DUBAI: Etihad Credit Insurance, ECI, the UAE Federal Credit Insurance Company has signed a Memorandum of Understanding, MoU, with the Jordan Loan Guarantee Corporation, JLGC, to explore, develop and strengthen the trade relationship between the UAE and Jordan.
This partnership will enable enhance trade and business activities through the exchange of information and exploring business practices and conducting training programmes in areas of shared interest.
The MoU was signed by Massimo Falcioni, CEO of ECI and Dr Mohammed Al Ja’fari, Director General of JLGC in the presence of senior representatives from both organisations.
Under the MoU, both institutions will collaborate on defined workstreams that include cooperation in insurance, reinsurance, and collections; sharing of commercial information and credit opinion on businesses located in the UAE and Jordan; conducting technical workshops; development of Halal industry and Sharia-compliant insurance and financial solutions; participation in trade shows; and enhancing investments and SME programmes. According to the statistics provided by the UAE Ministry of Economy, the total non-oil export trade volume between the UAE and Jordan has increased to $741 million (Dh2.72 billion) in 2018, from $610 million in 2017.