Australia’s export credit agency EFIC is under inquiry by the government’s productivity commission to review the agency’s remit.

Bill Shorten, Australia’s assistant treasurer and minister for financial services, has produced a list of areas which will come under review by the inquiry.

These include the rationale for government involvement in insurance provision, market gaps which EFIC is capable of filling, pricing, the suitability of products available and the agency’s funding arrangements, among other things.

The last time the ECA was analysed in such a way was in 2006 when the department of foreign affairs and trade led the inquiry.

At the time, the department recommended that a more detailed and independent inquiry be carried out.
The productivity commission will consult private sector organisations and industry professionals as part of its research.