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Export Credits

Volume 929: debated on Monday 28 March 1977

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asked the Secretary of State for Trade whether the ECGD facilities for exporters engaged in trade with Egypt are less favourable than those available for trade with neighbouring countries; and if he will make a statement.

ECGD cover is available to support British exports to Egypt at the present time. As for other markets, the extent of such cover is subject to reguar review against ECGD's normal under- writing criteria. For commercial reasons, especially the possible reaction of overseas countries against British exports if they considered their credit provisions were relatively unfavourable, it is not normal practice to publicise the extent of EGCD facilities in detail for individual markets.

asked the Secretary of State for Trade whether there has been any recent change in the ECGD facilities available for exporters of goods to Zambia; and if he will make a statement.

For commercial reasons, especially the possible reaction of overseas countries against British exports if they considered their credit provisions were relatively unfavourable, it is not normal practice to make statements about ECGD facilities in detail for particular markets. Cover is available for exports to Zambia, but, as for other markets, it is subject to regular review against ECGD's normal underwriting criteria.

asked the Secretary of State for Trade what steps are being taken to monitor the adherence of member States of the EEC to the European Commission's experimental guidelines for Government-supported export credits to third countries; whether Her Majesty's Government intend to adhere to these guidelines; whether member States will notify any intended breaches of these guidelines to the Commission; and whether he will make a statement on the guidelines generally.

Details of the guidelines were given in my announcement on 15th June 1976โ€”[Vol. 913, c. 124โ€“125]โ€”of the United Kingdom's decision to adhere to them. The Community's proposed adherence to them was the subject of a debate in the House on 3rd March. All countries observing the guidelines on export credits are required to notify or consult all other subscribing countries before supporting more favourable terms. With the recent endorsement of the guidelines by the EEC as a whole the Commission now participates in the notification and consultation procedures and is, therefore, in a position to monitor Member States' and other adherents' performance.