Page 238 - MOE ENGLISH PR REPORT - JUNE 2024

flexibility for private sector debtors, and offering insurance facilities for export agreements that
comply with OECD guidelines on officially supported export credits.

Bilateral Benefits
This partnership cultivates a strong foundation for bilateral cooperation in areas of mutual interest.
It is expected to benefit both countries’ export and foreign trade industries significantly. David
Havlicek expressed confidence that this agreement would advance trade and investment between
the two countries.

Boosting Confidence

Havlicek stated, "Providing export credit solutions to Czech and UAE companies will undoubtedly
boost their confidence and security. This will encourage them to expand their mutual business and
investments. We will work closely with our partners in the UAE to ensure the success of this
agreement and maximise its benefits."

Commitment to Global Partnerships
Raja Al Mazrouei, CEO of Etihad Credit Insurance, said, "This agreement aligns with ECI’s
commitment to broadening its global network of partnerships with strategic markets. It offers
innovative credit solutions, streamlines export operations, reduces risks, and fosters confidence in
exports, re-exports, and foreign trade channels."

Expanding Collaborations

The agreement demonstrates Etihad Credit Insurance's dedication to enhancing cooperation with
export credit agencies. Over recent years, ECI has successfully formed around 21 cooperation
agreements with government export credit agencies worldwide. This move further broadens ECI’s
network of collaborations.

Xport Xponential Initiative

This partnership is a crucial component of ECI’s recently introduced strategic initiative ‘Xport
Xponential’. The initiative aims to support the growth of UAE exports, increase national economic
diversity, and promote sustainability.

EGAP's Focus Areas

EGAP is a state-owned credit insurance company specialising in insuring non-marketable
commercial risks associated with exports from the Czech Republic. The company primarily focuses
on providing bank loans with maturities exceeding two years to finance energy exports, machinery,
technological systems, investment projects, and transport constructions.

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