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2/20/25, 3:10 PM ECI highlights its role in empowering exports and supporting non-oil GDP - Middle East News 247

ECI highlights its role in empowering exports and supporting non-oil GDP

By News Desk 1 19/02/2025

Etihad Credit Insurance (ECI), the UAE’s Federal export credit company, highlighted the substantial role of the exports sector in driving sustainable
development and boosting economic diversity and sustainability. The company also reiterated its role in empowering export, re-export and non-oil foreign
trade of UAE-based companies, further strengthening the competitiveness of locally manufactured goods and facilitating their entry to international markets.
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This comes as part of its participation as a strategic sponsor at the 25 edition of the GTR MENA. During the event, which was held on February 18 and 19,
2025 at Jumeirah Emirates Towers in Dubai, ECI exhibited its advanced credit services at a dedicated pavilion and launched various initiatives designed to
support the country’s manufacturers and exporters. The company also highlighted its innovative credit solutions designed to boost the global and regional
competitiveness of local companies.
In the first half of 2024, the UAE’s non-oil GDP grew by 4.4% year-on-year, reaching AED 660 billion. The non-oil sector contributed 75% of the country’s
total GDP, while ECI’s total credit coverage reached AED 11 billion. ECI supported local exporters across 17 sectors in 110 markets and maintained its ‘AA-’
(very strong) Fitch rating for the seventh consecutive year, reflecting growing confidence in its financial solutions and its expanding role in export and foreign
trade.

During the event, H.E. Raja Al Mazrouei, CEO of ECI, participated in a session titled ‘Leadership, Innovation, and Sustainability: Empowering
Economic Growth.’ The session focused on the crucial contribution of small and medium-sized enterprises (SMEs) to global trade, highlighting their role in
fostering innovation, generating employment, enhancing trade dynamics and promoting economic diversification. During the session, she highlighted the
UAE’s progressive approach to nurturing economic growth and diversification by creating a supportive environment for SMEs. This is further reinforced by
flexible regulatory frameworks, growth-oriented policies, advanced infrastructure for business development and the UAE’s ambitious goal to become a global
industrial hub by 2031 through the UAE’s industrial strategy ‘Operation 300 Billion.’

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