Page 160 - MOE ENGLISH PR REPORT - JANUARY 2025

into a strong economy that relies on diverse resources and is capable of adapting to global
changes.

According to Al Marri, the nation has adopted flexible and proactive economic policies and
strategies, that have been instrumental in promoting the competitiveness of national products in
foreign markets, encouraging economic accessibility to the world, building meaningful partnerships
with numerous regional and international markets, and increasing the non-oil sector's contribution
to the national GDP by 75 per cent.

Praising ECI's high credit rating, Bin Touq said, “ECI’s favourable rating from Fitch ratings
demonstrates the confidence of business communities in the national economy, and promotes its
reputation regionally and globally, thereby consolidating the country’s position as a leading hub for
business and trade. In keeping with the ‘We the UAE 2031’ initiative, which aims to increase the
country's GDP to AED 3 trillion by the next decade and increase non-oil exports to AED 800 billion,
the latest milestone highlights our national efforts to strengthen the company's crucial role in
creating a competitive environment for exporters and importers, while helping increase the
momentum of export and re-export activities of UAE-based companies.”

Many factors have contributed to ECI's latest milestone, including government support, especially
as the UAE's federal export credit agency, coupled with its capital strength and the absence of any
financial constraints. Other key determinants also included the company's robust reinsurance
programme, its unparalleled expertise in the field, and the capacity to insure the risks associated
with UAE foreign trade.

Raja Al Mazrouei, CEO of ECI, underlined that this rating is one of the highest rates offered by
specialised agencies, making it a new gauge of the company's financial performance and risk
tolerance strength. This success, she said, is the outcome of ECI’s strategic roadmap, which aims
to increase the volume of credit assistance provided to manufacturers and exporters. “The AA-
rating further helps ECI provide its services and solutions more effectively worldwide, boosts
national export competitiveness, and makes it easier for Emirati products to reach targeted global
markets,” Al Mazrouei added.

Since its inception, Etihad Credit Insurance has played a crucial role in supporting the national
economy and non-oil foreign trade. By enabling local trade and manufacturing activities,
empowering entities with tools to protect against trade and political risks, reducing the cost of trade
financing, facilitating project financing, and allowing access to trade financing solutions and
international markets, ECI continues to advance national economic goals with its broad portfolio of
comprehensive services.

https://www.wam.ae/en/article/bhy88df-etihad-credit-insurance-receives-aa--rating-with