Page 241 - MOE ENGLISH PR REPORT - JUNE 2024

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 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.

"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.

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 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.”

https://www.msn.com/en-ae/news/other/uae-enjoys-growing-and-developing-economic-
relations-with-czech-republic-minister-of-economy/ar-BB1oMHVZ