House of Lords written question – answered at on 11 February 2013.
To ask Her Majesty's Government what assessment they have made of the recommendation in the latest British Chambers of Commerce Trade Confidence Index that more action is needed in areas such as trade finance promotion and insurance.
In 2011, UK Export Finance widened its business domain and launched a number of new products to support exports sold on short terms of payment. These products are aimed at supporting small and medium-sized enterprises that are unable to get support from the private market. To date, the new products have supported export contracts of over £500 million.
UK Export Finance has recruited 12 regional export finance advisers based throughout the UK whose role is to advise and assist exporters access trade finance and credit insurance, including its new short term products where support is not available from commercial sources.
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