EFIC and CPA Australia to work together to help SME exporters

Export Finance and Insurance Corporation (EFIC), Australia’s export credit agency, and CPA Australia today signed a Memorandum of Understanding (MOU) on cooperation to assist Australian small and medium enterprises (SMEs).

The MOU provides a framework for EFIC and CPA Australia to expand their support network to Australian SMEs by leveraging each other’s significant expertise and resources.

Activities under the MOU could include joint events targeted at SMEs, sharing of SME-related information and resources, and joint promotions such as seminars and briefings.

“Close to 50,000 of our members are advising and/or working in small and medium-sized businesses,” said Alex Malley, president of CPA Australia. “Our relationship with EFIC will enable our members to further assist Australian businesses planning to export globally”.

“We envisage that the activities we undertake under this MOU will build awareness of EFIC among CPA Australia members and our role in promoting export and overseas investment,” said Stuart Neilson, EFIC’s chief financial officer.

In 2006 EFIC launched EFIC Headway, a product designed to help eligible SME exporters access additional working capital finance from their participating bank to boost their export growth.

EFIC is exploring new products aimed at extending its services to a greater number of SME exporters.