Recommendations for Improving EXIM Operations to Serve You Better |
Dear Colleagues,
I have just returned from overseas. Each trip deepens my commitment to international trade and to creating more opportunities for Delaware companies to expand their reach overseas. Part of that responsibility to you includes serving, when I can, on U.S. government or multilateral advisory councils and committees that allow me to access additional resources for Delawareans and to convey the needs of Delawareans to government policymakers and legislators in ways that will result in significant benefits for our community.
Each year, the Export-Import Bank of the United States (EXIM) is required by law to submit a "Report on Global Export Credit Competition to Congress." The report for calendar year 2023 is the 57th edition of EXIM’s “Competitiveness Report” and is a “worldwide survey of official medium- and long-term (MLT) export credit provided between January 1 and December 31, 2023, and an account of U.S. exporter and lender experiences with EXIM during that period.” The report compares EXIM’s performance and stakeholder perceptions with those of other Export Credit Agencies (ECAs). It includes a review of important programs mandated by Congress, such as the China and Transformational Exports Program (CTEP) and the flagship Make More in America initiative (MMIA) developed to increase our competitive position in securing business in other parts of the world. Other sections of the report included statistics on financing by purpose, co-financing, comments on U.S. flag shipping requirements, etc.
The 2023-24 Advisory Committee reviewed this report and includes the recommendations of the subcommittees, which include a focus on sub-Saharan Africa, China competition, climate, the Council on Small Business, and the Council on Advancing Women in Business. I was privileged to serve on the FY 23-24 Council on Small Business and contributed to both the Finance Subcommittee and the Perception & Outreach Subcommittee.
We said:
“Small businesses, particularly minority, women-owned, and nontraditional EXIM partners, have unique financing needs that traditional financing may not meet. Credit insurance policies and working capital facilities that are customized to the specific needs of small businesses will help improve access to financing for small businesses across the board.” We also recognized the need to increase “ease and access of engagement with EXIM,” for both customers and lenders and we developed the actions necessary.
During the first quarter of 2024, the Outreach & Perception Subcommittee partnered with the board of directors of the National Association of District Export Councils (NADEC) to conduct a broad survey of the export community regarding EXIM. The Mid-Atlantic District Export Council, on which I serve, is part of NADEC. “The results of that survey reflected strong support for the agency.” However, we recognized that small-business owners and the staff of very small financial institutions such as “community banks, credit unions, CDFIs, and Revolving Loan Funds” that serve small businesses may not be aware of the range of services offered by EXIM. We recommended a robust communications program utilizing various platforms, including social media and dedicated web pages, to reach both lenders and potential customers. Among other actions, we also recommended establishing a mentor program for lenders and exporters that brings experts from the EXIM community, including the councils, REPP members, such as World Trade Center Delaware, and the regional Federal Reserve banks.
Many of the Small Business Council recommendations apply to the concerns raised by the Council on Advancing Women in Business, on which I also serve this year. While both councils made a number of highly technical recommendations that could be handled internally, others, such as allowing EXIM to “follow the same policies followed by other federal agencies responsible for supporting U.S. exports, such as the U.S. Commercial Service and SBA’s Office of International Trade, will require congressional action. The Council on Advancing Women in Business specifically identified issues dealing with defense-related sales as well as sales” to international public-safety/police buyers without the additional burden of waiting for State Department clearance,” among other issues that needed to be addressed.
To read the entire report, which includes all of the Council on Small Business and the Council on Advancing Women in Business recommendations, as well as those from other advisory councils and committees, please go to img.exim.gov/s3fs-public/documents/exim_2024_competitiveness_report.pdf. Let me know how we can streamline and improve EXIM operations to be more responsive to your needs.
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Carla Sydney Stone
President
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Stone Joins the Community Advisory Board at WHYY | |
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WTC Delaware President Carla Stone’s achievements in community engagement have earned her a place among distinguished individuals who value public media. As a member of WHYY’s Community Advisory Board (CAB), her role is to act as a two-way conduit of information, sharing the latest updates from WHYY with her network while providing ideas and feedback to station leadership. Her commitment to this shared vision and purpose will help strengthen ties between WHYY and the communities it serves. | |
Happy Diwali from World Trade Center Delaware | |
WTC Delaware Intern Sooyoung Lee Completes Main Street in Newark, Supporting Local Charity | |
WTC Delaware Sooyoung Lee recently achieved a personal milestone by participating in the Main Street Mile in Newark, Delaware, an annual event that combines fitness and philanthropy. The race, held at 9:00 a.m., October 5th, featured a scenic route through the heart of Newark and brought together participants to support Friends of Fusion Foundation, a non-profit organization dedicated to assisting children and first responders in Delaware.
The race kicked off on Main Street with cool, refreshing weather providing ideal conditions for runners. Sooyoung and other participants enjoyed the lively atmosphere and the unique opportunity to race through Newark’s vibrant downtown. Following the event, Sooyoung joined in a post-race breakfast, exchanging stories and connecting with fellow runners, celebrating their physical achievements and the event’s charitable impact.
In preparation for the race, Sooyoung spent about a month training with friends and roommates, running at Newark Reservoir to build endurance. This commitment to regular training helped improve performance and fostered a sense of camaraderie among the group.
Though not aiming for an award, Sooyoung found the experience deeply meaningful. “The Main Street Mile wasn’t just about completing the race—it was about supporting a great cause and connecting with the community,” Sooyoung reflected. The event will remain a memorable part of Sooyoung’s time in the U.S., symbolizing personal achievement and contributing to a worthy cause.
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WTC Delaware's Sooyoung Lee Joins Seong-Jin Cho's Performance with Philadelphia Orchestra | |
In addition to her recent marathon accomplishment, Sooyoung had the pleasure of attending a remarkable concert featuring South Korea’s world-renowned pianist, Seong-Jin Cho, in collaboration with the Philadelphia Orchestra. The performance, which took place on Sunday, September 29, marked the orchestra's 125th opening concert and was conducted by the celebrated Yannick Nézet-Séguin.
The evening’s program featured Beethoven’s Piano Concerto No. 2 in B-flat Major, Op. 19, a work known for its vibrant energy and intricate interplay between the solo piano and the orchestra. Composed during Beethoven’s early years, this concerto reflects the composer’s classical roots while hinting at the bold, innovative style that would define his later works. The performance of this piece, with its playful yet sophisticated melodies, made for an extraordinary experience.
Seong-Jin Cho, often hailed as one of the finest pianists of his generation, has garnered international acclaim since winning the prestigious International Chopin Piano Competition in 2015. His technical mastery and deep emotional expression have made him a leading figure in the classical music world. Watching Cho deliver such a breathtaking performance in collaboration with one of the world’s finest orchestras was a deeply moving experience for Sooyoung, who has a profound love for classical music.
The significance of this concert went beyond the music itself. As the Philadelphia Orchestra’s 125th opening concert, it represented an important cultural moment for both the city and the classical music community. For Sooyoung, witnessing such a historic event, combined with the artistry of Seong-Jin Cho and the power of Beethoven’s concerto, made it an unforgettable and inspirational evening.
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Submit Your Nominations for the Unsung Hero 2025 Recognition Program | |
Submissions are due by December 31, 2024
Do you know people who deserve recognition for the hard work they put into serving their customers and our port or always go above and beyond the call of duty?
Now is the perfect opportunity to highlight these exemplary employees, co-workers, and colleagues by nominating them for Unsung Hero recognition.
Please email the nominees’ first and last names, job titles, and company names of up to three of your nominees per member company to hero@maritimedelriv.com to be profiled in The Beacon.
The rules are simple: Unsung Hero nominees must be Maritime Exchange members and be nominated by Maritime Exchange members. That’s it. We should also note that past recipients of industry awards are not eligible.
All submissions for this cycle are due by December 31—don’t miss the chance to honor an extraordinary member of our community!
Check out the recipients of our recent Unsung Hero Awards here.
Questions? Contact hero@maritimedelriv.com.
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Industry Guidance Updated to Prevent Evasion of Russian Export Controls and Sanctions | |
Since February 2022, the G7 nations and the European Union have enforced strict export controls and sanctions against Russia to limit its access to key technologies and materials for military operations in Ukraine. Coordinated with the Global Export Control Coalition (GECC), these measures have significantly impacted Russia’s weapons development and economy. In 2023, the G7 created an Enforcement Coordination Mechanism (ECM) to enhance compliance and prevent the diversion of controlled items. The guidance includes a list of high-risk items, red flags for evasion, and best practices for industry compliance. | |
Biden-Harris Administration Targets Unsafe De Minimis Shipments to Protect Consumers and Workers | |
The Biden-Harris Administration is taking action to address the abuse of the de minimis exemption, particularly by China-based e-commerce platforms. The increase in low-value shipments has complicated enforcing U.S. trade, safety, and consumer protection laws. The administration plans new regulations to reduce these shipments and improve compliance, targeting products covered by tariffs and enhancing data collection. They also call on Congress to pass comprehensive reforms to protect American consumers, workers, and businesses from unfair competition and illegal imports. | |
WTC Delaware provides a full range of international trade-related services with an in-depth focus on the export/import of services and manufactured goods. These pages contain brief information on opportunities that could offer exciting possibilities for U.S. companies in various industry sectors.
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BRAZIL: Supplements and Medical Care Products
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EL SALVADOR: Drones, ECG Electrodes, and Medical Equipment
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GHANA: ULV Cold Fogger Devices
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PAKISTAN: Lightweight Artificial Limbs/Prostheses
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THAILAND: Healthcare and Senior Living Services
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GERMANY: E-Coating Supplier
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NIGERIA: Government Oil Licensing Bid Round
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FIJI: Biogas Digesters
View the most recent trade leads here.
Delaware companies: Please fill out our trade leads form so we can market your products or services!
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World Trade Center® Delaware is the State’s premier international business resource. We help companies, especially small, medium-sized and emerging enterprises, to grow their international business. We provide trade leads, training programs, job leads, networking, matchmaking, trade mission and reverse trade mission opportunities for Delaware companies. We serve all types of companies in various sectors including agriculture, environmental remediation, IT, medical equipment manufacturing, biopharmaceuticals, financial, legal and real estate services. For more information visit us at www.wtcde.com. | |
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New Castle, DE 19720
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