Page 33 - ETIHAD CREDIT INSURANCE PR REPORT - JUNE 2024

Credit Insurance, through this agreement, aims to fortify the economic bridge between the
UAE and the Czech Republic.
A key objective of this strategic partnership is to address risks associated with sovereign
and quasi-sovereign debtors. By doing so, the agreement aims to provide a safer
environment for exporters and investors, reducing uncertainties and fostering confidence.
Moreover, the partnership is designed to improve flexibility for private sector debtors,
thereby broadening the scope of support available to businesses. This comprehensive
approach is in line with the guidelines set by the OECD Arrangement on Officially Supported
Export Credits, ensuring that the insurance facilities offered are robust and reliable.
The UAE Federal Export Credit Company, Etihad Credit Insurance, has always been at the
forefront of providing innovative and effective solutions to support UAE exporters. This new
partnership with EGAP is a testament to ECI’s ongoing efforts to expand its global network
and enhance its strategic initiatives. ECI CEO, Raja Al Mazrouei, emphasized the alignment
of this agreement with ECI’s broader mission to support the UAE’s economic diversification
and growth. He highlighted that this collaboration would not only benefit exporters but also
contribute to the overall economic stability and prosperity of both nations.
The strategic partnership between ECI and EGAP is expected to significantly advance trade
and investment between the UAE and the Czech Republic. By boosting confidence and
security for businesses, the agreement will create a more favorable environment for
exporters and investors. This, in turn, will lead to increased economic activity and stronger
bilateral trade relations. The UAE Federal Export Credit Company, Etihad Credit Insurance,
plays a crucial role in this process by offering comprehensive insurance and reinsurance
solutions that mitigate risks and enhance business confidence.
One of the most important aspects of this partnership is its potential to promote new
economic prospects. By providing a reliable framework for bilateral reinsurance obligations,
the agreement will enable businesses in both countries to explore new markets and
opportunities. This will lead to greater economic diversification and resilience, which are key
goals for both the UAE and the Czech Republic. The UAE Federal Export Credit Company,
Etihad Credit Insurance, is committed to supporting this process by providing the necessary
financial tools and expertise.
Furthermore, the agreement includes provisions to offer insurance facilities for export
agreements in accordance with international standards. This ensures that the support
provided is not only effective but also compliant with global best practices. By adhering to
the OECD Arrangement on Officially Supported Export Credits, the partnership between ECI
and EGAP sets a high standard for international cooperation in the field of export credit
insurance.
The strategic partnership between ECI and EGAP is a significant milestone in the efforts to
consolidate common economic relations between the UAE and the Czech Republic. It
represents a commitment to long-term cooperation and mutual support. The UAE Federal
Export Credit Company, Etihad Credit Insurance, through this partnership, aims to create a
sustainable and prosperous economic environment that benefits all stakeholders.
The UAE Federal Export Credit Company, Etihad Credit Insurance, in partnering with EGAP,
demonstrates a powerful commitment to enhancing economic ties and supporting
exporters. This groundbreaking agreement is set to provide a robust framework for bilateral
reinsurance obligations and extensive insurance facilities, thereby boosting trade and
investment between the UAE and the Czech Republic. The strategic initiatives undertaken
by ECI, in collaboration with EGAP, highlight the importance of international partnerships in
driving economic growth and stability. As both nations look towards a future of increased
economic cooperation, this partnership stands as a testament to the strength and potential
of their bilateral relations.

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