Page 222 - MOE ENGLISH PR REPORT - JUNE 2024

The agreement was signed by His Excellency Abdullah 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.

Commenting on the agreement, 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."

He added: "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.

Export Credit Solutions

For his part, 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

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