Page 206 - MOE ENGLISH PR REPORT - JUNE 2024

6/28/24, 5:09 PM Latest News
for bilateral reinsurance obligations and provide insurance facilities to companies within the UAE and the
Czech Republic, contributing to the promotion of bilateral trade between the two countries during the next

phase. The agreement was signed by His Excellency Abdulla Bin Touq Al Marri, UAE Minister of Economy
and Chairman of ECI Board of Directors, and His Excellency David Havlicek, Chairman of the Board of

EGAP.

H.E. Bin Touq said, “The UAE enjoys growing and developing economic relations with the Czech Republic,
where the two countries have succeeded in their joint efforts to build sustainable and diversified partnerships

and agreements in many economic and investment sectors. The new partnership agreement with EGAP
complements these efforts as it comes within the framework of the distinct economic partnership between the
two countries. The agreement will promote the creation of new economic prospects between the two

exporters' communities in the two countries and contribute to the consolidation of common economic
relations, thereby supporting the establishment of the UAE as a global partner and attractive and influential

economic centre by the next decade in light of the goals of the ‘We the UAE 2031’vision.”

The agreement calls for robust cooperation across a broad spectrum of duties, such as addressing risks

related to sovereign and quasi-sovereign debtors, explore innovative avenues in improving flexibility for
private sector debtors, and offering insurance facilities for export agreements that are in accordance with the

official guidelines of the Organisation for Economic Co-operation and Development (OECD) Arrangement on
Officially Supported Export Credits. Furthermore, this agreement cultivates a strong foundation for bilateral

cooperation in areas of common interest, which is beneficial to both countries’ export and foreign trade
industries.

H.E. David Havlicek, stated, “We are confident that this agreement will contribute to advancing trade and
investment between the two countries in the coming period. Providing export credit solutions to Czech and

UAE companies will undoubtedly boost their confidence and security, encouraging them to expand the scope
of their mutual business and investments. We will work side by side with our partners in the UAE to

guarantee the success of this agreement and maximize its benefits.”

H.E. Raja Al Mazrouei, CEO of Etihad Credit Insurance, said, “This agreement aligns with ECI’s steadfast
commitment to broadening its global network of partnerships with strategic markets, offering innovative credit

solutions, streamlining export operations, reducing risks, and fostering confidence in exports, re-exports, and
foreign trade channels.”

The Agreement demonstrates Etihad Credit Insurance's steadfast dedication to enhancing cooperation with
export credit agencies. Over the past few years, Etihad Credit Insurance has successfully formed around 21

cooperation agreements with government export credit agencies across the globe. This move further helps to

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