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EFIC resumes short term insurance cover for Vietnam



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MINISTER FOR

INDUSTRY, TECHNOLOGY and COMMERCE SENATOR JOHN BUTTON

IMMEDIATE RELEASE 22 OCTOBER 1991

EPIC RESUMES SHORT TERM INSURANCE COVER FOR VIETNAM

The Minister for Industry, Technology and Commerce, Senator John Button, announced today that the Export Finance and Insurance Corporation (EFIC) is resuming short-term insurance cover for exports to Vietnam.

Senator Button said the number of significant export opportunities for Australian companies in Vietnam warranted a facility of this kind.

"Australian companies are already involved in major projects in Vietnam in telecommunications, food processing and other sectors", he said. "Combined with the re-opening of bilateral aid, this facility will ensure that our companies build on the

foothold we have in this growing market".

Senator Button said that EFIC would make up to $10 million available. ;

The announcement follows a recent Government decision, announced on 9 October, to resume direct bilateral aid to Vietnam. Senator Button said the time was now ripe to broaden Australia's

relationship with Vietnam and to increase our contribution to that country's development.

Exporters interested in details of the new arrangements should contact Mr James Moore in EFIC on telephone (02) 390 2265.

Contact: Geoff Leach :

Senator Button's Office PH: (06) 277 7580

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