ANNOUNCEMENT 11 Jul 2016In July 2016, the British government announced a change in the required local inputs to serve domestic customers and a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
On 11 July 2016, the UK Export Finance agency presented its 2015/16 Annual Report. The report included a list of all beneficiaries of trade finance for the given fiscal year.
One of these beneficiares was Vietnam's Vietnam Airlines Corp., which was offered buyer credit worth 32.4 million GBP for a contract with Airbus SAS.
Given that UKEF does not provide the exact date that the trade finance deal was signed, the most conservative inception date, i.e. the 30 June 2016, was set as the inception date.
The list of affected trading partners is based on 2014 trade figures.
France and Germany were not included as affected trading partners as part of Airbus' production facilities are located in those countries.