Page 55 - ETIHAD CREDIT INSURANCE PR REPORT - JUNE 2024

sustainable and diversified partnerships and 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.

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.

-Ends-

https://www.zawya.com/en/press-release/companies-news/etihad-credit-insurance-partners-
with-egap-to-streamline-process-of-mutual-reinsurance-obligations-c544t4u0