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European Commission

Press release

Brussels, 29 June 2012

State aid: Commission consults on draft Communication on short-term export credit insurance

The European Commission is inviting comments on its first draft of a revised communication on the application of EU state aid rules to short-term export credit insurance. After a first round of consultations and based on its experience in applying the communication, the Commission proposes to clarify and simplify the current rules, which will expire on 31 December 2012. Comments on the draft communication should be submitted by 21 September. In light of the comments received, the Commission will adopt a reviewed communication in December 2012.

The current rules on short term export credit insurance define the criteria under which Member States can support export-credit insurance in line with EU state aid rules. Based on its experience in the application of the current communication and in particular during the financial crisis between 2008 and 2011 and in light of stakeholders replies to a first round of consultations (see consultation page), the Commission proposes the following main changes:

  • identification of possible market gaps that could justify State intervention;

  • introduction of conditions under which such intervention can take place in line with EU state aid rules; and

  • possibility to modify the list of marketable risks countries.

Comments should be sent by 21 September 2012 to: Stateaidgreffe@ec.europa.eu

The draft Communication and additional information are available at

http://ec.europa.eu/competition/consultations/2012_short_term_export_credit/index_en.html

Background

The Commission laid down the principles for State intervention in the sector of short term export insurance for the first time in 1997. The rules were subsequently amended and their validity extended in 2001, 2004, 2005, 2010. They will expire on 31 December 2012.

Contacts :

Antoine Colombani (+32 2 297 45 13)

Maria Madrid Pina (+32 2 295 45 30)


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