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PR(98)04: EFTA Surveillance Authority adopts guidelines concerning application of EEA state aid provisions to short-term export-credit insurance

2.10.2002

The EFTA Surveillance Authority has adopted guidelines relating to the application of the State aid rules of the EEA Agreement to short-term export-credit insurance.  The guidelines correspond to a communication on the same subject recently adopted by the EC Commission.

The objective of the new guidelines is to remove distortions of competition due to State aid in the marketable sector of the export-credit insurance business, i.e. the sector where there is competition between public or publicly supported export-credit insurers and private export-credit insurers.  For this purpose the guidelines define marketable risks as commercial risks on non-public debtors established in EEA countries and most other OECD countries, with a maximum risk period of less than two years.

The rules identify factors distorting competition between private and public or publicly supported export-credit insurers and set out the actions required to eliminate such distortions.

The guidelines were adopted in the form of so-called appropriate measures under the relevant State aid procedures.  This implies that a recommendation is addressed to the EFTA States to amend, where necessary, their existing systems for export-credit insurance for marketable risks in such a way that the granting of State aid of the kind identified in the guidelines (e.g. state guarantees for borrowing or losses, exemption from the requirement to constitute adequate reserves, exemption from taxes normally payable) is ended before 1 January 1999.

For further information please contact Mr Amund Utne (Competition and State Aid Directorate) on tel. 286 18 50.




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