UAE Business: Deals inked to boost trade, investments between UAE and Africa – Gulf Digital News

UAE Business: Deals inked to boost trade, investments between UAE and Africa – Gulf Digital News

Etihad Credit Insurance (ECI), the UAE Federal export credit company, and African Trade Insurance Agency (ATI) signed a reciprocal reinsurance agreement to strengthen trade ties and boost exports between the two markets. This is done by providing trade credit insurance and trade finance solutions to businesses.

The deal follows the Memorandum of Understanding (MoU) each entity signed in March last year to enhance the global competitiveness of exporters by improving their awareness of export credit and trade finance solutions and encouraging them to use risk-mitigating tools against commercial and political risks.

Under the agreement, signed by Massimo Falcioni, CEO of Etihad Credit Insurance and Manuel Moses, CEO of ATI, both organisations aim to support joint Emirati and African ventures in their own countries as well as their collaborative initiatives in other countries by sharing risks enabling these companies to grow trade globally.

State-backed guarantees

Emphasising the significance of this strategic alliance, Falcioni said: "UAE and Africa continent enjoy illustrious historic bilateral trade relations, and we at ECI are proud to reinforce that tradition with the support of ATI. This collaboration will provide UAE exporters real confidence to access the African region's diverse markets and resources with state-backed guarantees and safeguards against commercial and political