One of the world’s leading free trade zones, DP World owned Jebel Ali Free Zone (Jafza) will collaborate with the UAE’s export credit agency, Etihad Export Credit Insurance Company (ECI) to empower regional businesses and promote exports.
Through the Memorandum of Understanding (MoU) which was virtually signed by Massimo Falcioni, CEO of ECI and Mohammed Al Muallem, CEO & Managing Director, DP World, UAE Region, ECI will offer export insurance services to Jafza licensed companies.
The association is the culmination of the shared interests Jafza and ECI to solidify the UAE economy globally and strengthen the UAE’s position as the preferred global hub for exports. The agreement will further enable expansion and diversification of the UAE economy, as well as ease financial pressure.
Both firms will organize workshops and seminars to inform members about the benefits of trade protection solutions, with a focus on surety bonding, trade credit insurance and trade finance solutions provided by Etihad Credit Insurance.
The duo will also assist and sustain members exploring export to foreign countries and sectors along with sharing broader country risk reports in international trade activities.
“Our agreement with ECI is significant as it will help boost the export of UAE goods, works, services and the foreign investments of UAE companies. This move will increase cash flow, enable world trade and contribute towards long-term growth.”
Massimo Falcioni, CEO of ECI, said, “We are honored to be able to assist local businesses via this strategic agreement. We are confident that our innovative products will enhance trade and ensure that the UAE remains a leader in the export market despite the current challenging global conditions. ECI remains keen to boost diversification and ensure that the UAE economy thrives in a post-oil era, and our tailored solutions offer protection from risks and business continuity during such unprecedented times.”