Legal Regulation Of The Multilateral Trading System Under The Export Credit

Export credit is bom with the developrnent of intemational trade. In order tosupport export of commodity, service and technology, the govemment ofexporting country would provide the means of interest subsidy, guarantee andinsurance program to encourage the banks to provide loans with lower interestrates and longer repayment terms, by which means either exporters or importerscould defer payment.In light of the importance of export credit in encouraging exporting, countriestend to protect their own products by using it, which undoubtedly leads toconfusion of intemational trade order. Before establishment of WTO, theintemational community aims to solve this problem through stipulating the rules ofexport credit in the instruments such an "Agreement of Beme Union" and"Arrangement on Guidelines for Offidally Supported Export Credits"(alsoknown as " Gentlemen' Agreement"), between which the latter one has moredetailed and accepted rules, thus more deep influence.The disciplines of multilateral trade system have been strengthened sinceestablishment of WTO. Both " Agreement on Subsidies and CountervailingMeasures" and" Agreement on Agriculture" involve regulations on export credit, albeit "improvements need to be furthered. Especially in AnnexⅠ"Illustrative Listof Export Subsidies" of ASCM, the contents in (k) provide the safe harbor for theparticipants of Gentlemen' Agreement, which seems unfair to developingcountries due to the fact that most of them are not participants of Gentlemen'Agreement. What's more, " Agreement on Agrioalture" has yet to develop specificdisciplines on export credit. This thesis tries to clarify some questions about exportcredit in application through relative cases settled under DSM of WTO. In addition, the issue involving the battle of benefits between developing countries anddeveloped countries still remains to be resolved in the Doha Round Negotiations.For the time being, the system of export credit in our country still remains tobe improved in accordance with the international practices. Having entering WTO, we face more challenges as well as opportunities, for example we already open theoverall financial service for foreign banks in accordance with promises. We can imagine the fierce competition in the business in export credit. For the sake of ourown and the developing countries, we should make good use of DSM of WTOand actively involve in laying down rules of international trade.The main contents of the paper include: (1) survey of export credit, includingthe definition, characters and types;(2) intemational instruments on export creditprior to Agreement of WIO;(3) clarification of application of export credit undermultilateral trade system through relative cases;(4) the proposals on how to reviseand develop disciplines about export credit by WTO members;(5) how to perfectthe export credit system of our country in accordance with international practices.