2023-06-13 11:13:00
Tuesday, June 13, 2023 – 3:13 PM
DUBAI, June 13, 2020 / WAM / Al Etihad Export Credit Company signed a cooperation agreement with the Kazakh Export Insurance Company to enhance trade and support sustainable economic growth between the UAE and Kazakhstan.
The agreement comes within the framework of the “We Are the Emirates 2031” vision, which aims to strengthen bilateral economic relations between the two countries, in a way that pushes the business of exporters and small and medium-sized companies towards prospects for sustainable growth in the fields of renewable energy, waste management and the manufacture of halal products, as part of the continuous efforts of the UAE to consolidate its position. A global center for trade and finance, and to enhance its role as an attractive market for major international companies.
Under the agreement, the two parties will provide Sharia-compliant insurance, trade credit and export solutions to UAE and Kazakh exporters to protect them from potential commercial risks in international transactions.
It will also allow the two parties to cooperate jointly in organizing workshops aimed at educating small and medium-sized companies on the advantages of using trade protection solutions to mitigate the risks of non-payment of payments resulting from a number of commercial and geopolitical factors.
His Excellency Raja Al Mazrouei, CEO of “Al Etihad Export Credit Company”, appreciated the objectives of the strategic agreement with the Kazakh Export Insurance Company in order to enhance the global competitiveness of Emirati and Kazakh companies, which strengthens the commitment of the two countries to develop their bilateral relations in the economic and trade fields to serve common national interests.
It was agreed between the two parties to form a working group to explore more opportunities for cooperation, with a focus on seven strategic areas, including insurance, promotion of trade, and programs aimed at supporting the businesses of small and medium enterprises.
It is noteworthy that the UAE is Kazakhstan’s largest trading partner in the region, as the total trade exchange between the two countries exceeded regarding $632.6 million at the end of 2022, and exports from the UAE to Kazakhstan amounted to regarding $72.3 million.
Ahmed Al-Boutli / Muhammad Jaballah
1686655615
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