Page 247 - MOE ENGLISH PR REPORT - JUNE 2024

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

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