Rep. Honda Hosts Forum to Increase Local Business Exports and Create Jobs

Press Release

More than 60 principals from Silicon Valley companies attended a forum today hosted by Rep. Mike Honda (D-Calif.) and the U.S. Export-Import Bank aimed at increasing exports from local businesses. The Congressman was joined by Ex-Im Bank board member Patricia Loui and economic experts from the Departments of State and Commerce for roundtable discussions on identifying overseas markets, protection from credit risk, and the variety of financial products available from the bank.

Remarked Rep. Honda at the event: "Increasing exports among small and mid-sized businesses here in Silicon Valley is key to growing the region's economy as we continue to gradually recover from the economic downturn. With such a valuable resource in the Export-Import Bank, I am glad that so many Bay Area firms could join us today to put themselves in greater control of their sales and outreach."

"President Obama challenged the nation to double its exports by 2015," explained Director Loui in her opening remarks. "That's why the Ex-Im Bank and Congressman Honda are doing all we can to equip small businesses in Silicon Valley with the tools they need to successfully compete in global markets, particularly in Asia and the Pacific Islands. Given that the Bay Area is a direct commercial link between the U.S. and Pacific Rim -- and exports to Asia already represent a growing percentage of U.S. trade activity -- business owners here face an excellent economic opportunity. The Ex-Im Bank's goal is to ensure that entrepreneurs know about the tools we can provide to limit risk, increase available capital, and expand business."

In addition to small business owners in fields as diverse as computer technology, construction supply, and organic food production, the event featured remarks from Dilawar Syed, a member of the President's Advisory Commission on Asian Americans and Pacific Islanders, Lorraine Hariton, Special Representative for Commerce and Business Affairs at the Department of State, and Joanne Vliet, Director of the Export Assistance Center at the Department of Commerce.

The Ex-Im Bank authorized nearly $60 million to companies in the 17th district in 2012. Silicon Valley is the nation's 5th largest region by export volume.

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