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Vietnam

Volume 176: debated on Wednesday 18 July 1990

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To ask the Secretary of State for Trade and Industry how many British companies trade with Vietnam; and what information he has on the position in other European Community member states.

[holding answer 17 July 1990]:The DTI does not maintain a comprehensive list of individual British or EC companies which trade with Vietnam. The table compares the United Kingdom's share of exports from OECD countries to Vietnam with those of the rest of the European Community.available for short-term business subject to payment being made on terms of cash against documents out of an irrevocable letter of credit confirmed before shipment by a bank in the United Kingdom. Some other member states provide similar support.

To ask the Secretary of State for Trade and Industry what support Her Majesty's Government gives to British companies wishing to trade with Vietnam.

[holding answer 17 July 1990]: Financial support from Her Majesty's Government for British companies wishing to trade with Vietnam is limited to short-term (180 days) export credit cover available from the Export Credits Guarantee Department on the basis of payment made on terms of cash against documents out of an irrevocable letter of credit confirmed before shipment by a bank in the United Kingdom. The resumption of medium and long-term cover, withdrawn in 1982 following repayment defaults, will be reviewed when Vietnam has negotiated a debt rescheduling arrangement with the IMF. This policy is broadly in line with other European export credit agencies.Through the BOTB, the DTI continues to offer a wide range of services to assist United Kingdom companies trading with Vietnam including general market information, briefing seminars and financial support for companies visiting Vietnam as part of DTI-sponsored trade missions or exhibitions.