Record levels of new business for export credit agencies in 2005

(ECA Watch, Paris, 19 December 2006) At the October 30 to November 3 annual general meeting of the Berne Union, an organization of private and governmental export credit and investment insurance agencies, members announced a record total of $1 trillion in new business in 2005.

Among the topics discussed, members addressed marketing to SMEs, new business models to adapt to the impact of globalization of exports and the opportunities to diversify the supply chain, and the significance of recent political events in the Middle East and Latin America.

At the meeting, Berne Union members adopted a set of 10 guiding principles covering general business objectives and practices. The Principles contain very brief mention to being sensitive to environmental issues, against corruption and promoting best practices, without mentioning the myriad of codes and hard standards that have been adopted or forced on international financial institutions in the past decade. These evolving best practices are the result of growing concern over the negative environmental and social impacts of ill designed energy, infrastructure and development projects often supported by ECAS, and a lack of consultation with and concern for the communities in which they are built.