§ Mr. SpellerTo ask the Secretary of State for Trade and Industry if he will make it his policy to reinstate Export Credits Guarantee Department cover for United Kingdom exports to Nigeria, Ghana, Sierra Leone and the Gambia; and if he will list the present value of exports and imports between the United Kingdom and those countries.
§ Mr. Redwood[holding answer 27 March 1990]: ECGD cover for exports on cash or short terms of payment—up to 180 days credit—is already available for these countries.
Cover for exports on longer terms of payment is in principle available for Ghana subject to ECGD's normal underwriting judgment being satisfied. The possibility of reinstating ECGD cover for longer payment term business with Gambia, Nigeria and Sierra Leone will be considered when this is justified by improvements in the economic situation in these countries and progress has been made in clearing past payment arrears.
The value of exports and imports between the United Kingdom and those countries, for the year ending December 1989, is as follows:
United Kingdom imports £ million United Kingdom exports £ million Nigeria 129.406 388.777 Ghana 92.208 121.076 Sierra Leone 15.899 20.402 Gambia 2.340 16.563