Page 543 - MOE ENGLISH PR - MAY 2024

“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,” said Al Mazrouei.

“As we continue to adapt and grow, expanding ECI’s services to strengthen national
exports is 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,” Al
Mazrouei said.

The report stated that ECI’s global outreach efforts supportedUAE 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.

ECI has given a credit cover of Dh 4.7 billion to UAE’s industrial sector, a key
contributor to non-oil exports, with Dh1.4 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).

ECI’s projects seek to support economic development and improve the quality of living,
including a credit insurance commitment of $500 million to boost Africa’s clean energy
transition as part of the UAE’s $4.5 billion Africa Green Investment initiative. The

company supported clients with management of late payments worth Dh415 million, of
which Dh 353 million or 83 per cent were successfully recovered, the annual report
added.

https://www.khaleejtimes.com/business/uae-seeks-to-boost-non-oil-exports-to-dh800b-by-2031-
al-marri