This document is an excerpt from the EUR-Lex website
Document 32011R1233
Applying OECD guidelines in the field of officially supported export credits
Applying OECD guidelines in the field of officially supported export credits
SUMMARY OF:
WHAT IS THE AIM OF THIS REGULATION?
It ensures that the EU applies the Organisation for Economic Co-operation and Development’s (OECD) arrangement laying down rules under which the national export credit agencies can offer financial support to their exporters.
The terms are set out in the non-binding Arrangement on Officially Supported Export Credits, known as ‘the Arrangement’, the latest edition of which was published in January 2019. They are intended to guarantee a level playing field for officially supported export credits in the international markets.
The regulation replaces Decisions 2001/76/EC (officially supported export credits) and 2001/77/EC (framework agreement on project finance in the field of officially supported export credits).
KEY POINTS
The OECD Arrangement:
The European Commission:
In the interests of transparency, EU countries must send the Commission an annual activity report detailing:
FROM WHEN DOES THE REGULATION APPLY?
It has applied since 9 December 2011.
BACKGROUND
The OECD Arrangement came into effect on 1 April 1978 and is open-ended. It is a voluntary, rather than legally binding, agreement among the participants. While not an official OECD act, it has the organisation’s administrative support.
In addition to the EU, the following countries participate in the Arrangement: Australia, Canada, Japan, Korea, New Zealand, Norway, Switzerland and the United States.
Current participants may invite other OECD members and non-members to join the Arrangement.
KEY TERMS
MAIN DOCUMENT
Regulation (EU) No 1233/2011 of the European Parliament and of the Council of 16 November 2011 on the application of certain guidelines in the field of officially supported export credits and repealing Council Decisions 2001/76/EC and 2001/77/EC (OJ L 326, 8.12.2011, pp. 45-112)
Successive amendments to Regulation (EU) No 1233/2011 have been incorporated into the original document. This consolidated version is of documentary value only.
last update 21.02.2019