Aussie boosts exports to RI

Aussie boosts exports to RI

CANBERRA (Bloomberg): Australia extended the trade credit
insurance it provides to businesses exporting to South Korea and
Indonesia by a four months, the government said Tuesday.

The extension takes the deadline to the end of July, though
the government said it will reduce the amount to Korea to A$300
million (US$191 million) from A$500 million announced in May last
year.

"This decision will help Australian exporters to
maintain trade with Asia in difficult times and to consolidate
market share in these two countries," said Trade Minister Tim
Fischer.

South Korea is Australia's third-largest export market
after the U.S., taking A$6.4 billion in Australian exports
last year.

Indonesia was Australia's 10th-biggest trading partner. The
credits are made available through the Export Finance and
Insurance Corporation on the government's National Interest
account.