The Export-Import Bank of the United States (EXIM) signed a Memorandum of Understanding (MOU) in an amount of up to $500 million with the Ministry of Finance of the Sultanate of Oman. EXIM President and Chair Reta Jo Lewis signed the MOU alongside His Excellency Abdullah bin Salim Al Harthi, Undersecretary of the Ministry of Finance of Oman, and U.S. Undersecretary of State for Economic Growth, Energy, and the Environment, Jose Fernandez.
“EXIM’s partnership with Oman is a testament to the vision and dedication both our nations have in promoting economic growth and relationships,” said Chair Lewis. “Signing this new MOU will pave the way for many meaningful projects, and it represents the culmination of months of hard work and collaboration between our nations. We are thrilled and eager to support the new opportunities for businesses in both of our countries that may result from our deepening partnership.”
The MOU focuses specifically on furthering the goal of facilitating procurement of U.S. goods and services for government projects in the Sultanate of Oman, specifically in the wireless communication, biotechnology, renewable energy, agriculture, and manufacturing sectors, among others. This MOU signing comes after the inaugural U.S.-Oman Strategic Dialogue, which Chair Lewis also participated in, focused on spurring bilateral trade and investment, developing clean energy solutions, and strengthening cultural and educational ties between both countries. The U.S. Department of Commerce and Assistant Secretary of State for Near Eastern Affairs Barbara Leaf also took part in the U.S. delegation.
While in Oman, Chair Lewis also met with government leaders and partners to build and deepen relationships, create new opportunities for U.S. exporters looking to do business in the country or region, and promote economic growth.