UAE’s federal export credit agency, Etihad Credit Insurance (ECI) has collaborated with the UAE International Investors Council (UAEIIC) to support Emirati investments abroad and secure UAE export businesses worldwide.
The objectives of ECI and the UAEIIC is to accelerate national economic diversification and preserve the competitiveness of UAE businesses. The partnership will help open up new markets for investors in the UAE and will promote their ability to obtain promising opportunities and new ventures.
Massimo Falcioni, CEO of ECI said, “We are honored to partner with UAEIIC in this agreement that aims to further strengthen the competitive advantage of UAE investments, businesses, and exports in the international market. This partnership is in line with ECI and UAEIIC’s mandate to support the growth of the national economy based on diversification and will achieve our long-standing mission of positioning the UAE as the global hub for trade and investment.”
“This alliance with ECI marks a significant step in our efforts to support and adopt initiatives that protect the interests of Emirati investors abroad, as we believe it is crucial to unite efforts among various organizations in the country. We aim to support and adopt various initiatives that will create diversified tools and mechanisms to give Emirati investors a competitive edge in the international markets. Supporting Emirati investors abroad is one of UAEIIC’s core values. Our main goal is to protect Emirati investments abroad, by enhancing the global presence of companies, and evaluating their opportunities for expansion in regional and global markets.”
“We are pleased to collaborate with ECI, and we are confident that this partnership will open new markets for UAE businesses and facilitate their ability in getting promising opportunities and acquiring new projects, thereby contributing to the diversification of the economic base,” added Mr. Al Jarwan.
According to the agreement, the two organizations will form a committee to introduce initiatives aimed at improving exports from the UAE. Both ECI and UAEIIC will together finalize the number of members, the structure of the committee and the means of funding, as well as the schedule of meetings, the working framework, and the decision-making process.
As part of the deal, UAEIIC’s partners will be funded by the Federal Export Credit Company through its trade credit facilities, which can significantly increase their exports globally. Besides, the two organizations will collaborate with financial institutions on projects requiring additional investment, organized trade finance, project financing, and supply chain financing.