Libya (Hansard, 18 July 1988)

§ Mr. Cummings
To ask the Chancellor of the Duchy of Lancaster what are the current figures for trade between the United Kingdom and Libya.

§ Mr. Alan Clark
For the first five months of 1988 imports (cif) were £58.3 million and exports (fob) £90.4 million. These figures should be treated with more than the usual caution because of major changes to customs procedures introduced in January 1988, details of which were given in a reply to my hon. Friend the Member for Hertfordshire, South-West (Mr. Page) on 7 December 1987, at columns 34–35.

§ Mr. Skinner
To ask the Chancellor of the Duchy of Lancaster what consideration is being given to the extension of Export Credits Guarantee Department cover in respect of trade with Libya; and if he will make a statement.

§ Mr. Alan Clark
ECGD cover for new business with Libya has not been available since 1986. The decision to withdraw cover was made on commercial grounds as a result of the poor payment experience on business covered by ECGD in Libya. At present there are no plans to resume cover.
ECGD keeps cover arrangements for all countries under constant review taking account of current conditions and future prospects for the market concerned.