Page 213 - MOE ENGLISH PR REPORT - JUNE 2024

6/28/24, 4:45 PM Etihad Credit Insurance partners with EGAP to streamline process of mutual reinsurance obligations
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 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.

https://www.zawya.com/en/press-release/companies-news/etihad-credit-insurance-partners-with-egap-to-streamline-process-of-mutual-reinsurance-ob… 2/3