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.
The British public have voted to leave the European Union. We now enter a period of uncertainty for UK exporters as the terms of our exit are negotiated and whilst our trading terms with non-EU countries are clarified. BExA remains committed to promoting the needs of UK exporters with UK Government to ensure the right help is provided to enable exporters to navigate through and succeed during this challenging period.
Details of the new BExA co-Chairmen have featured in an online GTR article which can be viewed here. Geoffrey de Mowbray, Co-Chairman BExA-SME & Micro Exporters, has also featured in an article which appeared in yesterday’s CityAM. To read the full article click here.
BExA is sorry to announce that Jon Coleman is retiring from BAE Systems at the end of March and will also be stepping down as the BExA Chairman at this time. BExA would like to thank Jon for his hard work and dedication as Chairman over the last four years. He has built on the associations ECA benchmarking work in driving real change at UKEF; providing UK exporters with a flexible, proactive world class ECA. Today, the BExA name is well respected and has real weight in political circles and this is in no small part down to Jon’s commitment to drive the association forward.
BExA has grown in stature and this has been recognised by the appointment of Marcus Dolman and Geoffrey de Mowbray as Joint Chairmen to succeed Jon. Marcus is the Rolls-Royce plc BExA representative and BExA Industry Committee Chairman, and Geoffrey is the BExA representative for Dints International, BExA Council member and former winner of the GTR BExA Young Exporter of the Year. The Joint Chairmen will work closely together but also have distinct areas of responsibility with Marcus covering the Large Exporters and Geoffrey covering the SME and Micro Exporters, they will jointly cover the Finance provider and support company members.
BExA welcomes Lord Maude’s announcements on a new whole-of-government approach to boosting exports, which is to be delivered via a transformed UKTI. This closely echoes the call for a joined up approach in BExA’s “6th Annual ECA Benchmarking of UK Export Finance – Whole Government Support for Exporters”.
Exporters have long required a coordinated one-stop shop to facilitate their ability to navigate the support and advice available from the many different government departments. This new announcement suggests coordination will soon become a reality and, if implemented successfully, be of significant benefit for the UK exporter community.
Along with UKTI, UK Export Finance will play a critical role in the success of this programme and is well placed to deliver increased export credit and finance support if it continues to follow up on the improvements that have been outlined in successive BExA benchmarking papers.
BExA would be pleased to see DfID included in this joined up approach to export alongside a reintroduced tied aid programme as highlighted in our submission to the recent DfID consultation.
The British Business Bank and its support for SME finance should be extended to include the provision of banking facilities direct to SMEs which is fundamental to the success of the drive to hit the UK’s ambitious export growth targets.
To read the article issued by the CBI please click here
An article by Kevin Godier in the October edition of International Trade Finance features BExA and it’s ECA Benchmarking Report. Click here to read ..
Click here to read the article
BExA is delighted that the Cape Town Convention on International Interests in mobile Equipment and its Aircraft Protocol will enter into force on 1 November 2015. The Treaty is designed to facilitate the financing of highly mobile assets, such as aircraft and aircraft engines. Its adoption will assist UK exports and jobs amongst manufacturers and component suppliers in the commercial airline industry. BExA has been pressing for its adoption for over ten years following a meeting with senior officials in the FCO and (then) DTI in March 2005. At the time, it fell foul of the Spanish ‘Gibraltar hold’ on several outstanding treaties. In August 2014, in response to a BIS consultation on the matter, BExA submitted a response reiterating our support for the Convention.”
The Business, Innovation and Skills Committee has launched an inquiry looking at Exports and the role of UK Trade and Investment (UKTI). Full details of the announcement can be found by clicking here
BExA will be collating members’ views into a response – please make your submission to email@example.com by latest 16th November.