UAE, UK join hands to boost trade ties, export credit opportunities

UAE, UK join hands to boost trade ties, export credit opportunities

DUBAI - Etihad Credit Insurance, ECI, the UK Export Finance, UKEF, have announced the signing of a reinsurance agreement to enhance the competitiveness, scale and scope of both countries' export industry through strategic partnership and cooperation.The agreement, which was signed by Massimo Falcioni, CEO of ECI, and Louis Taylor, CEO of UKEF, aims to provide a robust turnkey platform, which the two parties can utilise to draw new business opportunities and identify areas for future collaboration to foster a greater trade alliance between the UAE and the UK.ECI and UKEF entered into this agreement to work towards pursuing strategic collaboration in areas such as exploration of mutual opportunities for insurance, reinsurance, co-insurance services for export of goods in a third country; investments and services to assist and support insured exporters; facilitation of access for SMEs; mutual exchange of good practices; organisation of joint events; and identification of specific solutions in the export insurance field, amongst others.The export communities in both countries stand to gain from this partnership, as it aims to provide ease of access to a range of export credit, as well as financing and investment insurance products.Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade