China and UK sign agreement on export credits

ECGD, the UK official export credit agency, today (27 February 2008) signed an agreement to co-operate more widely with its Chinese counterpart.

The Memorandum of Understanding with the China Export & Credit Insurance Corporation (Sinosure) was signed by ECGD's Chief Executive, Patrick Crawford and Sinosure's Executive Vice President, Zhidong Liang, at a ceremony attended by Mrs Yanyan Bei, Chief Representative of Sinosure's London Office.

The MOU will provide a platform for sharing knowledge and experience on areas of export credit policy and practice. It will also enable co-operation on specific projects where export credit facilities are provided to support exporters from the United Kingdom and China.

ECGD's Minister Malcolm Wicks said: "I welcome the signing of this agreement. China is a global player in the supply of capital goods and services, and Sinosure is playing an increasingly important role in supporting Chinese exporters. Through greater collaboration we can learn from each other and seek to employ good practice and sound principles in the projects that we support."

Sinosure's President Ruoxin Tang commented: "The arrangement with ECGD may offer great opportunities for Chinese exporters. Many of them already have an international focus. Sourcing from UK and still benefiting from our cover, has now been made easier. This comes on top of our existing extensive cover possibilities for joint Chinese and British exports to third countries."

by: Editor
27th Feb 2008