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ABU DHABI/ WAM
Mohammed Saif Al Suwaidi, Director-General of the Abu Dhabi Fund for Development (ADFD) and Chairman of the Exports Executive Committee of the Abu Dhabi Exports Office (ADEX), said the UAE has an advanced infrastructure that has strengthened its stature as an international centre for trade and helped attract foreign investments in various sectors.
In his statements to the Emirates News Agency (WAM), Al Suwaidi said that for the next phase, ADEX intends to finance Emirati manufacturers to increase access to foreign markets for their products, which will help enhance their stature and presence in international markets, especially those where local sources are not present.
ADEX’s funding has totalled AED2.5 billion, aiming to raise this to some AED3 billion by the end of 2023.
“Based on our keenness to expand the scope of our strategic partnerships, ADEX signed 14 agreements and Memoranda of Understanding (MoUs) with local, regional, and international institutions, which helped develop and supported national exports and consolidated the country’s stature on global trade map,” Al Suwaidi said.
ADEX has helped increase the competitiveness of national exports by offering credit to enable national companies to expand their commercial activities and reach international markets, in addition to providing financing and guarantees for external importers to buy goods and services from Emirati exporters under appropriate conditions and competitive advantages, he pointed out.
Since its establishment, ADEX has supported the national economy and enhanced its competitiveness, aligning with the UAE’s directives to achieve economic diversification, making it a key pillar for sustainable development, he said in conclusion.