Dubai, UAE: Dubai Chamber of Commerce and Industry has announced that it has signed a Memorandum of Understanding (MoU) with Etihad Credit Insurance, the UAE Federal export credit company, with the aim of enhancing the competitiveness of Dubai-based companies in global trade.
Under the terms of the agreement, Dubai Chamber will organise and host several seminars and workshops in cooperation with Etihad Credit Insurance that will educate businesses in Dubai about the benefits of trade credit insurance, surety bonding and trade finance solutions.
In addition, Etihad Credit Insurance will share market intelligence in this area and highlight countries and sectors that offer new business opportunities for Dubai-based traders, as well as practical tips for reducing trade risks.
The MoU was signed by Omar Khan, Dubai Chamber’s Director of International Offices, and Massimo Falcioni, Chief Executive Officer of Etihad Credit Insurance, in the presence of H.E. Hamad Buamim, President & CEO of Dubai Chamber, and H.E. Engr. Saed Al Awadi, Chief Executive Officer of Dubai Export Development Corporation, Board Member and Chairman of the Executive Committee of Etihad Credit Insurance, as well as senior officials and executives from Dubai Chamber and Etihad Credit Insurance.
H.E. Buamim stressed the significance of the agreement in enhancing the competitiveness of Dubai-based exporters in foreign markets. He noted that the upcoming seminars and workshops would increase awareness of export-related risks among Dubai Chamber members and help them expand their global reach, adding that such efforts will ultimately support the development of the emirate’s trade sector.
H.E. Engr. Saed Al Awadi said: “This newly formed partnership between ECI and Dubai Chamber demonstrates our continuing commitment to play a lead role in the country’s move towards economic diversification. The alliance that we have forged is aimed at providing UAE companies with the necessary assistance and guidance needed in driving in more growth and development to their businesses.”
Massimo Falcioni said: “ECI’s mission in supporting the non-oil diversification strategy of the UAE complements Dubai Chamber’s objective to represent, support and protect the interests of the business community in Dubai. This partnership underscores the importance of educating and equipping Dubai exporters with risk mitigation tools that will help them compete and expand in the international markets.”