Abu Dhabi Fund for Development’s (ADFD) exports finance arm Abu Dhabi Exports Office (ADEX) has discussed ways to strengthen the collaboration on export financing with the representatives of the Export-Import Bank of Korea (KEXIM).
The meeting was led by Mr. Khalil Al Mansoori, Acting Director-General of ADEX, and Mr. Cholkyu Lee, Chief Representative of KEXIM’s Dubai office. Senior officials from both sides were present at the meeting.
According to the statement, the discussions focused on co-financing solutions for Korean organizations seeking to import goods and services from the UAE, in addition to projects that are to be executed by Korean EPC contractors.
Established in 2019, ADEX provides financing solutions and guarantees to UAE exporters and import companies dealing with the UAE.
Mr. Al Mansoori said that the meeting highlighted the opportunity for Export Credit Agencies (ECAs) to drive exports worldwide.
“Our meeting was a testament to the commitment of the two institutions to enable the export industry of our countries to achieve their aspirations and objectives. We are confident that our discussions will significantly positively impact the export dynamics and relations between the UAE and South Korea. However, the larger objective of our endeavor is to boost our respective economies,” the Acting Director-General added.
KEXIM
KEXIM is South Korea’s official export credit agency, providing financial support for export and import transactions, overseas investments, and the development of natural resources. It aims to facilitate the growth of South Korea’s economy and enhance its economic cooperation with other countries.
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