BIFA Director General, Robert Keen says: “We understand that UK businesses are now eligible to secure export insurance cover to major international markets, in addition to export finance, to keep trading during the coronavirus outbreak.
“We also understand that DIT is ready to provide assistance with customs authorities to ensure smooth clearance of businesses’ products, and to offer advice on intellectual property and other issues with business continuity.
“These are the sort of initiatives that can support international exports and are welcome news for BIFA members, which as freight forwarders, are responsible for the logistics services that underpin much of Britain’s visible domestic and international trade.”
The DIT says that UK businesses will now be eligible to secure export insurance cover to markets including the EU, US, Japan, Australia, New Zealand, Canada, Iceland, Norway and Switzerland with immediate effect, following UK Export Finance expanding the scope of its Export Insurance Policy (EXIP).
Keen added, “This follows the news that the government will waive import taxes on medical equipment crucial to the fight against coronavirus, much of which is shipped by BIFA members.
“If UK exporters are protected, that should have a knock on effect on the freight forwarders that many exporters rely upon to provide logistics services.”
