Day: September 27, 2022

ABU DHABI, The UAE national carriers have increased their flights to the Sultanate of Oman over the past years in a move aimed at keeping pace with customer demand and the steady growth of air traffic between the two countries based on the deep historical relations and solid economic and cultural ties between the two nations.

 

In a statement to the Emirates News Agency (WAM), the General Civil Aviation Authority (GCAA) said that the six national carriers Etihad Airways, Emirates Airlines, Air Arabia, Fly Dubai, Wizz Air Abu Dhabi, and Air Arabia Abu Dhabi are operating around 79 flights per week from the UAE to Oman.

 

The Authority stated that Etihad Airways operates about 10 flights per week to Muscat via Airbus “A320” and “A321”, while Emirates Airlines operates about seven weekly flights to Muscat.

 

It added that Air Arabia Abu Dhabi operates about nine flights per week to Oman, with five flights per week to Muscat and four flights per week to Salalah, while Wizz Air Abu Dhabi operates eight flights per week, including five flights to Muscat and three to Salalah.

 

According to the GCAA, Air Arabia operates about 24 flights per week to Oman, with 14 flights to Muscat and 10 to Salalah. Meanwhile, Fly Dubai operates about 21 flights per week to the Sultanate of Oman.

 

Source: Emirates News Agency

Dubai, Dubai Chamber of Commerce recently hosted a meeting at its headquarters that was joined by members of the Hatta Traders Council where representatives from both sides discussed new projects, plans and initiatives to support Hatta’s entrepreneurial ecosystem and drive the area’s economic growth and development.

 

Participants discussed explored new ways to collaborate and align efforts to achieve the objectives of the Hatta Master Development Plan, which is based on the Dubai Urban Plan 2040 launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai and provide support to Emirati entrepreneurs in the area.

 

His Excellency Abdul Aziz Al Ghurair, Chairman of Dubai Chambers, noted that Dubai Chambers is fully committed to implementing the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which aims to drive Dubai’s  sustainable economic growth and development economic drive and achieve sustainability. He stressed described the comprehensive plan for the development of Hatta, which is included within he Dubai Urban Plan 2040, as “an important step in accelerating the pace of growth in the region and enhancing the competitiveness of its business environment.”

 

He said that the Chamber is coordinating with the Hatta Traders Council to transform the development model in Hatta into a comprehensive economic development plan. He revealed there would soon be a number of renewable projects to be launched in Hatta, and added that Dubai Chambers would offer its valuable expertise and resources to support the implementation process.

 

Mana Ahmed Al Kaabi, Chairman of the Hatta Traders Council, said: “We are working closely with Dubai Chamber of Commerce as we develop plans and strategies for the next phase which contributes to achieving the ambitions of the Emirate as well as enhancing the process of transforming Hatta into a new center for pioneering development projects”.

 

Al Kaabi added that empowering young Emirati entrepreneurs, enhancing their competitiveness and their ability to excel and succeed, investing in their capabilities for the benefit of the development process are other top priorities of the Council.

 

Operating under the umbrella of Dubai Chamber of Commerce, the Hatta Traders Council, was recently established by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, and Chairman of the Executive Council Dubai. The Hatta Traders Council will play a major role in developing trade, investment and tourism in Hatta, as well as transforming it into a leading destination that attracts projects and drivees sustainable development and growth.

 

Source: Dubai Chamber of Commerce & Industry

DUBAI, Etihad Credit Insurance (ECI) has established its new representative office in Sharjah to boost the country’s economic diversification programmes and support its export, re-export, and foreign investment to increase the non-oil trade contribution to the national GDP.

 

The launching of the new representative office is aimed at expanding ECI’s reach in the northern emirate with the support of its government partners, thereby enabling ECI’s business development team to easily reach out to exporters based in Sharjah who are seeking convenient and cost-effective export finance and insurance solutions to expand their business globally.

 

ECI took this initiative in response to the increasing demand and awareness of trade credit insurance and export finance solutions from UAE exporters, thus broadening its presence in the emirate of Sharjah by adding a new office to its extensive network, which already has active offices in Abu Dhabi and Dubai.

 

The opening of the office in September 2022 follows the three Memoranda of Understanding (MoUs) ECI recently signed with the Sharjah Chamber of Commerce and Industry (SCCI), the Hamriyah Free Zone Authority (HFZA), and Sharjah Airport International Free Zone (SAIF Zone).

 

The office space is provided by the SCCI. The company is also in the discussion phase with the local government authorities in other northern emirates to open similar representative offices in Ajman, Ras Al Khaimah and Fujairah.

 

In the first five months of this year, ECI made a significant impact on the trade and business communities in the northern emirates by achieving exceptional growth in secured non-oil trade, namely Sharjah (AED1.5 billion), Ras Al Khaimah (AED504 million), Fujairah (AED102 million), Ajman (AED282 million), and Umm Al Quwain (AED159 million).

 

Massimo Falcioni, CEO of Etihad Credit Insurance, commented, “The launching of ECI’s new representative office in Sharjah is part of our expansion strategy in line with the UAE’s objective to enhance the competitiveness of the UAE’s non-oil trade and export. It will be instrumental in facilitating wider access for the companies based in the northern emirate to bank loans through our wide array of trade credit and export financing solution that will help them do more overseas business and thus strengthen the UAE’s non-oil export and economic growth.”

 

Meanwhile, Abdallah Sultan Al Owais, SCCI Chairman, said, “The strong presence of the UAE Federal export credit company, Etihad Credit Insurance in Sharjah will give an added advantage to the companies and traders venturing into flourishing growth markets around the world. We are confident that ECI’s solutions provide a massive incentive and inspiration for UAE businesses to benefit from a free market environment, which not only strengthens Sharjah’s historic position as a destination for global trade in the Middle East but helps the UAE remain a regional and global leader in the export market despite the severe disruptions in the current economic cycle.”

 

Abdalla AlHosani, Director of Commercial and Distribution at Etihad Credit Insurance, said, “Associating with UAE government organisations, Etihad Credit Insurance aims to establish a new business environment where domestic exporters and SMEs can benefit from our bespoke trade credit insurance solutions. The new representative office in Sharjah Chamber of Commerce is an important step to maximise such collaborations in order to expand our existing network for the benefit of northern emirates’ wider commercial community engaging in cross-border trade.”

 

Majed Julfar, Director of Trade Credit Insurance and Export Financing at Etihad Credit Insurance, said, “Over the years, we’ve supported hundreds of domestic businesses by guaranteeing their receivables while trading in the international markets. The new representative office is part of our strategic move to boost UAE’s international trade, strengthen the digital economy, protect the interests of SMEs and entrepreneurs, and support the country’s ambition to establish the world’s best economic ecosystem.”

 

The opening of ECI’s new branch happens in a remarkable period of the UAE’s non-oil foreign trade as it has recorded, for the first time in its history, AED1.053 trillion of non-oil trade in the first half of 2022. Etihad Credit Insurance has played a crucial role in this outstanding performance by strengthening the nation’s non-oil foreign trade and economic diversification strategy as per its mandate.

 

Source: Emirates News Agency