Export Credit Office skating on thin ice

Three years and $3 million later the Export Credit Office is yet to do any business, says National's Associate Commerce spokeswoman, Pansy Wong.

"The Government's much-heralded ECO was promoted as a way for small and medium businesses to grow their business, but the Treasury has admitted that not a single export credit has been handed out."

She is commenting on an admission by the Minister of Finance in select committee today that the ECO's work could easily be absorbed by the New Zealand Economic and Trade Development Board.

The ECO was set up to provide cover for trade credit insurance- at no cost to the taxpayer, because the office was expected to cover its own costs in order to fulfil regulations of the WTO and OECD.

"It's clear that the Labour Government doesn't understand business because no one wants to do business with them," says Mrs Wong.

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