ExportNZ welcomes increased financial support for exporters

Monday 7 November 2011, 12:25PM
By Business NZ

ExportNZ is welcoming the changes the Government is making to the services offered by the New Zealand Export Credit Office (NZECO).

Catherine Beard, Executive Director of ExportNZ, says “This move shows the Government recognises the vital role exporters have to play in boosting our economy and the challenges they face in the process of internationalising Kiwi companies.

“The NZECO performs a critical function for exporters, helping both large and smaller companies to do business overseas. This includes selling guarantees covering risks of the buyer’s country, overseas buyer repayment risks, and New Zealand exporter performance/repayment risks.

“This latest expansion to the support the NZECO offers comes at an opportune time. China is an increasing focus for NZ exporters and the ability to do deals in the RMB will be beneficial.

“In addition, NZ exporters are increasingly using global supply chains and the move to be more flexible on the amount of NZ ownership allows companies to access the service for subsidiaries or joint ventures. It will also be helpful for companies simply wishing to increase diversification in their business.”