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Airbus SAS: Export Credit Guarantees

Department for International Trade written question – answered on 23rd November 2016.

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Photo of Roger Godsiff Roger Godsiff Labour, Birmingham, Hall Green

To ask the Secretary of State for International Trade, with reference to Airbus Group's press release, entitled Airbus Group announcement on UK Export Credit Financing, published on 1 April 2016, if UK Export Finance will take steps to review its anti-corruption procedures to take account of the findings by Airbus that there were inaccuracies relating to applications for export credit financing for Airbus customers.

Photo of Greg Hands Greg Hands The Minister of State, Department for International Trade

UK Export Finance (UKEF) is currently working with Airbus and the French and German export credit agencies to understand and seek assurances around Airbus’s practices and procedures with regard to overseas agents.

UKEF’s policy with regard to anti-corruption due diligence is guided by the OECD Recommendation on Bribery and Officially Supported Export Credits (2006 OECD Bribery Recommendation), which it applies to its fullest extent.

UKEF’s role is to take reasonable precautions, including by making reasonable enquiries, to avoid financial loss by becoming involved in transactions that may be tainted by corruption. However, responsibility for detection, prevention and suppression of criminal offences resides with law enforcement bodies with investigatory powers.

All UK companies must abide by the 2010 Bribery Act and any relevant local law.

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