Dubai, UAE— Etihad Credit Insurance (ECI) has reviewed its programs and initiatives in a meeting chaired by Abdulla bin Touq Al Marri, UAE Minister of Economy and Chairman of the Board of Directors of ECI.
The meeting reviewed a series of ECI’s comprehensive programs and initiatives, which are aligned with the national agenda of bolstering the UAE’s non-oil foreign trade and increasing national exports by 50 per cent over the next few years, as part of the ‘Projects of the 50’.
During the meeting, Abdulla bin Touq Al Marri commended ECI’s commitment to protecting foreign investments of local businesses and its efforts to enhance UAE exports, ensuring their access to new international markets, which cements the unique position of UAE in the international trade map.
Al Marri said the UAE has achieved significant milestones at the regional and global levels, establishing its position as a leading hub of trade and investment in the region. “We continue our efforts to expand and diversify our economy by improving the competitiveness of the business environment with a special focus on emerging industries and SMEs and enabling them to launch from the UAE and prepare them to expand and compete in the global markets.”
Etihad Credit Insurance, he said, plays a major role in supporting the growth of domestic trade and businesses, as well as meeting the requirements of sustainable economic development.
The minister was also briefed on ECI’s exceptional performance in the first nine months of 2022. As of September 2022, ECI facilitated more than $1.71 billion in value, equivalent to $4.52 billion non-oil trade total guaranteed exposure to businesses located in the UAE that have exported to 111 countries.
With the complete support and guidance of the government, ECI has by far issued 7,936 revolving credit guarantees. These state-backed guarantees helped to protect and create 50,000 jobs by supporting companies, 72 per cent of which were SMEs.
