Page 184 - MOE ENGLISH PR REPORT - JANUARY 2025

2/3/25, 2:58 PM Etihad Credit Insurance Receives AA- Rating With Stable Outlook From Fitch Ratings - UrduPoint
Abdullah bin Touq Al Marri, Minister of Economy and Chairman of the board of

Directors of Etihad Credit Insurance, affirmed that the UAE, driven by the guidance

of its wise leadership, has grown 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

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