28 October 2004

Export Finance and Insurance Corporation (EFIC) and the Victorian Employers' Chamber of Commerce and Industry (VECCI) have established an alliance that will enhance the promotion of export initiatives and opportunities to Victorian exporters.

"This alliance will help EFIC and VECCI do more for Victorian businesses engaged in export and overseas investment," says Angus Armour, Managing Director, EFIC.

VECCI Chief Executive Officer, Neil Coulson, said that VECCI has always had a strong trade focus and that the alliance will enhance VECCI's strong suite of trade services and networks.

In particular, EFIC will work with VECCI's International Trade Department to increase awareness of EFIC's role in expanding export opportunities through its finance and insurance products.  VECCI's International Trade Department assists thousands of members in their exporting endeavours through a range of workshops, networking functions and international consulting services. 

In 2003/2004, EFIC supported $2.2 billion of exports and investments across a number of countries in Asia, Africa, the Middle East and North America. Victorian export figures for the June 2004 quarter were also impressive. According to the Department of Foreign Affairs and Trade, Victoria's merchandise exports for the June quarter increased by 20 percent compared to the June quarter last year - which is an increase of $843 million.

EFIC has recently worked with a number of Victorian companies in relation to their exports and overseas investments, including Oceanis Holding Limited, Gold Peg International Pty Ltd, Bytecraft Automation Pty Ltd, McConnell Dowell Constructors (Aust) Pty Ltd, and Thales ATM Pty Ltd. 

About EFIC
EFIC is Australia's export credit agency and assists Australian companies exporting and investing overseas by providing a range of competitive medium to long-term finance and insurance services. Products include Direct Loans, Export Finance Guarantees, Advance Payment and Performance Bonds, Medium-term Payments Insurance and Political Risk Insurance.

About VECCI
The Victorian Employers' Chamber of Commerce and Industry (VECCI) is Victoria's most influential employer group.  An independent, non-government body, VECCI services 25,000 business annually and was founded by the business community in 1851 to represent business.

For further information contact:

Nicholas Giurietto
Head of Marketing
Export Finance and Insurance Corporation
Tel: +61 2 9201 5209