ECGD, the UK
export credit agency, today launched a public consultation on
proposals to revise its Business Principles.
Developments since the Business Principles were introduced in
2000 have made them increasingly outdated. These include the
adoption by the OECD of agreements which cover anti-bribery
measures, sustainable lending and the environmental and social
impacts of exports supported by member export credit agencies, as
well as the introduction of information legislation (Freedom of
Information Act and Environmental Information Regulations) and the
Government code of conduct on public consultations.
The proposed new Business Principles are focussed on three key
areas: serving exporters, ethical considerations and disclosure
and consultation. The Government also proposes that in future ECGD
will only operate ethical policies which are consistent with the
relevant OECD agreements, which have been agreed multilaterally in
the OECD.
New guidelines have been produced that will assist exporters to
explain how ECGD decides to support exports.
Lord Davies of Abersoch, UK Minister for Trade, Investment and
Small Business said:
"These changes are overdue and recognise that ECGD
should operate policies in future which have been agreed
internationally, to allow British exporters to compete on a level
playing field. ECGD will continue to lead efforts to improve
international agreements but it should no longer unilaterally
apply policies that British exporters' competitors in
other countries do not face."
"It was always recognised that the Business Principles
would need updating to reflect changing circumstances. A lot has
changed in the last nine years, and it is now right to reflect
those changes in a new set of Business Principles."
The consultation is available at http://www.ecgd.gov.uk/index/public-information/public-consultation.htm,
and responses must be sent to consultation@ecgd.gsi.gov.uk
by 3 March 2010.
Notes to editors
ECGD, the Export Credits Guarantee Department, is the UK export
credit agency. ECGD works with exporters, project sponsors, banks
and buyers to help UK exporters to trade with confidence, by
providing insurance against non-payment risks and guarantees for
bank loans to buyers of UK goods. It also provides insurance
against political risks to UK investors in overseas markets.
Details of ECGD's products and service are available at
www.ecgd.gov.uk.
For more details contact Steve Roberts-Mee on 020 7512 7319 or
07990 887852
Contacts:
Steve Roberts-Mee
Phone: Tel: 020 7512 7319
Mobile: 07990 887852
Steve.Roberts-Mee@ecgd.gsi.gov.uk