Arms Trade: Qatar

Department for International Trade written question – answered on 30th October 2018.

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Photo of Barry Gardiner Barry Gardiner Shadow Minister (Department for Business, Energy and Industrial Strategy) (Energy and Climate Change), Shadow Secretary of State for International Trade

To ask the Secretary of State for International Trade, with reference to the letter sent to him on 20 June 2018 from Louis Taylor, the Chief Executive of UK Export Finance, what assessment he has made of the (a) level, (b) time horizon and (c) political nature of the risks involved in that transaction.

Photo of Barry Gardiner Barry Gardiner Shadow Minister (Department for Business, Energy and Industrial Strategy) (Energy and Climate Change), Shadow Secretary of State for International Trade

To ask the Secretary of State for International Trade, with reference to the letter of 20 June 2018 from the Chief Executive of UK Export Finance, what the size, time horizon and political nature are of the risks involved in the provision of financing to support the Government of Qatar in the export of Typhoon aircraft and associated equipment and services.

Photo of Graham Stuart Graham Stuart Assistant Whip, Parliamentary Under-Secretary (Department for International Trade)

For UK Export Finance (UKEF) to provide financing support for the export of Typhoon and Hawk aircraft and associated goods and services to the Government of Qatar, the Department assessed the impact that the relative quantum of the transaction (around £4.5 billion concentrated in a single market) would have against UKEF’s portfolio and the transaction’s risk horizon of 12.5 years. The Department considered UKEF’s support to be in the national interest in deepening the UK and Qatar’s defence and security relationship. Additionally, the Secretary of State considered the industrial and economic benefits to the UK of the contract, for which UKEF’s support was critical to ensuring its success.

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