Page 203 - MOE ENGLISH PR REPORT - JUNE 2024

Powerful UAE Federal Export Credit Company,

Etihad Credit Insurance, Partners with EGAP

for Strategic Growth

By:Tonmoy Sayed
Date:
June 25, 2024
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UAE Federal Export Credit Company, Etihad

Credit Insurance: Groundbreaking Agreement

to Boost Bilateral Trade and Investment

The UAE Federal Export Credit Company, Etihad Credit Insurance (ECI), has forged
a powerful partnership with the Export Guarantee and Insurance Corporation (EGAP) of
the Czech Republic. This groundbreaking collaboration is poised to create a
comprehensive framework for bilateral reinsurance obligations and to provide extensive
insurance facilities to businesses operating within the UAE and the Czech Republic. This
strategic move is expected to enhance economic relations and unlock new opportunities
for exporters in both countries.

The agreement, hailed as a landmark in international economic cooperation, was
formalized with the signatures of Abdullah bin Touq Al Marri, Minister of Economy and
Chairman of the ECI Board of Directors, and David Havlicek, Chairman of EGAP’s
Board. This significant event underscores the commitment of both nations to fostering
robust economic ties and supporting their export sectors. The UAE Federal Export
Credit Company, Etihad Credit Insurance, through this agreement, aims to fortify the
economic bridge between the UAE and the Czech Republic.

A key objective of this strategic partnership is to address risks associated with sovereign
and quasi-sovereign debtors. By doing so, the agreement aims to provide a safer
environment for exporters and investors, reducing uncertainties and fostering
confidence. Moreover, the partnership is designed to improve flexibility for private sector
debtors, thereby broadening the scope of support available to businesses. This
comprehensive approach is in line with the guidelines set by the OECD Arrangement on
Officially Supported Export Credits, ensuring that the insurance facilities offered are
robust and reliable.

The UAE Federal Export Credit Company, Etihad Credit Insurance, has always been
at the forefront of providing innovative and effective solutions to support UAE exporters.
This new partnership with EGAP is a testament to ECI’s ongoing efforts to expand its
global network and enhance its strategic initiatives. ECI CEO, Raja Al Mazrouei,

https://thegulfentrepreneur.com/uae-federal-export-credit-company-partners/