ExportNZ supports retention of Export Credit Office

ExportNZ is very supportive of the Government’s decision to extend the mandate of the Export Credit Office (NZECO) to 2014.

The NZECO sells a range of Minister of Finance Guarantees to exporters and financiers covering:

• political / country risks of the buyer’s country
• overseas buyer repayment risks
• New Zealand exporter performance / repayment risks

Executive Director of ExportNZ, Catherine Beard, says the Export Credit Office provides a range of products that helps both large and smaller exporters do business overseas.

Most countries in the OECD and many developing countries have an equivalent of the Export Credit Office and they provide a valuable range of products to reduce the risks of international commerce for both exporters and their banks.