October 9, 2020, 2:00 pm
Export-Import Bank, Washington, D.C.
Chairman Reed,
Minister Popescu,
Friends and Guests,
This is a great day for Romania and for the United States. Chairman Reed, you and your fantastic team made this happen! Under your leadership, and President’s Trump vision of promoting American business, EXIM has enabled American companies to compete around the world. This has helped not only the United States, but our allies as well. Our longtime friends are no longer relegated to Chinese and Russian malign predatory financing practices for infrastructure development. Our allies can now provide much needed infrastructure development for their people using good, clean, quality American companies and technologies. Chairman Reed, I thank you for your hard work and dedication!
Under our Strategic Partnership, the United States and Romania aim to increase our mutual prosperity by growing our bilateral trade and investment. Our bilateral trade has exceeded $3 billion annually for the past three years, and our investment in each other’s economies runs into the billions of dollars. Romania has become an important gateway for U.S. companies to the European Union. Romanian companies are creating ever more jobs on American soil. The commercial activities between our countries are continually increasing.
The initialing of this Memorandum of Understanding today by EXIM and Romania is clear and robust evidence of the deepening security and economic cooperation between our countries. This is the largest financing package of its kind to date between the United States and Romania. This is an unequivocal reaffirmation of the close bilateral relationship between Romania and the United States have achieved over the last year.
I commend Prime Minister Orban’s plans for Romania’s economic development and infrastructure development. Reliable financing is an essential part of this undertaking. EXIM’s commitment is integral to Romania’s economic development. The favorable terms of its financing has knitted together countless partnerships between the United States and its allies.
I am very positive about the development opportunities this agreement will support in Romania, particularly in the energy and infrastructure sectors. Nuclear energy and telecommunications are critical areas of bilateral cooperation and commercial development. The United States is committed to supporting Romania in developing infrastructure key to its national defense and future prosperity. From power plants to roads, rail system and ports, better infrastructure is at the core of improving Romania’s economy and Romanians’ living standards, further developing our trade and investment relationship, and integrating Romania’s economic market with its trade partners’ economies. Together we will build a Romania that is more secure, economically vibrant and resilient.
Earlier today the United States and Romania also signed an intergovernmental cooperation agreement that will facilitate the construction of two new nuclear reactors and the refurbishment of another. This multibillion dollar project is a clear example among many projects in Romania which will benefit from EXIM financing.
Chairman Reed, the support of you and your team at EXIM is central to achieving our ambitions for the dynamic, durable, bilateral relationship between the United States and Romania that we continue to expand and develop! Your recognition of the vital role EXIM plays has yielded invaluable momentum and opportunities. With today’s MOU providing for billions of dollars in financing and guarantees, you have opened the door to enormous opportunities for Romania and for the United States!
I look forward to working together with you, EXIM and Prime Minister Orban’s government in the months and years ahead to build roads, infrastructure and other projects so we can realize Romania’s remarkable potential!
Thank you and God bless you!
