Trade minister hails department’s ‘crucial’ role for Scottish exporters

Trade policy minister Douglas Alexander said Scottish companies have benefited from export finance deals worth £42 million which were brokered by a UK Government department since last summer.

Mr Alexander, who is also MP for Lothian East, said UK Export Finance (UKEF) was “crucial” to helping Scottish exporters grow.

The department is the UK’s export credit agency and helps exporters to access working capital and government guarantees.

It has brokered deals worth £42 million for Scottish companies since July.

Companies to benefit from the deals include Aberdeen-based First Tech – an offshore services firm working in renewables.

UKEF helped one of its subsidiaries renew a £12 million support package to help it access the global offshore wind market.

On Thursday, the trade policy minister will attend the Made in Scotland, Sold to the World exporters roadshow in Edinburgh.

Mr Alexander said: “Growing the economy is a key part of this UK Government’s plan for change and we recognise the importance of boosting Scottish exports in achieving this.

“We’re working hard to ensure that Scottish businesses have the support they need to sell to the world and grow, and the help that UK Export Finance provides is a crucial part of this.”

Martin Suttie, First Tech’s chairman, said: “Floating wind technology enables almost every country in the world to integrate floating wind renewable energy into their energy mix.

“It is therefore vitally important that the industry continues to develop and prove large-scale commercial developments if we are going to genuinely change the energy mix around the globe.

“The First Tech Group is excited to play an important part in making this transition happen.”