The Productivity Commission will hold an inquiry into the Government-owned Export Finance and Insurance Corporation (EFIC.)

The inquiry will consider the role for government involvement in export credits, insurance, reinsurance and other financial services.

A statement by Trade Minister Craig Emerson and Assistant Treasurer Bill Shorten says it will also consider EFIC’s funding arrangements and interaction with the private sector.

The inquiry’s terms of reference are available and an issues paper will be released next month, with submissions due in mid-November.

The commission will release a draft report in mid-February, hold public hearings in March and deliver its final report to the government in May.