UAE & Indonesia ink reinsurance agreement to boost bilateral trade

UAE & Indonesia ink reinsurance agreement to boost bilateral trade

UAE’s Federal export credit company, Etihad Credit Insurance (ECI), and its Indonesian counterpart PT Reasuransi Indonesia Utama (Indonesia Re) have signed a reciprocal reinsurance agreement in order to bolster their bilateral trade.

According to the statement, they also intend to expand their collaborative initiatives across the globe by fostering sustainable and inclusive economic development and corporation.

This pact follows the MoU signed between ECI and Indonesia Re, as part of a high-level delegation meeting of both countries’ ministers and government officials held in the UAE in November.

Massimo Falcioni

CEO – ECI “The reinsurance agreement between ECI and Indonesia Re is a natural progression of decade-long business relation between the two countries and the implementation of the recently signed MOU. This agreement is a perfect warm-up for the UAE’s presence at the imminent G20 summit, which reflects the importance of collective action and inclusive collaboration among major developed countries and emerging economies around the world, which is the core purpose of the G20 under Indonesia’s Presidency. The reinsurance agreement focuses, among others, on trade and project financing for micro, small, and medium-sized enterprises, including but not limited to the health sector, sustainable energy, and digital transformation.”

According to the statement, “It aims to build stronger