The World Trade Organisation (WTO) handles international trade regulations. The objective of the WTO’s regulations is to assist producers of goods and services, exporters and importers in conducting their business and facilitating trade between countries.
There are no regularly recurring export credit activities involving the WTO. Instead, issues are raised on an ad hoc basis in conjunction with reviews of trade and subsidy regulations and in panels/disputes.
The WTO Agreement on Subsidies and Countervailing Measures (ASCM) contains a fundamental rule stipulating that government export credit guarantee operations must break even in the long term. In other words, the guarantee premiums must cover all costs.
The WTO has come to an agreement on agricultural product exports which stipulates a maximum repayment period of 18 months and premiums that reflect the risk. The effective date of the agreement for EKN is 31 December 2017.