Federal Government agency the Export Finance and Insurance Corporation (EFIC) has signed a reciprocal reinsurance agreement with the Israel Export Insurance Corporation, allowing Australian and Israeli companies to collaborate more easily on international contracts.

It is the sixth agreement EFIC has secured with counterpart export credit agencies (ECAs) over the past two years.

Under the agreements, the lead ECA provides export credit cover for the entire transaction on its usual terms. The other ECA, whose exporter is a sub-contractor, provides reinsurance for its portion of the transaction to the lead ECA.