UAE Business: Etihad Credit Insurance partners with Rakez to boost trade – Gulf Digital News

UAE Business: Etihad Credit Insurance partners with Rakez to boost trade – Gulf Digital News

Etihad Credit Insurance (ECI), the UAE Federal export credit company, has tied up with Ras Al Khaimah Economic Zone (Rakez) to support the emirate’s path towards economic diversification by stimulating its non-oil foreign trade.

The Memorandum of Understanding (MoU) came as part of ECI’s continuing effort to support Ras Al Khaimah's strategy to boost its burgeoning export activities. As of November 2022, ECI has facilitated AED261 million ($71 million) worth of secured non-oil trade for businesses operating in the emirate.

The agreement was signed by Ramy Jallad, Group CEO of Ras Al Khaimah Economic Zone, and Massimo Falcioni, CEO of Etihad Credit Insurance.

Diversification

Jallad stated: “In line with the UAE’s economic diversification strategy, this partnership will ramp up our efforts to position Ras Al Khaimah a leading global investment destination and make export activities an engine of its economy. This move to support the businesses operating in Rakez will likewise advance the emirate’s industrial strategy and improve the brand value of UAE-made products across the globe.”

Falcioni said: “This partnership attests to ECI’s strong commitment to protecting businesses in Ras Al Khaimah with focus to Small and Medium Size Companies. This will open up excellent opportunities to promote the culture of entrepreneurship in the