Abu Dhabi Fund for Development’s (ADFD) exports finance arm Abu Dhabi Exports Office (ADEX) has signed a Memorandum of Understanding (MoU) with Ras Al Khaimah Chamber of Commerce and Industry (RAKCCI) in order to help Emirati exporters and build a diverse and sustainable national economy.
According to the statement, the MoU is part of ADEX’s commitment to support national initiatives aimed at improving the country’s competitiveness in accordance with the economic diversification policy. The pact also intends to broaden the country’s export portfolio and provide local exporters with new chances in global markets.
As part of the MoU, the two parties committed to work together to improve the worldwide competitiveness of UAE exports, whether commodities or services. Further, it offers assistance to national businesses to ensure their long-term success as they expand into new regional and international markets.
The two parties will collaborate closely to promote Emirati exporters and find new markets for their exports, including providing credit facilities to importers and foreign buyers purchasing the locally made goods and services and thereby boost the country’s export volume, as per the reports.
Mohammed Saif Al Suwaidi Chairman – Executive Committee ADEX
“Our MoU with RAK Chamber is a major step towards strengthening our cooperation with all stakeholders. Together, we will support national endeavors and provide effective solutions to enhance the competitiveness of UAE exports and increase the contributions of our local exporters to the country’s sustainable economic development. Our collaboration reflects our firm commitment to establish strategic and mutually beneficial partnerships with relevant institutions. We will work towards further develop the country’s presence on the global commercial and trade map according to its vision for the next 50 years, which will represent a new era of progress and growth for the nation.”
Mr. Saeed Hamad Al Dhaheri, Acting Director-General of ADEX commented, “This forms part of our efforts to utilize our resources to expedite the growth of the export sector according to our government’s initiatives to diversify the economy. Through these initiatives, ADEX is well-positioned as an organization to help increase the volume of national exports and find new markets for them.”
“ADEX will help stimulate new activities in key sectors which can bring about positive impact to our national economy. This new agreement is a significant development in our strategic partnerships which will enable the business sector to implement programs and plans that are relevant to the UAE’s comprehensive economic program,” noted Mr. Mohamed Hassan Al Sabab, Acting Director of RAK Chamber.
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