Sharjah, UAE:

Etihad Credit Insurance (ECI), the UAE Federal credit insurance company, has signed a Memorandum of Understanding (MoU) with Sharjah Chamber of Commerce and Industry (SCCI) to support the non-oil sectors, especially the thriving manufacturing sector as well as Sharjah-based SMEs and exporters.

The partnership highlights the commitment of both ECI and SCCI in enhancing the growth and development of the UAE’s non-oil sectors, as support to the country’s non-oil diversification strategy.

The MoU was signed by H.E. Mohammed Ahmed Amin, Acting Director General of SCCI, and Massimo Falcioni, CEO of ECI, in the presence of HE Abdullah Sultan Al Owais, Chairman of the Board of Sharjah Chamber of Commerce and Industry (SCCI), HE Raghda Taryam, Board Member and Abdulaziz Shattaf, Assistant Director-General for Members Services at SCCI.

The areas of focus of the partnership include organising seminars, training programmes and workshops about the benefits of trade protection solutions; offering keen market insights that highlight commercial and political risks; facilitating referrals channel to ECI; as well as promoting ECI’s trade credit solutions across SCCI’s channels.

Sharjah’s commercial appeal contributes to the economic growth of both the emirate and the UAE. Across Sharjah’s industries, manufacturing remains amongst the most significant sources of the emirate's annual GDP with its contribution estimated at approximately 19 per cent. Additionally, it has been estimated that over 48 per cent of UAE’s gross industrial output comes from Sharjah’s 19 industrial areas.

H.E. Mohammed Ahmed Amin, Acting Director General of SCCI, said: “Sharjah has always been considered as an emirate with immense potential. Some of its high-performing sectors include healthcare, industrial, wholesale and retail, and the education sector. By collaborating with ECI, we will be able to provide Sharjah-based businesses access to trade credit and support solutions that will allow them to boost their potential, improve their local presence and prepare them for global ventures. This partnership will also play a critical role in further strengthening and nurturing Sharjah’s non-oil sectors, especially the manufacturing industry, that in turn will support in the sustainable progress of the emirate and the UAE at large.”

Massimo Falcioni, CEO of ECI, said: “Since its inception, ECI’s role is to support and boost the non-oil diversification strategy of the UAE aligned with the country’s Vision 2021 Agenda. ECI’s partnership with SCCI is a tremendous step towards fulfilling those objective and goals. Through this alliance, ECI can further assist Sharjah-based SMEs and businesses by providing trade credit solutions, expert advisory services, and training programmes.”

The Sharjah Chamber of Commerce and Industry was set up following an Amiri decree that was issued in 1970. The Chamber’s primary objective has been to stimulate the sustainable financial and industrial development of the Sharjah business community, to enhance their overseas growth, and to be a center that offers the best practices, and solutions.

-Ends-

For more information, please contact:
Osama Al Ansari:
Misbar Communications
00971509195422
Osama@misbar-me.com 

Heba Alshahed
Misbar Communications
00971505785422
henbaalshahed@misbar-me.com 

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.

About Sharjah Chamber of Commerce and Industry

Sharjah Chamber of Commerce & Industry was established by an Amiri decree issued in 1970 by His Highness the Ruler of Sharjah in order to effectively and vitally participate in the organization of economic life and the prosperity of its trade, industry and professions sectors on all levels and in cooperation with the concerned establishments and bodies and local departments.

Thus, the chamber is keen to include in its membership all the companies and establishments practicing economic activity in the emirate whether it is trade, industries or professions. It has been obligatory for the chamber to follow the economic and civilizational development witnessed by United Arab Emirates a matter that naturally requires change on the different services and activities of the chamber.

In 2003 the chamber witnessed quantum and qualitative leap represented in His Highness the Ruler of Sharjah issuing a new law organizing the chamber and giving it wider fields and bigger jurisdictions in order to continue its route with positive contribution in all fields of economy and investment and to serve the community as a whole.

In 2007 the chamber’s new organizational chart was approved and an administrative and executive body was set with positions as per the responsibilities, duties and the nature of services, activities and jurisdictions in the departments, offices and sections in a manner coinciding with the new economic boom.

Since 1980 the services and activities of the chamber has covers all cities in Sharjah City and accordingly the chamber in addition to the head office has four branches in the cities of Khorfakkan, Kalba, Al Dhaid, central area and Dibbs Al Hisn in addition to offices and services of the chamber in the model industrial area and the head office of Sharjah Economic Development Department and Sharjah free zones.

The chamber’s board of directors supervises the execution of the general policy and is working on the means for the success of such policy and the reflection of the chamber’s role in the local community. There are also some specialized committees made of the board of directors to assume many specializations in the fields of trade, industries, professions and reconciliation.    

© Press Release 2019

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