Page 257 - MOE ENGLISH PR REPORT - JUNE 2024

UAE enjoys growing and developing economic

relations with Czech Republic: Minister of Economy

WAM
24 Jun 2024, 20:09 GMT+10

DUBAI, 24th June, 2024 (WAM) -- Etihad Credit Insurance (ECI), the UAE Federal export
credit company, inked a strategic partnership agreement with the Export Guarantee and
Insurance Corporation (EGAP) to create a framework for bilateral reinsurance obligations and

provide insurance facilities to companies within the UAE and the Czech Republic, contributing
to the promotion of bilateral trade between the two countries during the next phase.

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.

https://www.irishsun.com/news/274431282/uae-enjoys-growing-and-developing-economic-
relations-with-czech-republic-minister-of-economy