Page 523 - MOE ENGLISH PR - MAY 2024

5/27/24, 4:23 PM PRESSR: Etihad Credit Insurance records 21-fold growth in gross exposure by end of 2023 to reach AED 9.6bln in 5 years — Tra…
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.”

His Excellency stated that ECI’s recent commitments to clean and

green energy initiatives further signify its role as a driving force

towards sustainability. “ECI's support has been financial as well as

strategic, contributing to the 2030 Agenda for Sustainable

Development through support for non-oil trade, while also ensuring

compliance with international standards,” H.E. Bin Touq added.

The report highlighted ECI’s notable role in fostering the expansion

of the UAE’s non-oil exports, covering 3.1 per cent out of AED 441

billion in 2023, compared to 1.9 per cent in the previous year. This

growth was supported by a diverse portfolio, with over two-thirds of

beneficiaries comprising small and medium-sized enterprises (SMEs),

while large corporations represented another 20.9 per cent. This

underscores ECI’s significant contribution to the UAE’s progress

towards its 2031 foreign trade targets.

H.E. 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

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