Page 38 - ETIHAD CREDIT INSURANCE PR REPORT - JUNE 2024

6/25/24, 1:29 PM Home | Emirates News Agency

Home
Home Business Sports Culture Sci/Tech Miscellaneous My views English
Latest News GCC Middle East World Tolerance COP28 Global Media Congress

UAE enjoys growing and developing economic relations with Czech Republic: Minister of Economy
Monday, June 24, 2024 2:09 PM3 minutes Reading

Summary A+

DUBAI, 24th June, 2024 (WAM) -- Etihad Credit Insurance (ECI), the UAE Federal export credit company, inked a strategic partnership agreement with the Export Guarantee
Insurance Corporation (EGAP) to create a framework for bilateral reinsurance obligations and provide insurance facilities to companies within the UAE and the Czech Repub
contributing to the promotion of bilateral trade between the two countries during the next phase.
The agreement was signed by Abdullah bin Touq Al Marri, Minister of Economy and Chairman of ECI Board of Directors, and David Havlicek, Chairman of the Board of EGAP
Bin Touq said, “The UAE enjoys growing and developing economic relations with the Czech Republic, where the two countries have succeeded in their joint efforts to build su
and diversified partnerships and agreements in many economic and investment sectors. The new partnership agreement with EGAP complements these efforts as it comes w
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 com
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
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
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
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
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 ex
solutions to Czech and UAE companies will undoubtedly boost their confidence and security, encouraging them to expand the scope of their mutual business and investment
work side by side with our partners in the UAE to guarantee the success of this agreement and maximise its benefits.”

https://wam.ae/en/article/b3ts1ij-uae-enjoys-growing-and-developing-economic 1/2