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UK’s Export Credit Agency pinpoints GCC as a priority market
March 29, 2018
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DUBAI: The UK’s Department for International Trade announced that the GCC has become one of the first regions globally to have a dedicated UK Export Finance (UKEF) team based in-market.

The move comes as the strength of the UK-GCC trading relationship is reaffirmed, after UKEF - the UK Government’s Export Credit Agency - financed approximately GBP2 billion of GCC projects that procured UK exports from April 2016 to March 2017. This represented the largest allocation of UKEF support to one region in the year, underscoring the region’s appetite for the UK’s world-class goods and services.

Commenting on the formation of the UKEF team, Alastair Long, Regional Director of Trade and Investment for the Middle East, said:”The establishment of UKEF’s local presence demonstrates the importance the UK attaches to the further development of commercial ties between the United Kingdom and the nations of the GCC. There is great synergy between the UK’s world-class goods and services and the future plans of Gulf nations. It remains our ambition to continue to play a central role in the region’s development.”

UKEF’s competitive content requirements help governments and private sector companies around the world to finance projects and procure from UK suppliers.

WAM

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