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DUBAI / WAM
In a landmark agreement, the export credit agencies of UAE and Israel have signed a cooperation agreement to develop economic relations between the two countries, broadening the export financing possibilities for their exporters.
Etihad Credit Insurance (ECI), the UAE Federal export credit company, and The Israel Foreign Trade Risks Insurance Corporation (ASHR’A) have agreed to jointly create a strategic cooperation in supporting exports, trade and investment; explore new business opportunities; and forge collaborations in technical assistance, training, and capacity building in both countries.
The agreement will ease access to export credit facilities and non-payments risk mitigation, as well as access to both market key sectors like agriculture, water treatment, renewable energy, medical and health care, aluminium, steel, cables, petrochemicals, technology.
Under this MoU, ECI and ASHR’A will work towards fortifying their collaboration, particularly in the enhancement of trade and business relations; exploration of mutual opportunities for insurance, co-insurance services for export of goods, investments and services to assist and support insured exporters; facilitation of access for SMEs. Also, mutual exchange of good practises in risk management and underwriting, country risk assessment, organisation of joint events, among others.