Page 260 - MOE ENGLISH PR REPORT - JUNE 2024

6/28/24, 4:56 PM UAE enjoys growing and developing economic relations with Czech Republic: Minister of Economy
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

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