Page 87 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024

6/4/24, 4:02 PM Etihad Credit Insurance records 21-fold growth in gross exposure - Middle East News 247

H.E. Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of ECI Board of Directors, said:
“Under the guidance of our wise leadership, the UAE has achieved outstanding successes on regional and

international levels, solidifying its standing as the region’s leading hub for trade and investment. With an
emphasis on emerging industries and SMEs, we will 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.

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