Page 37 - ETIHAD CREDIT INSURANCE PR REPORT - JUNE 2024
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7/1/24, 10:07 AM  Etihad Credit Insurance partners with EGAP to streamline process of mutual reinsurance obligations and foster bilateral trade betw…
        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.


        H.E. 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 maximize its benefits.”


         H.E. 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 constructions.













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