Byers to overhaul ECGD

Stephen Byers, the trade and industry secretary, has unveiled plans for the overhaul and transformation of the Export Credits Guarantee Department. The Review of ECGD’s Mission and Status strongly re-affirmed ECGD’s role in bringing economic benefits to the UK, and in maintaining jobs, by supporting UK exporters and investors in overseas markets. It proposed greater […]

Stephen Byers, the trade and industry secretary, has unveiled plans for the overhaul and transformation of the Export Credits Guarantee Department.

The Review of ECGD’s Mission and Status strongly re-affirmed ECGD’s role in bringing economic benefits to the UK, and in maintaining jobs, by supporting UK exporters and investors in overseas markets. It proposed greater freedom for the ECGD to provide support in the future. However, in its conclusions the report said: `The ECGD should introduce greater openness and transparency to its operations and aim to attract more medium-sized exporters and investors as direct customers. The ECGD should also support the government’s objectives of promoting sustainable development, human rights, good governance and trade throughout the world.’

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