OECD countries and Brazil met in Paris to progress the review of the Sector Understanding on Export Credits for Civil Aircraft which sets out financial terms and conditions for officially supported export credits for such aircraft. The Sector Understanding is annexed to the Arrangement on Officially Supported Export Credits. The meeting was preceded by a consultation meeting with the Aviation Working Group (AWG) and by a technical experts meeting.
Discussions were focused on risk-classification and pricing issues, including risk mitigation factors and the Cape Town Treaty, and on appropriate repayment terms for categories of aircraft. The Parties to the review agreed to meet again in the week of 14 November 2005 to progress the review of the Sector Understanding.
The Parties to the review are Australia, Brazil, Canada, the European Community, Japan, Korea, New Zealand, Norway, Switzerland and the United States.