Page 250 - MOE ENGLISH PR REPORT - JUNE 2024

6/28/24, 4:54 PM UAE enjoys growing and developing economic relations with Czech Republic: Minister of Economy

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."

The Agreement demonstrates Etihad Credit Insurance's steadfast dedication to enhancing
cooperation with export credit agencies. 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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