Page 235 - MOE ENGLISH PR REPORT - JUNE 2024

6/28/24, 4:49 PM UAE Aims To Boost Economic Relations With Czech Republic
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.

Havlicek said: "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 maximise its benefits."

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."

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.

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