Page 23 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024

Press Release

continue to broaden and diversify our economy according to the ‘We the UAE 2031’ vision,
which aims to increase the country's non-oil exports to AED 800 billion and raise the volume

of non-oil foreign trade to AED 4 trillion by the next decade.”

H.E. Bin Touq added: “Etihad Credit Insurance has significantly contributed to advancing this
national vision by fostering the expansion of domestic trade and enterprises and facilitating

crucial economic relations through comprehensive economic partnership agreements (CEPAs).

The company’s innovative credit solutions and 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 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