Under the radar : regulating EU official export credit support

Abstract

The international market for official export credit support for domestic exporting companies is aggressive and unruly. The rise of new ECA players and market innovations challenge the existing framework for promoting a level playing field for official export credit support. For there are now more than 113 national Export Credit Agencies (ECAs), delivering approximately US$215 billion in total trade-related medium to long term (MLT) official export support in loans, guarantees and insurance to domestic firms’ exports of goods, services and investments.2 In the context of intense competition for export markets and tariff wars, governments have a collective interest in revamping the rules to prevent an export credit subsidy war and race to the bottom in terms and conditions.