§ 16. Mr. Anthony Grantasked the Secretary of State for Trade what steps he is taking to achieve international agreement on the terms and conditions of credit offered by exporting countries.
§ Mr. DellI refer the hon. Member to my statement in the House on 15th June. The authorities in a number of major trading nations have recently indicated their intention to observe certain guidelines on the terms on which they are prepared to provide official support for export credit of two years or more. These guidelines are being applied by the Export Credits Guarantee Department.
§ Mr. GrantIs the Minister aware that for some years British exporters have been at a disadvantage because other countries, notably France, have found it very convenient to muddle up trade with aid, much to their advantage? I welcome the new arrangements, but will the Minister try to encourage the department dealing with overseas aid to be a little less pious and perhaps more competitive in the terms it offers.
§ Mr. DellA great deal of our aid is tied. The objective of ECGD is to be competitive, and in general I think that it is and that it has greatly supported our exports.