Page 237 - MOE ENGLISH PR REPORT - JUNE 2024

UAE And Czech Republic Forge Stronger Economic

Relations Through Strategic Partnership

By OneArabia

Etihad Credit Insurance (ECI), the UAE Federal export credit company, has entered into a strategic
partnership with the Export Guarantee and Insurance Corporation (EGAP). This agreement aims to
establish a framework for bilateral reinsurance obligations and provide insurance facilities to
companies in the UAE and the Czech Republic. The initiative is expected to promote bilateral trade
between the two nations in the coming years.
The agreement was signed by Abdullah bin Touq Al Marri, Minister of Economy and Chairman of ECI
Board of Directors, and David Havlicek, Chairman of the Board of EGAP. Bin Touq highlighted the
growing economic relations between the UAE and the Czech Republic, noting that this new
partnership complements existing efforts to build sustainable and diversified economic ties.

Bin Touq stated, "The agreement will promote the creation of new economic prospects between the
two exporters' communities in both countries. It will also contribute to consolidating common
economic relations, thereby supporting the establishment of the UAE as a global partner and
influential economic centre by the next decade, in line with the ‘We the UAE 2031’ vision."

Scope of Cooperation
The agreement outlines robust cooperation across various duties. These include addressing risks
related to sovereign and quasi-sovereign debtors, exploring innovative avenues for improving

https://www.onearabia.me/local/uae-czech-republic-economic-relations-boost-011-46631.html