Page 84 - ETIHAD CREDIT INSURANCE PR REPORT - JUNE 2024

UAE enjoys growing and developing economic

relations with Czech Republic: Minister of Economy

WAM
24 Jun 2024, 20:09 GMT+10

DUBAI, 24th June, 2024 (WAM) -- Etihad Credit Insurance (ECI), the UAE Federal
export credit company, inked a strategic partnership agreement with the Export
Guarantee and Insurance Corporation (EGAP) to create a framework for
bilateral reinsurance obligations and provide insurance facilities to companies
within the UAE and the Czech Republic, 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 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.

https://www.irishsun.com/news/274431282/uae-enjoys-growing-and-developing-economic-
relations-with-czech-republic-minister-of-economy