Home United Kingdom UK confirmed as a Participant to the OECD Arrangement

UK confirmed as a Participant to the OECD Arrangement

38
0
UK confirmed as a Participant to the OECD Arrangement

The UK is now a Participant to the Organisation for Financial Co-operation and Fashion (OECD) Arrangement.

Following formal approval by the existing Participants, the UK is now a Participant to the Organisation for Financial Co-operation and Fashion (OECD) Arrangement on Officially Supported Export Credits (the Arrangement) and the related Aircraft Sector Understanding (ASU).

Early Newspaper

Up till EU exit, the UK (along with other EU member states) was represented by the European Price beneath the ‘basic commercial coverage’.

The UK now has its impartial seat and UKEF officials will represent the UK. UKEF will also proceed to play its part in meetings of Arrangement subgroups such as the Nation Risk Specialists.

What is the Arrangement and who are its Participants?

The Arrangement (the ‘red book’) is the main state of principles that govern the provision of officially supported export credit.

The Arrangement Participants are:

  • Australia
  • Canada
  • EU
  • Japan
  • Korea
  • Unusual Zealand
  • Norway
  • Switzerland
  • Turkey
  • UK
  • US

The ASU Participants are:

  • Australia
  • Brazil
  • Canada
  • EU
  • Japan
  • Korea
  • Unusual Zealand
  • Norway
  • Switzerland
  • UK
  • US

Revealed 8 June 2021

Source:
UK confirmed as a Participant to the OECD Arrangement – GOV.UK