Chamber's director of policy called to give evidence

"Export Credit Insurance is a crucial element of doing business in overseas markets and members have found getting cover immensely difficult if not impossible over the last few years, reflecting global market uncertainty."

The Chamber’s Director of Policy, Chris Fletcher, has given evidence at a parliamentary inquiry into UK Export Finance (UKEF), formerly the Export Credit Guarantee Department.

With the Government firmly stating its intention to get more businesses exporting this inquiry comes at an opportune time to look into the activity and products of UKEF and how suitable they are for helping business.

Commenting on the inquiry, Chris said: “The information I gave reflected directly what members have told me over the last 12 to 18 months on this issue. Export Credit Insurance is a crucial element of doing business in overseas markets and members have found getting cover immensely difficult if not impossible over the last few years, reflecting global market uncertainty. This is where UKEF can and should step in, but there is little awareness they exist and even if businesses are aware, the range of products is quite complex and do not offer cover for Europe, which is still the largest export market for the UK.

"When UKEF help businesses they are very effective, but there is still a gap which government needs to be aware of for smaller businesses looking to export for the first time especially if they are looking to trade in Europe. We picked up on this issue some time ago and it is an important part of our Action For Business work.”

The report will be out in the Summer and the Chamber will be monitoring this issue.

For more information, contact: chris.fletcher@gmchamber.co.uk