U.S. EXPORT GROUP BACKS MERRILL NOMINATION TO EXIM BANK PRESIDENT
A group of large U.S. exporters have thrown their support behind the nomination of Philip Merrill to president of the Export-Import Bank.
“In nominating Mr. Merrill, the president has chosen an individual who would bring a solid combination of experience and accomplishment in both the business world and government service,” said Edmund B. Rice, president of Washington-based Coalition for Employment through Exports, in a written statement to the Senate Banking, Housing and Urban Affairs Committee for Merrill’s nomination hearing Oct. 4.
“Experience in both of these sectors is important in leading the bank as it grapples with difficult issues related to globalization and U.S. competitiveness in world markets,” Rice said.
The coalition includes 30 companies and trade associations, such as Association of Manufacturing Technology, Boeing, Caterpillar, Deere & Co., GE Capitol, Oracle Corp., United Parcel Service, and Westinghouse Electric Co.
Sen. Paul S. Sarbanes, D-Md., chairman of the Senate Banking Committee, encouraged Merrill to keep his door open to the council and labor unions if he’s confirmed to EXIM Bank president.
“One of the major economic challenges our country faces is competition in international trade,” Sarbanes said. “As long as that competition is based on the price and quality of the goods and services being sold, I am confident that U.S. exporters can do very well.”
“However, when other governments provide export subsidies to their companies, then U.S. exporters are placed at a competitive disadvantage that they cannot be expected to meet on their own,” Sarbanes added. “The Export-Import Bank exists to help U.S. exporters to level the playing field by matching the subsidies offered by foreign governments and allowing our exporters to compete on the basis of price and quality.”
The Bush administration nominated Merrill for EXIM Bank president at the beginning of the month. Merrill is currently chairman of Annapolis, Md.-based Capital Gazette Communications, which publishes “The Capital” daily newspaper and “Washingtonian” magazine.
Merrill has also served half-dozen political appointments during his career. From 1990 to 1992, Merrill served in Brussels as assistant secretary-general to NATO.
If approved by the Senate, Merrill will serve as head of the government owned bank through Jan. 20, 2005. He will replace former EXIM Bank President John E. Robson, who died in March.
“If confirmed, I look forward with energy and enthusiasm to the challenges and opportunities that are presented in pursuing the mission of the bank to support U.S. exports and U.S. jobs,” Merrill said.