Page 41 - MOE ENGLISH PR REPORT - JUNE 2024

Press Release

conferences, and training programs for professionals on both sides, thus promoting the economic,
environmental and social activities between the two countries. The agreement was signed by H.E.
Omar Suwaina Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology,
and Jiri Kratochvil, Director/President of the Czech Office for Standards, Metrology, and Testing.

Cooperation between the Federation of UAE Chambers and the Confederation of Industry
of the Czech Republic

Moreover, the Federation of UAE Chambers signed an MoU with the Confederation of Industry of
the Czech Republic to strengthen economic relations between the two countries in trade,
investments, technology, and industry areas. It improves the prospects for increasing trade
exchanges between them and expands economic and industrial cooperation between the companies
and organizations in both sides in line with their national regulations. The MoU was signed by H.E.
Abdulla Mohamed Al Mazrui, Chairman of the UAE Federation of the Chambers of Commerce
and Industry, and Frantisek Chalupecki, Vice President of the Confederation of Industries of the
Czech Republic.

Agreement between ECI and EGAP

The inaugural joint economic committee also saw the signing of an MoU between Etihad Credit
Insurance, UAE’s federal exports credit company, and the Export Guarantee and Insurance
Corporation (EGAP) of the Czech Republic to enhance the economic and trade cooperation
between both countries and support the growth of exports across their markets in the upcoming
stage. The agreement also provides a set of innovative export credit insurance solutions and
facilities provided by both sides to exporting companies. It was signed by H.E. Bin Touq, Minister
of Economy and Chairman of ECI Board of Directors, and H.E. David Havlicek, Chairman of the
Board of EGAP.

UAE-Czech Business Forum convenes

During the UAE delegation’s visit to the Czech Republic, the UAE-Czech Business Forum was
also held. During the forum, H.E. Bin Touq reviewed several economic initiatives launched by the
UAE within the framework of the ‘Projects of the 50’ and the ‘UAE Centennial 2071’ to foster
what it offers to the global economy, and the attractive investment incentives offered by the country
to investors and businesses from around the world. These include the comprehensive development
of the economic legislation system, including the granting of 100% foreign ownership of
companies, flexible tax policies, simplified procedures for establishing businesses and much more.

In this context, H.E. Bin Touq invited the forum’s participants to explore opportunities and
establish businesses in the UAE market and benefit from the enablers that the UAE economy offers,
in addition to its strategic location.

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