Supporting exporters in uncertain times
The volume of export credits and foreign direct investment insured by members of the Berne Union grew by 17% in 2011. The result is a record amount of $ 1.8 trillion of trade facilitated – more than 10% of international trade and the highest level ever reached in the history of the Berne Union.
Since the beginning of the global financial crisis in 2008, credit and investment insurers have stepped up to the plate, paying out $ 15 billion to exporters and investors, to indemnify them for losses suffered.
The high level of trade and investment supported is in line with the rebound of world trade and demonstrates the demand for risk mitigation products provided by Berne Union members.
Concluding the Spring Meeting of the Berne Union, hosted by ONDD in Brussels 22-25 April, Johan Schrijver, President of the Berne Union, said: “The global financial crisis is not over. Berne Union members are willing and able to continue supporting global growth, and we will sustain trade and investment into the recovery.”
The appointment of Peter Jones as the new Secretary General of the Berne Union was announced. Peter Jones, a UK national, has a distinguished career in credit and investment insurance as well as in the banking industry.