BExA responds to the International Trade Committee inquiry to examine the work of UK Export Finance
Established in 2016, the International Trade Select Committee scrutinises the spending, administration and policy of the Department for International Trade, and other associated public bodies.
The Committee's inquiry, to examine UKEF’s operations and its engagement with stakeholders, invited submissions on the following questions:
- How comprehensive is UKEF’s product offering - and how attractive are particular products when compared with private sector options?
- How suitable is UKEF’s process for assessing applications for support?
- Do particular sectors, types of projects, or projects involving certain export destinations receive more UKEF support than others?
- Are UKEF’s performance targets suitable? Is UKEF’s current financial allocation from HM Treasury and risk appetite appropriate to allow it to meet these targets?
- How can UKEF continue to support economic recovery from the COVID-19 pandemic?
- How user-friendly are UKEF products for its range of customers, including small and medium enterprises? How well does UKEF communicate its offering to new and existing customers?
- How does UKEF engage with DIT, the British Business Bank and private sector partners to ensure the requirements of businesses exporting overseas are met?
- To what extent does UKEF draw on external expertise and knowledge in the design and review of its products?
- What could UKEF learn from other successful export credit agencies around the world?
As a trade association representing the interests of the UK exporting community, BExA members - ranging from large corporate to SME exporters and export service providers - were canvassed to gain their views and input into the Association's response to the inquiry. The full response document can be read here.
Posted 16 October 2020