§ Mr. Sandelsonasked the Secretary of State for Trade what help the Export Credits Guarantee Department can give to exporters tendering for foreign currency contracts overseas.
§ Mr. DellIn order to assist United Kingdom companies negotiating foreign currency financed contracts for projects overseas with ECGD support, I have authorised the Export Credits Guarantee Department to introduce a scheme to provide some protection against movements in exchange rates during the period between tender and award of contract. ECGD will be providing details of this new facility to the trade associations and exporters most concerned. It will be available with effect from 1st August and will help bring about the necessary switch to foreign currency financing of exports.