Timmymagic wrote:Export Credit Guarantees. Essentially the UK government will provide financial guarantees to companies who export large amounts so that if there are delays in payment, or cancellations they are protected from harm to a degree. They're pretty well assessed for risk beforehand
The last 20 years have left military kit exports as the last "free for all" as in Gvmnts being able to subsidise exports from their countries as they wish:
"Since 1999, country risk categories have been harmonized by the Arrangement and minimum premium rates have been allocated to the various risk categories. This is intended to ensure that competition takes place via pricing and the quality of the goods exported, and not in terms of how much support a state provides for its exporters
.[http://www.oecd.org/tad/xcred/arrangement.htm] The Arrangement does not extend to exports of agricultural commodities or military equipment. A recent decision at the World Trade Organization (WTO) indicates that the use of officially supported export credits in agriculture is bound by WTO members' commitments with respect to subsidised agricultural exports"
In this case:
"Qatar’s purchase was supported by a 5 billion pound package of financing and insurance support provided by UK Export Finance, the UK government said in a statement. "
I have no urge to check whether this is so (or just how the newspaper interpreted the chain of events):
BAE signs £5bn Qatar fighter sale after Liam Fox tells UKEF to back dealhttps://www.telegraph.co.uk
21 hours ago