18-19 November 2008: 104th Meeting of the Participants to the Arrangement on Officially Supported Export Credits

1.       The Participants to the Arrangement on Officially Supported Export Credits met at the OECD Conference Centre on 18-19 November 2008; the meeting was chaired by Ms. Nicole BOLLEN
(the Netherlands).

2.       The Participants welcomed non-OECD countries who provide official export credits and who were participating in the meeting as ad hoc observers: Brazil, China, India, Israel, the Russian Federation and South Africa. Representatives from other OECD Directorates attended the meeting to update the committee on issues of mutual interest.

3.       The main issues for discussion were export credits in the context of:

• Global financial crisis: this was the subject of extensive discussion and subsequently OECD and some non-OECD countries agreed a statement pledging continued export credit support for international trade deals in line with the call by G20 leaders for emerging and developing economies to retain access to financing for imports in the present financial crisis: this Statement is available on the OECD website.
• Arrangement on Officially Supported Export Credits : discussions focused on the implementation of the rules, including in relation to streamlining and rationalising the text, the pricing of official support and trade-related aid. The tied aid rules of the Arrangement are considered to be a success in meeting the aim of directing such aid to financially non-viable projects in poorer developing countries. The 2005 Untied ODA Credits Transparency Agreement  was extended for a further two years, i.e. until the end of 2010; since 2005, under this Agreement over 100 projects have been ex ante notified by members and placed on the public OECD bulletin board.
• Sector developments: the rules of the Sector Understandings annexed to the Arrangement on Ships, Nuclear Power Plants, Civil Aircraft and Renewable Energies and Water Projects are under review.

4.       The next plenary meeting of the Participants will take place in the week of 20 April 2009.

XCRED Secretariat
November 2008