Export finance could benefit county firms

Anne-Marie Trevelyan, MP for Berwick.
Anne-Marie Trevelyan, MP for Berwick.

Berwick MP Anne-Marie Trevelyan has attended a meeting at the Department of International Trade to discuss how UK Export Finance (UKEF) could benefit export promotion for businesses in north Northumberland.

UKEF is the world’s oldest export credit agency and is a core part of the Department’s offer on export promotion. UKEF works with 70 private credit insurers and lenders to help UK companies access export finance.

Export finance is the particular class of loans, insurance policies or bank guarantees that enable international trade to take place as easily/securely as possible.

Anne-Marie said: “This was an excellent opportunity for me to showcase the fantastic offering of businesses in the North East and to discuss with the Department what we can do to help those businesses export and take advantage of UKEF.

“The International Trade Department is a dedicated department that focuses on the Great British Brand and is working across the globe to boost British trade and create opportunities for British business.

“In last year’s Autumn Statement, the Chancellor doubled UKEF’s risk appetite to £5billion and increased the number of pre-approved local currencies in which UKEF can offer support from 10 to 40.

“UKEF operates at no net cost to the taxpayer and is a very valuable service for the United Kingdom and businesses in our patch. This is the latest in a string of meetings I have attended at the Department and I look forward to further visits to support local businesses in their efforts to grow and boost their exports.

“If any local business needs any help or wishes to raise a particular matter on trade then please do contact me as I would be delighted to raise it with the Department.”