Page 64 - ETIHAD CREDIT INSURANCE PR REPORT - JUNE 2024
P. 64

6/25/24, 1:33 PM                           UAE Aims To Boost Economic Relations With Czech Republic
        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.



        Havlicek said: "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."


        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.



      https://menafn.com/1108367288/UAE-Aims-To-Boost-Economic-Relations-With-Czech-Republic                        2/3
   59   60   61   62   63   64   65   66   67   68   69