Page 35 - ETIHAD CREDIT INSURANCE PR REPORT - JUNE 2024

7/1/24, 10:07 AM UAE enjoys growing and developing economic relations with Czech Republic: Minister of Economy
agreements in many economic and investment sectors. The new partnership agreement with EGAP
complements these efforts as it comes within the framework of the distinct economic partnership between

the two countries.

"The agreement will promote the creation of new economic prospects between the two exporters'
communities in the two countries and contribute to the consolidation of common economic relations,

thereby supporting the establishment of the UAE as a global partner and attractive and influential economic
centre by the next decade in light of the goals of the ‘We the UAE 2031’vision.”

The agreement calls for robust cooperation across a broad spectrum of duties, such as addressing risks
related to sovereign and quasi-sovereign debtors, explore innovative avenues in improving flexibility for

private sector debtors, and offering insurance facilities for export agreements that are in accordance with the
official guidelines of the Organisation for Economic Co-operation and Development (OECD) Arrangement on

Officially Supported Export Credits.

Furthermore, this agreement cultivates a strong foundation for bilateral cooperation in areas of common

interest, which is beneficial to both countries’ export and foreign trade industries.

David Havlicek, stated, “We are confident that this agreement will contribute to advancing trade and
investment between the two countries in the coming period. Providing export credit solutions to Czech and
UAE companies will undoubtedly boost their confidence and security, encouraging them to expand the scope

of their mutual business and investments. We will work side by side with our partners in the UAE to
guarantee the success of this agreement and maximise its benefits.”

Raja Al Mazrouei, CEO of Etihad Credit Insurance, said, “This agreement aligns with ECI’s steadfast

commitment to broadening its global network of partnerships with strategic markets, offering innovative
credit solutions, streamlining export operations, reducing risks, and fostering confidence in exports, re-
exports, and foreign trade channels.”

The Agreement demonstrates Etihad Credit Insurance's steadfast dedication to enhancing cooperation with

export credit agencies. Over the past few years, Etihad Credit Insurance has successfully formed around 21
cooperation agreements with government export credit agencies across the globe. This move further helps

to broaden the ECI’s network of collaborations, which is a crucial component of the recently introduced
strategic initiative ‘Xport Xponential’. This initiative aims to support the growth of UAE exports and increase
the diversity of the national economy while also promoting its sustainability.

EGAP is a specialised state-owned credit insurance company that focuses on the insurance of non-

marketable commercial risks associated with exports of goods and services from the Czech Republic.

The company’s primary focus lies in providing bank loans with a maturity of more than two years in order to
finance the export of energy, machinery, technological systems, investment projects and transport

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