UAE Ministry, Organisations Work Together to Boost ExportsSource: www.export-egypt.com 9/25/2019, Location: Middle East |
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The UAE Ministry of Economy, MOE, and the UAE Federal Export Credit company, Etihad Credit Insurance, ECI, announced their joint commitment towards supporting UAE exporters and investors.
This is being done to help expand the reach of the UAE’s exporters and investors globally and attract more Foreign Direct Investment into the country, to promote and stimulate non-oil trade in the state, especially concerning export activities. The MoE and the ECI will work together to support the top 100 exporters and the top 100 SMEs that export goods and services to international markets. Sultan bin Saeed Al Mansouri, Minister of Economy, Deputy Chairman of the Board of Directors at the ECI, said, "This collaborative effort will play a vital role in enhancing non-oil foreign trade and in creating a favourable business environment for exporters." Both federal organisations expressed their eagerness to work hand-in-hand to create a Non-Oil Foreign Trade development plan for the year 2019 and 2020-2023, and an Investment and internationalisation plan for the UAE’s exporting companies. Abdullah bin Ahmed Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, said that achieving the compatibility and integration of services and facilities provided to exporters and developing joint programmes in this regard with the ECI will enhance the capabilities of national exports and enable them to compete in international markets. Saed Alawadi, CEO of Dubai Export Development Corporation, Board Member and Chairman of the Executive Committee at the ECI, said, "The UAE's position as the world's 15th largest exporter and the growing non-oil trade reflects the government’s continuous efforts in supporting businesses in general, and exporters in particular. This partnership will further strengthen the UAE’s status as a diversified and resilient economy that also serves as an international business hub." The collaboration will allow the provision of market intelligence, facilitate financing and investment, as well as offer insurance solutions to UAE-based businesses to accelerate exports and provide tools to increase their global competitiveness. Massimo Falcioni, CEO of the ECI, said, "This partnership will be crucial to fulfil the ECI’s goals in line with the UAE Vision 2021 and offer a strong platform for manufacturers and traders during the imminent Expo 2020. The partnership will drive growth in various sectors, geographies and support the country’s plan to transition into a sustainable non-oil economy, mainly by promoting exports by UAE manufacturing companies." |
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