Dubai, UAE: Etihad Credit Insurance (ECI), the UAE Federal Export Credit Company has signed a Memorandum of Understanding (MoU) with Khalifa Industrial Zone Abu Dhabi (KIZAD), the integrated trade, logistics, industrial and free zone owned by Abu Dhabi Ports, to support UAE businesses and increase exports by providing export insurance solutions that meet their growth plans.
 
The agreement will establish a framework that enables the two institutions to support local businesses and increase their export-related activities by accessing ECI’s trade and finance solutions, exposure to trade credit, surety bonds and asset finance, as well as other related finance services through a strategic partnership.
 
The agreement will also help UAE-based companies to capitalise on potential market opportunities by offering them ECI’s comprehensive range of financial solutions and insightful country risk reports and KIZAD’s world-class infrastructure and customised business solutions, that will facilitate trade, logistics, and industrial investments locally and internationally.

The MoU was signed by Massimo Falcioni, CEO of ECI and Samir Chaturvedi, CEO of KIZAD in the presence of senior officials from both organisations.

Under this MoU, ECI and KIZAD will collaborate on defined areas of cooperation that include: joint organisation of workshops, forums; involvement in relevant events or activities; exchange of in-depth market intelligence and country risk reports; facilitation of referral channels for ECI; provision of a permanent facility desk for ECI within KIZAD headquarters for continuous sharing of information, support, and services to valued members.

Massimo Falcioni, CEO, ECI said: “One of ECI’s defining missions has been to sustain and develop UAE-based businesses in the expansion of the country’s non-oil exports, trade, investments, and other strategic sectors, aligned with the Vision 2021 agenda. The partnership between ECI and KIZAD will play an important role for the UAE-based investors and exporters, as it will help them focus on their expansion plans in a streamlined and efficient manner that will not only further their interests but also help in contributing to the country’s progression.”
 
Captain Mohamed Juma Al Shamisi, Group CEO of Abu Dhabi Ports, said: “We are proud to partner with one of Abu Dhabi’s flagship trade entities to help facilitate business growth in the UAE. This MoU will help businesses operating at Abu Dhabi Ports and KIZAD to export and re-export goods with ease and provide more financing options for international companies looking to invest in the UAE. It aligns with Abu Dhabi government’s initiatives to diversify the economy and increase the contribution of the private sector to the Emirate’s GDP from 32 per cent currently to 37 per cent by 2021. This partnership is representative of Abu Dhabi Ports’ mission to attract investment to the UAE and cement Abu Dhabi as a leader in global trade.”
 
Commenting on the partnership Samir Chaturvedi, CEO of KIZAD said: “This partnership will enable all of our tenants to benefit from greater access to the services that Etihad Credit Insurance provide – from export credit and trade credit insurance, to export financing and surety bonds. This MoU will allow exporters, re-exporters and investors alike to expand their businesses in the UAE. It is a valuable addition to the supportive infrastructure already available at KIZAD, which includes a range of competitive business and facilities management services, as well as excellent connectivity to major transport links across the UAE and broader region.”

-Ends-

About Etihad Credit Insurance:

Etihad Credit Insurance (PJSC) was established by UAE Federal Government and its founders, the governments of Abu Dhabi, Dubai, Ras Al Khaimah, Fujairah and Ajman. The company started its operations in February 2018. ECI plays a catalyst role in supporting the UAE’s non-oil exports, trade, investments and strategic sectors development, in line with UAE Vision 2021 agenda.

It is tasked to accelerate and sustain national economic diversification as well as support the export and re-export of UAE goods, works, services, and the foreign investments of the UAE businesses through a range of export credit, financing and investment insurance products.

To provide UAE businesses with solutions that meet their growth objectives locally and internationally, ECI builds a comprehensive platform of strategic partnerships across government, insurers, re-insurers, brokers, banks and lenders, regional and international Export Credit Agencies, governments and trade promotion agencies in addition to world organisations for economic development.

For media inquiries, please contact:
Abeer Al Mutawa
Director Marketing & Communications
Etihad Credit Insurance
+971 4 245 4445
abeer.almutawa@eci.gov.ae 

Sonal Salvi
PR Manager
New Perspective Media
+971 58 206 9825/ +971 4 244 9642
sonal@newperspectivemedia.com  
 
About Abu Dhabi Ports:
 
Established in 2006, Abu Dhabi Ports is a global trade enabler strategically based in the capital of the United Arab Emirates. It is the region’s premier facilitator of logistics, transport, and trade, bridging Abu Dhabi with the world. Abu Dhabi Ports owns and manages 11 ports and terminals in the UAE and Guinea.
 
Abu Dhabi Ports’ largest subsidiary is Khalifa Industrial Zone Abu Dhabi (KIZAD), the integrated trade, logistics, and industrial hub, with the flagship, deep water Khalifa Port as its maritime gateway.
 
Additional subsidiaries of Abu Dhabi Ports include: Abu Dhabi Marine Services (SAFEEN), Maqta Gateway, Abu Dhabi Maritime Academy, Abu Dhabi Terminals (ADT), and Abu Dhabi Cruise Terminal.
 
For more information, please visit: www.adports.ae 
 
About KIZAD:
 
Established in 2010 and operational since 2012, Khalifa Industrial Zone Abu Dhabi (KIZAD) is a subsidiary of Abu Dhabi Ports. Strategically located between Abu Dhabi and Dubai - with the deepwater Khalifa Port as its maritime gateway - KIZAD is Abu Dhabi’s integrated trade, logistics and industrial hub facilitating sustainable growth in metals, polymers, food, automotive, water and oil and gas.
 
For more information, please visit: www.kizad.ae 
Follow us on twitter: @KizadUAE @AbuDhabiPorts
Follow us on LinkedIn: Kizad

© Press Release 2019

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