30/03/2017 (Agence Europe) – On Wednesday 30 March, the European Commission approved the Latvian short-term export-credit insurance scheme. The Commission concluded that the type of insurance cover provided by the scheme to exporters established in Latvia is unavailable in the private market. There is a lack of insurance coverage for small and medium-sized enterprises with a small export turnover, and for single export transactions for a duration of one half to two years. The Commission explains that private insurers are less interested in this type of transactions. The Latvian scheme, which is authorised until the end of 2022, will allow the state to cover risks of single export transactions and risks incurred by SMEs with a small export turnover. (EL)