Page 204 - MOE ENGLISH PR REPORT - JUNE 2024

emphasized the alignment of this agreement with ECI’s broader mission to support the
UAE’s economic diversification and growth. He highlighted that this collaboration would
not only benefit exporters but also contribute to the overall economic stability and
prosperity of both nations.

The strategic partnership between ECI and EGAP is expected to significantly advance
trade and investment between the UAE and the Czech Republic. By boosting confidence
and security for businesses, the agreement will create a more favorable environment for
exporters and investors. This, in turn, will lead to increased economic activity and
stronger bilateral trade relations. The UAE Federal Export Credit Company, Etihad
Credit Insurance, plays a crucial role in this process by offering comprehensive
insurance and reinsurance solutions that mitigate risks and enhance business
confidence.

One of the most important aspects of this partnership is its potential to promote new
economic prospects. By providing a reliable framework for bilateral reinsurance
obligations, the agreement will enable businesses in both countries to explore new
markets and opportunities. This will lead to greater economic diversification and
resilience, which are key goals for both the UAE and the Czech Republic. The UAE
Federal Export Credit Company, Etihad Credit Insurance, is committed to supporting
this process by providing the necessary financial tools and expertise.

Furthermore, the agreement includes provisions to offer insurance facilities for export
agreements in accordance with international standards. This ensures that the support
provided is not only effective but also compliant with global best practices. By adhering
to the OECD Arrangement on Officially Supported Export Credits, the partnership
between ECI and EGAP sets a high standard for international cooperation in the field of
export credit insurance.

The strategic partnership between ECI and EGAP is a significant milestone in the efforts
to consolidate common economic relations between the UAE and the Czech Republic. It
represents a commitment to long-term cooperation and mutual support. The UAE
Federal Export Credit Company, Etihad Credit Insurance, through this partnership,
aims to create a sustainable and prosperous economic environment that benefits all
stakeholders.

The UAE Federal Export Credit Company, Etihad Credit Insurance, in partnering
with EGAP, demonstrates a powerful commitment to enhancing economic ties and
supporting exporters. This groundbreaking agreement is set to provide a robust
framework for bilateral reinsurance obligations and extensive insurance facilities, thereby
boosting trade and investment between the UAE and the Czech Republic. The strategic
initiatives undertaken by ECI, in collaboration with EGAP, highlight the importance of
international partnerships in driving economic growth and stability. As both nations look
towards a future of increased economic cooperation, this partnership stands as a
testament to the strength and potential of their bilateral relations.

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