The UK's export credit agency (ECA) ECGD has signed a co-operation agreement with Sinosure, the Chinese ECA.
A memorandum of understanding was signed between ECGD's chief executive Patrick Crawford and Sinosure’s executive vice president Zhidong Liang at a ceremony held at ECGD's London office.
The MOU aims to increase the two ECAs "ability to share knowledge and experience on areas of export credit policy and practice. It will also encourage co-operation on specific projects where export credit facilities are provided to support exporters from the United Kingdom and China.
ECGD’s Minister Malcolm Wicks comments: "I welcome the signing of this agreement. China is a global player in the supply of capital goods and services, and Sinosure is playing an increasingly important role in supporting Chinese exporters. Through greater collaboration we can learn from each other and seek to employ good practice and sound principles in the projects that we support."
Sinosure’s President Ruoxin Tang adds: "The arrangement with ECGD may offer great opportunities for Chinese exporters. Many of them already have an international focus.
"Sourcing from UK and still benefiting from our cover, has now been made easier. This comes on top of our existing extensive cover possibilities for joint Chinese and British exports to third countries."
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