Considerations on COM(2021)195 - EU Position on procedures on entry of the UK to the Sector Arrangement Understanding on Export Credits for Civil Aircraft (“ASU”)

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dossier COM(2021)195 - EU Position on procedures on entry of the UK to the Sector Arrangement Understanding on Export Credits for Civil Aircraft ...
document COM(2021)195 EN
date June  7, 2021
 
table>(1)The guidelines contained in the Arrangement on Officially Supported Export Credits (the ‘Arrangement’) developed within the framework of the Organisation for Economic Cooperation and Development (OECD) apply in the Union by virtue of Regulation (EU) No 1233/2011 of the European Parliament and of the Council (1).
(2)The Participants to the Arrangement are Australia, Canada, the European Union, Japan, Korea, New Zealand, Norway, Switzerland, Turkey and the United States.

(3)The Sector Understanding on Export Credits for Civil Aircraft (the ‘ASU’) is contained in Annex III to the Arrangement and is an integral part of the Arrangement. The ASU therefore also applies in the Union by virtue of Regulation (EU) No 1233/2011.

(4)The Participants to the ASU are Australia, Brazil, Canada, the European Union, Japan, Korea, New Zealand, Norway, Switzerland and the United States.

(5)The Arrangement, including the ASU, provides a framework for the orderly and transparent use of officially supported export credits in their respective areas of application. It seeks to foster a level playing field for officially supported export credits, in order to encourage competition among exporters based on quality and price of goods and services exported rather than on the most favourable officially supported financial terms and conditions.

(6)The United Kingdom of Great Britain and Northern Ireland (the ‘United Kingdom’) withdrew from the Union with effect from 1 February 2020 (2).

(7)In accordance with Article 3 of the Arrangement, Members of the OECD who are not Participants to the Arrangement and non-members of the OECD may be invited to become Participants by the current Participants. A non-Participant to the ASU may become a Participant thereto in accordance with the procedures set out in Appendix I to the ASU.

(8)In a letter of 28 January 2021, the United Kingdom requested that the Participants to the Arrangement and the Participants to the ASU agree to it becoming a Participant to the Arrangement and to the ASU, respectively. The Participants to the Arrangement and the Participants to the ASU are to decide by written procedure on those requests.

(9)It is appropriate to establish the position to be taken on the Union’s behalf on the decision to be adopted by the Participants to the Arrangement, as well as the position to be taken on the Union’s behalf on the decision to be adopted by the Participants to the ASU, as both envisaged decisions will be binding on the Union by virtue of Article 2 of Regulation (EU) No 1233/2011,