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This underscores ECI’s significant contribution to the UAE’s progress towards its
2031 foreign trade targets.

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 percent increase in policies issued
compared to 2022.”

Al Mazrouei added, “As we continue to adapt and grow, expanding ECI’s
services to strengthen national exports stands as our primary objective, marking
a significant leap forward in our capabilities and outreach. This new strategic
phase aims to double the growth rate of UAE exports through ECI and increase
our contribution to the non-oil GDP by 7-fold by 2031.”

The 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 AED14 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 AED82
million. It showcases ECI’s significant contributions to facilitating access to
financing for UAE exporters, with over AED1.8 billion worth of credit coverage
provided to financial institutions over the past five years. It also stated that ECI
secured AA- international rating by Fitch for the fifth consecutive year, reflecting
on the company’s ability to mitigate potential risks and reiterating its strong
presence in global markets.

Furthermore, the report stated that ECI has given a credit cover of AED4.7 billion
to UAE’s industrial sector, a key contributor to non-oil exports, with AED1.4 billion
committed in 2023 alone, enabling manufacturers’ exports achievement and in
line with the company’s partnership with the Ministry of Industry and Advanced
Technology (MoIAT).

https://www.msn.com/en-ae/news/other/eci-records-21-fold-growth-in-gross-exposure-by-end-
2023-to-reach-aed96-billion-in-5-years/ar-BB1mQRfn