DUBAI, Etihad Credit Insurance, ECI, the UAE Federal Export Credit Company, has signed a Memorandum of Understanding, MoU, with the Khalifa Industrial Zone Abu Dhabi, KIZAD, the integrated trade, logistics, industrial and free zone owned by Abu Dhabi Ports, to support UAE businesses and increase exports by providing export insurance solutions that meet their growth plans.
The agreement will help UAE-based companies to capitalise on potential market opportunities by offering them ECI's comprehensive range of financial solutions and insightful country risk reports and the KIZAD's world-class infrastructure and customised business solutions that will facilitate trade, logistics, and industrial investments locally and internationally.
The MoU was signed by Massimo Falcioni, CEO of ECI, and Samir Chaturvedi, CEO of KIZAD, in the presence of senior officials from both organisations.
Under this MoU, ECI and the KIZAD will collaborate on defined areas of cooperation that include the joint organisation of workshops, forums; involvement in relevant events or activities; exchange of in-depth market intelligence and country risk reports; facilitation of referral channels for ECI; and the provision of a permanent facility desk for ECI within the headquarters of KIZAD for the continuous sharing of information, support, and services to valued members.
Falcioni said, "The partnership between ECI and the KIZAD will play an important role for UAE-based investors and exporters, as it will help them focus on their expansion plans in a streamlined and efficient manner that will not only further their interests but also help in contributing to the country's progression."
Captain Mohamed Juma Al Shamisi, Group CEO of Abu Dhabi Ports, said, "This MoU will help businesses operating at Abu Dhabi Ports and the KIZAD to export and re-export goods with ease and provide more financing options for international companies looking to invest in the UAE. It aligns with the Abu Dhabi government's initiatives to diversify the economy and increase the contribution of the private sector to the emirate's GDP from 32 percent currently to 37 percent by 2021."
Chaturvedi said, "This partnership will enable all of our tenants to benefit from greater access to the services that Etihad Credit Insurance provides, from export credit and trade credit insurance, to export financing and surety bonds. This MoU will allow exporters, re-exporters and investors alike to expand their businesses in the UAE."
Source: Emirates News Agency