Page 43 - ETIHAD CREDIT INSURANCE PR REPORT - JULY 2024

8/2/24, 1:10 PM ECI, IDB sign cooperation agreement to support ‘Xport Xponential’ initiative – The UAE Press
Dr. Ziad Khalaf Abed Kareem, Chairman of the IDB Borad, stated, “We, at the International
Development Bank, are committed to further strengthen our presence and contributions to the UAE’s
and the region’s trade and export landscape and helping build trade channels between the UAE and Iraq
markets. Our goal is to use this partnership to encourage businesses in both nations to capitalise on this
revolutionary initiative and expand their export and trade operations into previously untapped markets.”

As one of the partners in the ‘Xport Xponential’ initiative, the International Development Bank will now
offer additional funding opportunities for export and re-export companies in the UAE. The agreement
further advances the development of credit solutions by providing businesses with access to the markets
of Iraq and CEPA countries. The agreement also emphasises the strategic partnership between the two
countries and promotes trade and export routes that link them, especially since the UAE-Iraq trade
volume exceeds US$27 billion annually. Notably, the International Development Bank has contributed
at least 10 percent of the yearly trade between the two nations in just its first two years of operation in
the United Arab Emirates.

Tags: #IRAQ (IRQ) #UAE

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