A REVIEW of the export credit insurance market has been completed by Forfas and Enterprise Ireland, and Tánaiste and Enterprise Minister Mary Coughlan will bring the findings to Government shortly for discussion.
“It is recognised that there has been some withdrawal and reduction of export credit insurance cover for business, including companies in the food sector, by the commercial insurance companies, in recent months,” she told the Dáil, in response to a question from Deputy Michael Creed.
“While some member states operate medium to long-term schemes which generally cover large–scale capital or infrastructural projects, none have introduced state-backed, short-term, export credit insurance, similar to what is being requested for Irish exporters,” the minister said. The recently developed French scheme covers the domestic French market only. A possible UK scheme is still under consideration. Only Denmark has advanced proposals that will cover exports and these proposals are awaiting EU approval.
© Irish Examiner Ltd. All rights reserved