy Paulo Guedes signed a $1 billion Memorandum of Understanding with Brazilian President Jair Bolsonaro, Ambassador O’Brien, Brazilian Minister of Foreign Affairs Ernesto Araújo, and U.S. Ambassador to Brazil Todd Chapman participating in the signing ceremony at Palácio Itamaraty in Brasilia. Chairman Reed also met with Brazilian Development Bank (BNDES) President Gustavo Montezano.
“It was an honor to join the Brazil-Florida Business Council on their sixth anniversary to underscore how the United States and Brazil are committed to freedom, economic growth, and prosperity in both countries. Today, EXIM is actively working with U.S. exporters in the nuclear, solar, and energy storage sectors for large-scale, high-profile projects in Brazil,” said Chairman Reed. “As I said to President Bolsonaro and U.S. National Security Advisor Robert O’Brien during our EXIM-Brazil Ministry of the Economy $1 billion MOU signing ceremony in October in Brasilia, EXIM is committed to the shared vision of expanding bilateral trade and investment between our two countries. BFBC and Florida exporters and workers also play an important role in this effort.”
Also participating in the event were:
- Ambassador João Mendes Pereira, Consul-General of Brazil in Miami.
- Sueli Bonaparte, Founding President and Chairman of the Board, Brazil-Florida Business Council.
- Arnaldo Carrera, Vice President, Brazil-Florida Business Council.
- Paula Galhardo, Principal and Chair of Brazil Desk, Squire Patton Boggs.
- Gabrielle Mandel, Brazil Country Manager, U.S. Trade and Development Agency (USTDA).
- Paula Swain, EXIM Project Finance Division.
In his remarks, Ambassador Pereira noted that as part of the U.S. delegation trip to Brazil, the United States and Brazil updated the agreement on trade and economic cooperation by signing a new protocol on trade rules and transparency. “Glancing ahead, the Protocol is evidence that Brazil and the United States can successfully deepen their trade relationship in ways that are beneficial to both countries and emphasizes both countries' commitments to continuing to explore ways to increase trade in goods and services and encourage further investment,” he said.
“This kind of platform provides an exceptional opportunity to foster bilateral trade, investment opportunities, job creation, and economic growth for both countries,” said Sueli Bonaparte of BFBC. “We are delighted that Chairman Kimberly Reed was able to showcase the immense opportunities for American goods and services for Brazilian buyers and businesses.”
“Squire Patton Boggs was very pleased to be able to co-host this unique event, not only to hear about the positive developments going on with U.S.-Brazil trade, but to help shine the light on the opportunities for U.S. exporters to leverage the programs that EXIM offers in Brazil in several sectors including telecom, energy, infrastructure, logistics, mining, and manufacturing,” said Paula Galhardo of Squire Patton Boggs, who moderated the panel discussion.
In addition, the speakers outlined how U.S. businesses, particularly small businesses, can leverage EXIM’s financing tools and resources to increase their international sales, showcase their “Made in the USA” products, and sustain American jobs. By partnering with EXIM, exporters can mitigate the risk of nonpayment on international sales, offer credit terms to foreign buyers, and access working capital loan guarantees. They also underscored EXIM’s COVID-19 relief measures for U.S. exporters and financial institutions that enhance the agency’s existing programs.
The Brazil-Florida Business Council is an independent, not-for-profit business association based in Tampa, Florida, that works to forge closer ties between the business communities of Brazil and Florida by fostering bilateral trade and investment opportunities in both regions.
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. 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, approximately 90 percent of the total number of the agency’s authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.
For more information about EXIM, please visit www.exim.gov.