Page 53 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024

6/4/24, 4:38 PM Etihad Credit Insurance’s ‘Xport Xponential’ initiative to boost UAE exports
and Fujairah National Bank (NBF). More institutions and companies from both government and
private sectors are likely to join the initiative’s partner list in the next phase.
Partnership criteria
Etihad Credit Insurance targets UAE-based companies with audited financial statements for at least
three years and an annual turnover ranging from AED10 million to AED250 million in the previous
fiscal year. Eligible businesses must have recently ventured into export activities from the UAE or
have plans to do so.
Boosting growth of exports
Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of the Board of Directors of Etihad
Credit Insurance, said: “The launch of the ‘Xport Xponential’ initiative is a significant step towards
boosting the growth of UAE exports and strengthening their competitiveness in international
markets. This initiative introduces an innovative trade and insurance platform, creating new
opportunities for UAE-based exporters to increase their exports. It aims to support the targets of the
‘We the UAE 2031’ vision by reaching AED800 billion in non-oil UAE exports by the next decade,
thereby enhancing the growth and sustainability of the UAE economy.”
“Through this initiative, we aim to motivate the country’s exporters to explore growth opportunities
in vital sectors and improve the access of non-oil UAE products to global markets. This initiative
extends beyond credit and risk management solutions, offering manufacturers and exporters in the
UAE consulting and strategic insights to strengthen their export capacities,” he added.
Raja Al Mazrouei, CEO of Etihad Credit Insurance, said: “The initiative underscores our dedication
to strengthening exporters within the UAE. It signifies the importance we place on fostering
cooperation and strategic partnerships to boost the export sector in the country. This step will
enhance the export capacities of UAE-based enterprises and advance the visibility of non-oil UAE
products in targeted markets. This will be achieved through the implementation of a comprehensive
financing framework and the utilization of our extensive strategic partnership network across the
globe. Additionally, the initiative aims to enhance trade exchange routes between the UAE and its
partners, building on the trust and cooperation established by the CEPA.”
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