Page 514 - MOE ENGLISH PR - MAY 2024

increase the country's non-oil exports to Dh800 billion and raise the volume of non-oil

foreign trade to Dh4 trillion by the next decade,” said Abdulla Bin Touq Al Marri, minister
of economy and chairman of ECI.

“Etihad Credit Insurance has significantly contributed to advancing this national vision
by fostering the expansion of domestic trade and enterprises and facilitating crucial

economic relations through comprehensive economic partnership agreements (CEPAs).
The company’s innovative credit solutions and strategic collaborations have enhanced
the competitiveness of UAE businesses worldwide. This not only diversifies the UAE’s
economic landscape but also propels its non-oil exports forward,” he said.

Raja Al Mazrouei, Chief Executive Officer of ECI, said: “We are committed to providing
innovative credit solutions, facilitating easy access to finance, offering expert market
insights, and nurturing strategic collaborations in line with our vision and mission to
foster sustainable and secure non-oil trade for the UAE’s economy. We empower UAE
businesses to confidently participate in global trade, driving towards a robust and well-
diversified economy.

"Leveraging our innovative approach and meticulously crafted 2023 business plans, ECI
has emerged as a beacon of stability for UAE enterprises. We have seen a significant
increase in the demand for our services, with a remarkable surge in insured trade and
investment transactions. Our dedication to protecting the interests of UAE exporters is

evident in the numbers, with a 25 per cent increase in policies issued compared to
2022.”

The annual report stated that ECI’s global outreach efforts resulted in the support of
UAE exporters across 17 sectors in 110 countries, amounting to a non-oil trade and
investment of Dh14 billion in 2023. This success was facilitated by approximately 21

agreements signed with government export credit agencies worldwide, solidifying ECI’s
position as a trusted partner for international trade.

Additionally, the report highlighted ECI’s commitment to supporting clients beyond credit
insurance. This commitment was demonstrated by the company’s effective handling of
overdue payments, leading to the collection of Dh82 million.

https://www.khaleejtimes.com/business/uae-etihad-credit-insurance-records-21-fold-growth-in-
gross-exposure-in-5-years