Identifier
Created
Classification
Origin
07AITTAIPEI248
2007-02-01 08:23:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
American Institute Taiwan, Taipei
Cable title:  

TAIWAN EXPORT CREDITS FOR SHIPMENTS TO IRAN

Tags:  EFIN MNUC OECD TW 
pdf how-to read a cable
VZCZCXYZ0020
RR RUEHWEB

DE RUEHIN #0248 0320823
ZNR UUUUU ZZH
R 010823Z FEB 07
FM AIT TAIPEI
TO RUEHC/SECSTATE WASHDC 3952
INFO RUEHSS/OECD POSTS COLLECTIVE
RUEHBJ/AMEMBASSY BEIJING 6311
RUEHJA/AMEMBASSY JAKARTA 4001
RUEHLJ/AMEMBASSY LJUBLJANA 0016
RUEHNE/AMEMBASSY NEW DELHI 0176
RUEHTN/AMCONSUL CAPE TOWN 0079
RUEKJCS/SECDEF WASHINGTON DC
RUEATRS/DEPT OF TREASURY WASHDC
RUCPDOC/DEPT OF COMMERCE WASHINGTON DC
UNCLAS AIT TAIPEI 000248 

SIPDIS

SENSITIVE
SIPDIS

STATE FOR EB/IFD/ODF, EB/ESC/TFS AND EAP/TC
TREASURY FOR IA/OFFICE OF TRADE FINACE

E.O. 12958: N/A
TAGS: EFIN MNUC OECD TW
SUBJECT: TAIWAN EXPORT CREDITS FOR SHIPMENTS TO IRAN

REF: SECSTATE 4760

Taiwan Export-Import Bank
-------------------------

UNCLAS AIT TAIPEI 000248

SIPDIS

SENSITIVE
SIPDIS

STATE FOR EB/IFD/ODF, EB/ESC/TFS AND EAP/TC
TREASURY FOR IA/OFFICE OF TRADE FINACE

E.O. 12958: N/A
TAGS: EFIN MNUC OECD TW
SUBJECT: TAIWAN EXPORT CREDITS FOR SHIPMENTS TO IRAN

REF: SECSTATE 4760

Taiwan Export-Import Bank
--------------


1. (SBU) Per reftel request, AIT/T Econ Chief on January 24,
25 and 26 requested Taiwan banking authorities provide
information on the status of export credit facilities Taiwan
provides to Iran. While Taiwan authorities are still
gathering comprehensive information to respond to our
request, the President of Taiwan's Export-Import Bank, LII
Sheng-yann, told us January 25 that Taiwan provides about
US$13 million in short-term credits for Taiwan exporters to
conduct business with Iran. President LII said their
long-term exposure was "very small."


2. (SBU) LII, along with his two Executive Vice Presidents,
Charles C.C. WANG and Robert R.F. CHU, emphasized that Taiwan
EXIM Bank has no relationship of any kind with either Iranian
banks or Iranian companies. LII said his bank only extends
credit to Taiwan exporters. Taiwan's EXIM also provides
export credit insurance of around US$20 million. They said
they have never had a claim filed on Iran for the insurance
they have provided and do not have any delinquent accounts on
the credit side either.

Central Bank Collecting Data
--------------


3. (SBU) On January 24, we met with George CHOU, Director of
the Foreign Exchange Department, Central Bank of China (CBC).
We advised him that the U.S. is proposing to limit export
credits for Iran and that as a first step we would like to
understand the nature and volume of export credits Taiwan may
be extending to Iran. CHOU said he believes Taiwan's
Export-Import bank extends credits for trade with Iranian
companies and agreed to find out how much business is done by
Taiwan's official credit agencies and also see if data is
available on credits that may be provided by private
commercial banks. CHOU also suggested we meet with the
Financial Supervisory Commission (FSC),Taiwan's banking
regulator. On January 31, CHOU notified us that he is still
collecting information and believes that several private
commercial banks in Taiwan provide export credits for trade
with Iran. AIT will forward further information upon receipt.

Banking Supervisor
--------------


4. (SBU) On January 26, per CHOU's suggestion, we visited the
FSC and met with CHANG Tzy-hao, Assistant Director, Banking
Bureau, LO Tien-hui, Director, International Affairs
Department and several staff people. We posed the same
question to FSC as we had to CBC. The FSC staffers also
agreed to look into the question, but did not have any
immediate information on the amount or type of credits
available for trade with Iran.
WANG