Page 256 - 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
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.

EGAP is a specialised state-owned credit insurance company that focuses on the insurance of non-marketable commercial risks
associated with exports of goods and services from the Czech Republic.

The company's primary focus lies in providing bank loans with a maturity of more than two years in order to finance the export of

energy, machinery, technological systems, investment projects and transport constructions. (ANI/WAM)

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