The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / WAM
Etihad Credit Insurance (ECI), the federal export credit agency of the UAE, has joined forces with the Abu Dhabi Export Office (Adex), in a move to strengthen the UAE’s position in international trade and innovation.
This partnership is marked by the signing of an insurance policy, which aims to support an initiative to implement a digital transformation project in Angola, thus reinforcing the UAE’s commitment to supporting the country’s technological advancement while fostering global business growth.
The collaboration, which is in line with the shared objectives of both parties, aims to secure funding projects awarded to UAE-based companies. One such example is ‘Presight’ which successfully secured crucial funding from Adex backed by ECI Insurance for the implementation of a project, which promises to boost the technology sector in Angola.
Additionally, this strategic initiative, which holds the potential for substantial returns, amplifies the UAE’s in-country value.
The policy was formally signed by Raja Al Mazrouei, CEO of ECI and Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD) and Chairman of the Exports Executive Committee of Adex. This policy is set to provide substantial support for the platform’s implementation and its associated infrastructure.
It also reaffirms ECI’s commitment to enhancing the UAE’s GDP through the export of specialised services, thus contributing significantly to the domestic economy.
Raja Al Mazrouei said, “The UAE continues to pave its path as a global pioneer, and this collaboration with UAE industry champions reinforces our combined vision for the future and to empower UAE-based companies for global prominence. This venture is a testament to the unwavering global trust in the UAE’s dynamic economy and the pivotal role ECI plays within.”
Mohamed Saif Al Suwaidi said, “The signing of this policy highlights Adex’s unwavering commitment to drive the technological progress of Angola while bolstering our national companies. This collaboration not only enables companies like ‘Presight’ to expand beyond the UAE’s borders, but it also fuels our mission to enhance the national economy and solidify the Emirates’ position as a global business hub.”
“Showcasing its expanding business engagement in Africa, ECI has recently formalised three MoUs with top-tier banks and insurance companies in Ethiopia.”
“These collaborations are strategically designed to unlock a multitude of trade and investment possibilities, driving the adoption of inventive insurance solutions, and positioning UAE enterprises at the forefront of global market growth. These partnerships underscore ECI’s focus on nurturing economic alliances, enriching trade, and catalysing sustainable business expansion across Africa.”