Page 209 - MOE ENGLISH PR REPORT - JUNE 2024

6/28/24, 5:09 PM Etihad Credit Insurance partners with EGAP to streamline process of mutual reinsurance obligations and foster bilateral trade betw…
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 broaden the ECI’s network of
collaborations, which is a crucial component of the recently introduced strategic initiative ‘Xport Xponential.’ This
initiative aims to support the growth of UAE exports and increase the diversity of the national economy while also

promoting its sustainability.

EGAP is a specialised state-owned credit insurance company that focuses on the insurance of non-marketable
commercial risks associated with exports of goods and services from the Czech Republic. The company’s primary focus

lies in providing bank loans with a maturity of more than two years in order to finance the export of energy, machinery,
technological systems, investment projects and transport constructions.

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