UAE, Africa to boost trade relations through export credit alliance

UAE, Africa to boost trade relations through export credit alliance

DUBAI — Etihad Credit Insurance (ECI) and African Trade Insurance Agency (ATI) have agreed to strengthen the trade relations between the United Arab Emirates and Africa by providing trade finance solutions to businesses and exporters in both areas.

To that end, both sides signed a Memorandum of Understanding to boost the global competitiveness of exporters by increasing their awareness of trade solutions and mitigating tools against commercial and political risks.

The MoU was signed by Massimo Falcioni, CEO of ECI and Manuel Moses, CEO of ATI. The MoU will allow the two institutions to collaborate on increasing their respective insurance and financing capacities.

Exporters in various sectors including metals, vehicles, steel and aluminum, agriculture, transport, renewable energy, mechanical, chemicals, and waste management industries also stand to benefit from this partnership through workshops, forums, B2B meetings, and events that ECI and ATI will jointly organize.

Underscoring the importance of the strategic alliance, Falcioni said, "As we celebrate the rich and illustrious trade relations of the UAE and the African region over the years, we at ECI are