TEXT: U.S. EX-IM BANK MAY FINANCE U.S. EXPORTS TO VIETNAM
(Has cover policy for financing exports to public sector)

Washington -- The Export-Import Bank of the United States (Ex-Im Bank) is open to consider export financing to support U.S. goods and services sold to Vietnam, according to a recent statement from that agency.

In a release dated April 10, Ex-Im Bank said the recent presidential determination that it is in the "national interest" for Ex-Im Bank to finance exports to Vietnam enables export financing otherwise prohibited under a provision of the Export-Import Bank Act that bars financing to Marxist-Leninist countries.

That action, and President Clinton's waiver of the Jackson-Vanik Amendment of the 1974 Trade Act, are the latest steps in the process of normalizing relations and opening trade between the United States and Vietnam.

Following is the official text of the Ex-Im Bank release:

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Ex-Im Bank
Press Release

FOR IMMEDIATE RELEASE

April 10, 1998

EX-IM BANK OPEN TO FINANCE U.S. EXPORTS TO VIETNAM

The Export-Import Bank of the United States (Ex-Im Bank) is open to consider export financing to support U.S. goods and services sold to Vietnam. Ex-Im Bank has a cover policy for opening short- and medium-term financing of exports to the public sector of Vietnam, backed by a sovereign guarantee from Vietnam.

"Ex-Im Bank looks forward to helping U.S. companies in this emerging market," Ex-Im Bank President and Chairman James A. Harmon said. "Vietnam is a rapidly developing country that offers great business opportunities for U.S. companies. A prudent opening of our short- and medium-term financing in the public sector will enable U.S. exporters to compete on a level playing field."

The recent presidential determination that it is in the "national interest" for Ex-Im Bank to finance exports to Vietnam enables export financing otherwise prohibited under a provision of the Export-Import Bank Act that bars financing to Marxist-Leninist countries. President Clinton also signed a waiver of the Jackson-Vanik Amendment of the 1974 Trade Act. These actions are the latest steps in the process of normalizing relations and opening trade between the United States and Vietnam.

Ex-Im Bank is an independent federal agency that promotes and finances the sales of U.S. goods and services around the world.

Export-Import Bank of the United States April 10, 1998.

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