On 07 September 2015 the International Chamber of Commerce (ICC) launched its Global Export Finance Committee, which is an export finance working group, chaired by Eric de Jonge, Global Head of Structured Export Finance at ING Bank. The launch event of the Committee takes place in Barcelona, Spain, and is supported by many leading banks across the export finance industry.
Operating under the umbrella of the ICC Banking Commission, the committee is the first step towards building a real global export finance community - representing medium- and long-term (MLT) export finance banks.
The Global Export Finance Committee has three key objectives: (1.) To create a credible standing global discussion forum of banking experts in MLT export financing; (2.) To create a representative body to discuss industry matters with various stakeholders; and (3.) To advocate for and help develop improvements and efficiencies through the standardisation and harmonisation of processes and regulations.
The Global Export Finance Committee aims to not only act as a discussion forum and a body to exchange information and views on export finance but also to enable improvements and increase the efficiency of the processes and regulations governing the export financing industry as a whole.
According to the ICC, although the export financing industry as a whole is relatively small, it serves an important purpose for OECD governments as well as governments in emerging markets - enabling and facilitating international trade and economic activity. Indeed, governments in many countries are exploring how they can more efficiently support exports, investments and trade.