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Senate motion on WTO emergency powers to save Port Kembla steel industry

The Abbott government will be asked to activate World Trade Organisation emergency powers to save the Port Kembla steel industry if a motion before the Australian Senate is passed.

The motion, to be debated on Thursday 10 September, has been moved by Greens NSW Senator Lee Rhiannon and Victorian independent Senator John Madigan. Full wording of the motion is below.

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Speech: Export Finance and Insurance Corporation Amendment (Direct Lending and Other Measures) Bill 2014

Senator RHIANNON (New South Wales) (09:43): The first part of the Export Finance and Insurance Corporation Amendment (Direct Lending and Other Measures) Bill 2014 does extend the mandate of Efic's activities from supporting the export of capital goods, to all goods. So we are really going from a situation where so many of Efic's loans went for large mining projects and the infrastructure that supported them, and other related projects, to really being about services, consumer goods and many aspects of what are called SMEs, small and medium sized enterprises.

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Estimates: Foreign Affairs, Defence and Trade Legislation Committee (Export Finance and Insurance Corporation)

CHAIR: We will now move on to the Export Finance and Insurance Corporation.

Senator RHIANNON: Mr Hunter, in your letter to the Canberra Times on the ninth of this month you stated:

EFIC's independent directors have additional directorships within the finance community.
I am actually really tight for time; the chair is on my tail. So, if that is not a short answer, can you take this on notice? Can you state what those additional directorships are for your independent directors?

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