Page 55 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024

billion in non-oil UAE exports by the next decade, thereby enhancing the growth and
sustainability of the UAE economy.”
Bin Touq added: “Thanks to our wise leadership, the UAE continues its efforts to build a
more diverse, sustainable, and resilient economic system. This initiative complements
national endeavors, particularly focusing on enhancing the role of non-oil industries,
exports, re-exports, and non-oil foreign trade in the country’s GDP. These sectors are vital
for the transition towards the new economic model based on diversity and innovation.”
Bin Touq asserted: “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.”
The ‘Xport Xponential’ initiative supports UAE-based businesses engaged in the export or re-
export of non-oil products, with a special focus on small and medium-sized enterprises
(SMEs). Through this initiative, Etihad Credit Insurance aims to provide beneficiaries with
access to innovative financial solutions through partnerships with the financial and banking
sectors. Additionally, the initiative offers access to a vast database of over 300 million
companies worldwide and provides significant facilities to enter the markets of countries
that are part of the Comprehensive Economic Partnership Agreements (CEPA).
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 Comprehensive Economic Partnership Agreements (CEPA).”
Qualitative Partnerships with Strategic Dimensions:
The ‘Xport Xponential’ initiative’s partner network spans various federal and local entities,
including the Department of Economy and Tourism in Dubai; Ajman Economic Development
Department; Fujairah Department of Industry and Economy; Khalifa Fund for Enterprise
Development and Ras Al Khaimah Economic Zones (RAKEZ). Additionally, the financial and
banking partners of the initiative include the Emirates Development Bank (EDB), Abu Dhabi
Commercial Bank (ADCB), Dubai Commercial Bank (CBD), Ajman Bank, Ras Al Khaimah
Bank, and Fujairah National Bank (NBF). More institutions and companies from both
government and private sectors are expected to join the initiative’s partner list in the next
phase.

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