Dubai: Etihad Credit Insurance (ECI) — the UAE Federal export credit company — has inked an Memorandum of Understanding with Arab Investment & Export Credit Guarantee Corporation (Dhaman) to strengthen inter-Arab trade and UAE exports globally.

The MoU was signed during the workshop organised jointly by the UAE Ministry of Economy, Dhaman, and UAE International Investors Council, to insure UAE investments in the Arab world against political risk.

The agreement lays the framework for the two parties to encourage local businesses to grow and expand, thereby boosting inter-Arab trade and UAE exports worldwide in line with the UAE’s non-oil diversification strategy.

The MoU was signed by Massimo Falcioni, ECI’s CEO, and Fahad Rashid Al Ibrahim, Director-General of Dhaman, in the presence of Saeed Al Awadi, CEO of Dubai Export Development Corporation, and Board Member and Chairman of ECI’s Executive Committee; Abdulla Ahmad Al Saleh, Under-Secretary of Foreign Trade at Ministry of Economy; Jamal Saif Al Jarwan, Secretary-General at UAE International Investors Council; and other senior officials and representatives from the ECI and Dhaman.

The areas of cooperation between the ECI and Dhaman include support for the SME sector and a strong focus on investment insurance schemes and finance solutions. They will also collaborate to ease and enhance trade and boost business relations between UAE and Arab countries by organising a series of seminars as well as B2B meetings for the export community.

An exchange of market intelligence and mutual collaboration in terms of expert underwriting services, risk management and risk assessment solutions between the two parties are also highlighted in the MoU.