THE BUSINESS OF INTERNATIONAL TRADE
The British Exporters Association (BExA), recently submitted written evidence to the International Trade Committee, which is undertaking an inquiry into the operations of the UK's export credit agency, UK Export Finance (UKEF).
The report, which was submitted in September, looks at a number of different topics relating to UKEF:
• how UKEF products compare to private sector options;
•How suitable UKEF's application procedures are for exporters;
•How UKEF's services affect businesses engaged in different sectors or working on different types of projects;
•How appropriate UKEF's targets are;
•How UKEF can best assist UK businesses during the Covid-19 pandemic;
•How user friendly UKEF's services are;
•and how UKEF works with other bodies including the Department for International Trade.
Summarising their evidence, BExA say they are "proud to work with UK Export Finance (UKEF) to improve its products and services for the benefit of UK exporters." The association explains that "Over the past decade BExA has seen UKEF develop into one of the worlds’leading Export Credit Agencies (ECAs) through adopting an open and collaborative culture. UKEF’s willingness to listen to BExA as representatives of the users of its products in order to improve and expand on them has paid dividends for its global standing."
The summary goes on to note that there remains room for improvement, with BExA saying that "There is still work to be done, as we highlight in the following response, but on the whole the UK is fortunate to have UKEF as its Export Credit Agency and BExA looks forward to working with UKEF asit fine-tunes and develops its offerings for the benefit of all UK exporters."
To read the full written evidence on UKEP from BExA, go to committees.parliament.uk/writtenevidence/12396/pdf/. For more information on BExA itself, go to www.bexa.co.uk
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