UAE: Etihad Credit Insurance records 21-fold growth in gross exposure in 5 years

UAE: Etihad Credit Insurance records 21-fold growth in gross exposure in 5 years

Published: Wed 22 May 2024, 6:38 PM

Etihad Credit Insurance (ECI), the UAE Federal export credit company, on Wednesday said it has a gross exposure of Dh9.6 billion by the end of 2023, which is a staggering 21-fold increase as compared to 2019.

“With an emphasis on emerging industries and SMEs, we will continue to broaden and diversify our economy according to the ‘We the UAE 2031’ vision, which aims to increase the country's non-oil exports to Dh800 billion and raise the volume of non-oil foreign trade to Dh4 trillion by the next decade,” said Abdulla Bin Touq Al Marri, minister of economy and chairman of ECI.

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“Etihad Credit Insurance has significantly contributed to advancing this national vision by fostering the expansion of domestic trade and enterprises and facilitating crucial economic relations through comprehensive economic partnership agreements (CEPAs). The company’s innovative credit solutions and strategic collaborations have enhanced the competitiveness of UAE businesses worldwide. This not only diversifies the UAE’s economic landscape but also propels its non-oil exports forward,” he said.

Raja Al Mazrouei, Chief Executive Officer of ECI, said: “We are committed to providing innovative credit solutions, facilitating easy access to