Page 13 - ECI PR REPORT JANUARY 2025

Press Release

accessibility to the world, building meaningful partnerships with numerous regional and
international markets, and increasing the non-oil sector's contribution to the national GDP

by 75 per cent.

Praising ECI's high credit rating, H.E. Bin Touq said: “ECI’s favourable rating from Fitch

ratings demonstrates the confidence of business communities in the national economy, and
promotes its reputation regionally and globally, thereby consolidating the country’s

position as a leading hub for business and trade. In keeping with the ‘We the UAE 2031’

initiative, which aims to increase the country's GDP to AED 3 trillion by the next decade
and increase non-oil exports to AED 800 billion, the latest milestone highlights our national

efforts to strengthen the company's crucial role in creating a competitive environment for
exporters and importers, while helping increase the momentum of export and re-export

activities of UAE-based companies.”

Many factors have contributed to ECI's latest milestone, including government support,

especially as the UAE's federal export credit agency, coupled with its capital strength and
the absence of any financial constraints. Other key determinants also included the

company's robust reinsurance program, its unparalleled expertise in the field, and the
capacity to insure the risks associated with UAE foreign trade.

H.E. Raja Al Mazrouei, CEO of ECI, underlined that this rating is one of the highest
rates offered by specialised agencies, making it a new gauge of the company's financial

performance and risk tolerance strength. This success, Her Excellency said, is the outcome
of ECI’s strategic roadmap, which aims to increase the volume of credit assistance

provided to manufacturers and exporters. “The AA-rating further helps ECI provide its

services and solutions more effectively worldwide, boosts national export competitiveness,
and makes it easier for Emirati products to reach targeted global markets,” H.E. Al

Mazrouei added.

Since its inception, Etihad Credit Insurance has played a crucial role in supporting the
national economy and non-oil foreign trade. By enabling local trade and manufacturing

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