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Export incentives

Particular incentives given by the State to promote exports. They may be in the form of grants or subsidies to exporting industries or additional credit facilities or tax exemptions. Such incentives are discouraged by the general agreement on tariffs and trade and are virtually excluded by the rules of the European Union. Perhaps the only surviving British incentive, apart from the aids offered by the Export Credits Guarantee Department, is the Qeen’s award for industry. given annually – prestige rather than cash.

Reference: The Penguin Business Dictionary, 3rd edt.