Page 253 - 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 - www.lokmattimes.com
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."

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