Ajman Department of Economic Development (Ajman DED) has signed a cooperation agreement (MoU) with the Abu Dhabi Fund’s exports finance arm, Abu Dhabi Exports Office (ADEX) in order to offer solutions for national export companies for improving their business.
Further, the MoU will help the firms to geographically extend their scope of operations to international markets. The MoU aims to unite efforts to help Ajman’s local economy, improve the competitiveness of Ajman-based exporters, boost exports, and accelerate their contribution to the city’s Gross domestic product (GDP).
According to the agreement, Ajman DED will inform its customers about ADEX’s financing options and share data on export-related activities to help UAE exporters and boost the country’s exports.
“The agreement aims to strengthen cooperation between the two entities and consolidate efforts to support Ajman’s economy in line with the vision of the UAE leadership and the country’s economic diversification strategy. The agreement will establish foundations for sustainable development through expanding the range of goods and services for export and open new markets. In addition, it seeks to enable foreign importers and buyers to purchase the UAE’s goods and services and significantly drive up the contribution of exports. The synergy will also stimulate mechanisms to enhance the export environment in the emirate while ensuring additional value from exports to Ajman’s GDP. Furthermore, it will significantly accelerate foreign trade between the emirate and the world.”
HE Mohamed Saif Al Suwaidi, Director General of ADFD and Chairman of the Export Executive Committee of ADEX, has stated that the MoU with Ajman DED comes at a crucial time and will assist companies in the UAE in identifying new export markets for their goods and services, as well as increasing dividends from the integrated financial solutions on offer, thus widening export growth horizons. Furthermore, he remarked that ADEX aims to increase the UAE’s attractiveness and credibility as a trustworthy foreign business partner through its financing solutions.
According to the statement, the two parties will organize introductory workshops, educational seminars, and other training programs to familiarize the licensed economic enterprises in Ajman with the services of ADEX. They will also support ADEX’s solutions and services for national businesses.