BExA is extremely encouraged by the new Export Strategy launched today by the Department for International Trade (DIT). The positive intent it sets for UK exports and the challenging growth targets are welcomed.
BExA congratulates UK Export Finance on another positive and encouraging set of results. Whilst the overall value of supported business has fallen slightly to £1.8bn the 23% increase in the number of supported companies shows that UKEF is continuing to expand their reach with UK exporters. Equally encouraging is that 77% of the supported companies are SMEs – these are the organisations that will provide export growth for the UK and UKEFs growing support for SMEs is essential to achieving this.
UKEF have continued to show innovation in their approach to financing with two firsts in the ECA world; the first ECA backed Sukuk and the first Renmimbi denominated financing. BExA welcomes and supports this innovative approach that will only provide further opportunities for UK exporters.
BExA remains committed to working with UKEF to develop their product range to meet the needs of exporters and to ensure the position they have worked hard to achieve, as one of the world’s top export credit agencies, is maintained.