IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 26 Mar 2015 | Removal date: open ended
Still in force

Trade finance

On 26 March 2015 the Japan Bank for International Cooperation (JBIC) signed a EUR 11.5 million (USD 13.15 million) buyer's credit loan agreement with Teyma Gestión de Contratos de Construcción e Ingeniería, S.A., a subsidiary of Spanish Abengoa S.A.
The loan funds the Company's purchase of equipment from Japanese Mitsui & Co. Plant Systems, Ltd for its construction of a seawater desalination plant in Agadir Morocco. This also includes the purchase of osmosis membrane elements and high-pressure pumps made by Japanese Toray. Industries, Inc. and Torishima Pump Mfg. Co., Ltd., respectively.
In this context the Bank stated: 'This loan provides financial support for the export of seawater desalination plant-related equipment to the Abengoa by MPS, thereby contributing to maintaining and strengthening the international competitiveness of Japanese water-related industries.'
 
Buyer's credit agreements
JBIC provides direct loans named buyer's credit to overseas importers. Loans are obtained if it finances the purchase of Japanese machinery, equipment or technology in specific eligible sectors. The Bank hereto stated that these loans are intended to 'positively contribute to Japanese companies'. Further information can be found on the Bank's website under export loans.
 
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
 
According to UN Comtrade, no trading partner exceeded the GTA threshold of USD 1 million on the affected tariff lines in the year prior to the intervention. Thus, no affected trading partners have been identified.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

432 Pumps, compressors, hydraulic & pneumatic power engines; parts
8413 Pumps for liquids, whether or not fitted with a measuring device; liquid elevators.
841311 Pumps for dispensing fuel or lubricants, of the type used in fillingstations or in garages
841319 Other
841320 Hand pumps, other than those of subheading 8413.11 or 8413.19
841330 Fuel, lubricating or cooling medium pumps for internal combustion piston engines
841340 Concrete pumps
841350 Other reciprocating positive displacement pumps
841360 Other rotary positive displacement pumps
841370 Other centrifugal pumps
841381 Pumps
841382 Liquid elevators
841391 Of pumps

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