Page 227 - MOE ENGLISH PR REPORT - JUNE 2024

6/28/24, 4:48 PM UAE, Czech Republic ink agreement for bilateral reinsurance obligations, boost bilateral trade
“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 center by the next decade in light of the goals of the ‘We the UAE 2031’
vision,” commented bin Touq.
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Advancing trade and investment
Notably, the new agreement falls within the framework of the distinct economic partnership
between the UAE and the Czech Republic.
For his part, David Havlicek, stated: “We are confident that this agreement will contribute to
advancing trade and investment between the two countries in the coming period.” Thus, providing
export credit solutions to companies in the Czech Republic and UAE will boost their confidence and
security, encouraging them to expand the scope of their mutual business and investments.”
Raja Al Mazrouei, CEO of ECI, added: “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.”
Over the last few years, ECI has successfully formed around 21 cooperation agreements with
government export credit agencies across the world. This expands its network of collaborations
which is critical for its new 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.
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