Sydney hosts meeting of international trade organisation

A four-day meeting of the Berne Union, a leading international trade organisation in the field of export credit and investment insurance, begins in Sydney today.

Export Finance and Insurance Corporation (EFIC), Australia’s export credit agency, is hosting the meeting.

The committee meetings of the Berne Union bring together 43 member organisations comprising public and private companies from around the world, to discuss facilitation of cross-border trade and to promote sound principles in export credits and foreign investment. Members of the Berne Union support more than US$1 trillion dollars per year of trade and investment risk worldwide.

“We’re excited to host this significant meeting of world experts in the field of export credit and investment insurance,” said Angus Armour, managing director of EFIC. “Exports and cross-border investment play an important role in the growth of the world economy, and this meeting will contribute to a further streamlining of trade finance arrangements at a time when markets are feeling the global credit crunch.”

Mr Armour served as a vice president of the Berne Union from 2006 to 2007.

Established in 1934 to facilitate cross-border trade, the Berne Union is a non-profit body made up of the world’s leading public export credit and investment insurance agencies as well as the majority of global private insurance companies specialising in this field. 

The committee meetings will take place in Sydney from 7–10 April 2008.