March 25, 2013
/PRNewswire-USNewswire/ -- The Export-Import Bank of
the United States
(Ex-Im Bank) announced a new marketing partnership for the Monterey Bay International Trade Association (MBITA), a non-profit organization in northern California. The City/State Partners program contract will accelerate export business by connecting Bank products and services to MBITA's network of entrepreneurs and financial institutions in the counties around
and its ports.
)Members of MBITA represent small and mid-sized businesses throughout the tri-county region of the Monterey Bay and Silicon Valley. This association helped start the BAYTRADE program in 1995, which generated more than six thousand new jobs during its first five years. MBITA also manages the TradePort Collaborator, an intranet of more than 140 trade promotion service professionals who represent more than 60,000 exporters, importers, trade promotion service providers, and private investors.
"By entering this partnership with MBITA, Ex-Im Bank joins forces with thousands of experienced businesses that share our aim of expanding U.S. exports and creating jobs," said Ex-Im Bank Chairman and President
Fred P. Hochberg
. "For eighteen years, MBITA has linked business resources with clients throughout the world. Now through our partnership, the Bank adds expanded access to its services and products to help accelerate export sales and job growth."
, president of MBITA, explained why Ex-Im Bank's City/State Partnership is a boon to high-tech exporters: "MBITA's and TradePort's clients and members tend to be on the cutting edge of technologies," he said. "Sometimes they feel an export-financed transaction into a new foreign marketplace gives them a better footing to grow their companies, as opposed to using their own financing to break into our very competitive domestic markets."
The Monterey Bay trade association started in 1984 as a volunteer-run business, and upgraded to a 501 C-6 corporation in 1995 when it became a founding member of a public-private sector export promotion program called BAYTRADE. The U.S. Department of Commerce helped to support the program, which researched the international trade needs of employers across sixteen Congressional districts. BAYTRADE consolidated its large service and knowledge network into an established global trade website managed by MBITA as
for the past six years. MBITA now is a self-sustaining organization funded by memberships, corporate sponsorship, events, and fee-based trade promotion services. It is developing new services such as the California Industrial Cluster Tour and MBITA Strategic Alliance Service.
The purpose of the City/State Partners program is to ensure that the Bank's export finance programs are more accessible to small and medium-sized business through the help of local, state, and regional economic development and business support organizations.