UAE and Italy’s export credit agencies review progress of joint initiatives

Etihad Credit Insurance (ECI), the UAE Federal export credit company, and SACE, the Italian export credit company (CDP Group), have discussed the progress of sustainable development projects, trade finance of SMEs and the Halal sector.The review meeting was held as a follow-up to the MOU signed between the two Export Credit Agencies (ECAs) in Rome in 2018, which laid down the framework to enhance business opportunities between the two countries.
During the meeting, the ECAs reviewed the development of their collaboration in co-insurance and re-insurance opportunities in strategic sectors, bolstering sustainable development projects, and jointly utilizing Islamic finance and sustainable finance in funding these projects.
This meeting was held in line with both countries’ national sustainability goals based on the United Nation’s Sustainable Development Goals (SDGs).
Massimo Falcioni, CEO of ECI, said, “Through ECI’s Shariah-compliant trade credit solutions, we’ve progressed significantly on the “Halal Route”, a global corridor initiated for Halal certified businesses from both countries to trade with confidence and get easy access to trade finance.”
The two ECAs have also discussed their joint support to Berne Union, the leading global association for the export credit and investment insurance industry, whose members include government-backed official ECAs, multilateral financial institutions, and private credit insurers across the globe, with a focus on the youth training and skills development.
Rodolfo Errore, President of SACE, said the recent meeting will “significantly boost the long-standing trade relations between the two countries”.
The meeting also explored how ECI and SACE help boost the flow of goods, services and investment capital worldwide by providing insurance and guarantees to protect exporters, investors and financial institutions against political and commercial risks.