Page 50 - ETIHAD CREDIT INSURANCE PR REPORT - JUNE 2024

6/25/24, 1:32 PM UAE, Czech Republic ink agreement for bilateral reinsurance obligations, boost bilateral trade
UAE, Czech Republic ink agreement for bilateral reinsurance obligations, boost bilateral trade
Agreement falls within the framework of the distinct economic partnership between the
UAE and the Czech Republic

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 (Image: WAM)
Etihad Credit Insurance (ECI), the UAE’s federal export credit company, and Czech
Republic’s Export Guarantee and Insurance Corporation (EGAP) have inked a strategic partnership
agreement to create a framework for bilateral reinsurance obligations and provide insurance
facilities to companies within the UAE and the Czech Republic, further contributing to the
promotion of bilateral trade between the two countries.
Abdulla bin Touq Al Marri, Minister of Economy and Chairman of ECI Board of Directors, and
David Havlicek, Chairman of the Board of EGAP, signed the agreement.
Robust cooperation
The agreement calls for robust cooperation between the UAE and the Czech Republic across a
broad spectrum of duties, including addressing risks related to sovereign and quasi-sovereign
debtors, exploring innovative avenues in improving flexibility for private sector debtors, and
offering insurance facilities for export agreements that are under the official guidelines of the
Organisation for Economic Co-operation and Development (OECD) arrangement on officially
supported export credits.
Moreover, 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.
“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

https://economymiddleeast.com/news/uae-czech-republic-ink-agreement-for-bilateral-reinsurance-obligations-boost-bilateral-trade/ 1/2