OECD Member 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. For the fifth time, the meeting was preceded by a consultation session with the Aviation Working Group (AWG).
At the 25th Meeting, the Group examined in-depth technical options for disciplines for aircraft financing, such as risk assessment approaches, pricing methodologies; these elements were also discussed with aviation industry and financing representatives which compose the AWG.
The Parties to the review agreed to meet again on 19 - 21 July 2006 to progress further the discussions on the elements of a revised Sector Understanding.
The Parties to the review are Australia, Brazil, Canada, the European Community, Japan, Korea, New Zealand, Norway, Switzerland and the United States.