News

BExA's Manifesto for Exporting, February 2010 (added 23/02/2010)
Britain’s Q3 GDP statistics show that we continue in recession (added 23/10/2009)
BExA Guide to Financing Exports (added 20/10/2009)
Potential For Government Support For Exports In 2009 (added 15/07/2009)
BExA Young Exporter of the Year
Bond Issue Support
Export Credits Guarantee Department
Consultation on ECGD LC Guarantee Scheme (updated 05/07/2009)
Nigerian Debt Write-off
Information Exchange

BExA's Manifesto for Exporting, February 2010

(Added 23/02/2010)

On Monday 22nd February, BExA launched it's Manifesto for Exporting at a press conference. Links to the Manifesto and Press Release can be found below:

Manifesto
Press Release

Since it's launch, BExA has received the following press coverage:

Daily Mail
Trade Finance Magazine
GTR [Global Trade Review]

Britain’s Q3 GDP statistics show that we continue in recession

(Added 23/10/2009)

BExA is actively pressing the Government for support for exports to stimulate growth. We would like to see government involvement in risk protection and finance of both short term and medium term trade, plus support for the issue of on-demand bonds. BExA is in dialogue with the Trade Minister and Shadow (Conservative) International Trade & Development Minister and Shadow (Liberal Democrat) Chancellor of the Exchequer.

BExA Guide to Financing Exports

(Added 20/10/2009)

The "NEW BExA Guide to Financing Exports" has just been issued (October 2009) and is downloadable here or from the downloads section of this website.

Potential For Government Support For Exports In 2009

(Added 15/07/2009)

BExA welcomes the Government’s new found interest in exports. [As evidenced by the plethora of UKTI advertising hoardings on railway stations, the passing of the Industry and Exports (Financial Support) Act, and interest in introducing a new ECGD facility to cover banks when confirming letters of credit.]

At a time when exporters are suffering from lack of demand, difficulty in obtaining bank finance and a weak credit insurance market, BExA believes the following measures would have a beneficial impact on British export performance:

Support for short term export credit insurance.
An overhaul of ECGD’s excessive Business Principles. BExA favours a level playing-field approach so that ECGD is in line with other countries’ export credit agencies.
The provision – by BIS - of Bond Issue Support.
Support to banks for the funding of export finance loans

GTR BExA Young Exporter of the Year 2009

The 2009 Award was held in conjunction with the leading International Trade Finance magazine, Global Trade Review (GTR). The Winner, who was announced at the GTR Awards Lunch on 24th April 2009, is Marie Quilter, Principal Commercial Officer - China, Rolls-Royce.

Here are a few photos from the GTR Awards Lunch:

Bond Issue Support

Major exporters and SMEs turn away business because bond facilities are either unavailable from the commercial markets or will detract significantly from their company’s day-to-day banking lines.

BExA believes HMG should step in and share the risk with banks and surety companies so that more sound business can be undertaken by British exporters.

HMG has referred this matter to ECGD which has shown some interest in BExA’s proposals. But BExA feels strongly that any UK Bond Issue Support scheme should be administered by BIS and not by ECGD

Export Credits Guarantee Department

BExA also takes an active interest in the future of ECGD, the Export Credits Guarantee Department.

ECGD may only cover 3 to 4 per cent of UK exports but the trickle-down impact on UK’s manufacturing sector is substantial. A sub-contractor working for Rolls-Royce, ALSTOM or, perhaps, BAE SYSTEMS, may not consider himself to be an exporter - but the goods he makes could well be a vital component of a large export order.

ECGD provides vital insurance for business that is too large or stretches too long into the future to be of interest to the private insurance market.

BExA is delighted that during the year ECGD has increased to 80% the foreign content percentage that is permitted in a contract that it will cover.

The Association has asked ECGD to consider whether it will provide cover for unfair calling of tender bonds and also cover for offset performance bonds.

Consultation on ECGD LC Guarantee Scheme

(Updated 05/07/2009)

The deadline for responses to ECGD is 3rd July 2009. For more details, please click here.

To see BExA's submission to the consultation click here.

Nigerian Debt Write-off

BExA contends that creditors did not authorise ECGD to write-off (as opposed to re-schedule) the uninsured element of old ECGD Nigerian Short-Term debts. BExA is taking up this matter with ECGD.

Exporters with such debts that have been written off by ECGD should contact BExA.

Information Exchange

In the meantime we continue to provide regular information up-dates to members through focused emailing lists relating to ECGD.