Exports: Iraq

Business, Innovation and Skills written question – answered on 11th December 2012.

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Photo of Jim Fitzpatrick Jim Fitzpatrick Shadow Minister (Transport)

To ask the Secretary of State for Business, Innovation and Skills which exports from the construction and equipment sector account for Iraq's sovereign debt to UK Export Finance.

Photo of Michael Fallon Michael Fallon The Minister of State, Department for Business, Innovation and Skills

UK Export Finance, formally the Export Credits Guarantee Department (ECGD), has published information, available in the House Library, about sovereign debts payable to ECGD, including details of sovereign debts related to Iraq that arose as a result of its default on the payment of exports supplied in the 1970s and 1980s. The information shows that 69% of the value of debt related to exports from the construction and equipment sectors. It is not possible to provide details of individual export transactions, where such information exists, as this would incur disproportionate cost.

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