Etihad Credit Insurance (ECI), the national export credit agency of the UAE Federal Government, in partnership with Abu Dhabi Chamber of Commerce and Industry (ADCCI) has conducted a focus group workshop with Abu Dhabi-based exporters, aimed at listening to UAE exporters’ challenges and needs to boost their competitiveness in global trade.
The focus group discussion served as a strategic platform to learn more about businesses operating in the UAE, especially in Abu Dhabi. The event included a roundtable discussion that touched on timely and strategic topics like market environment and implied challenges; trends impacting the market; current risk management practices and ECI support and its product features.
The workshop outcomes will inspire ECI to identify areas where support is needed, and develop bespoke solutions to mitigate trade and export risks. These are instrumental to drive more growth for UAE businesses, locally and internationally.
This initiative is the first among the many roadshows that ECI will be running together with all chambers of commerce across the UAE.
Mr Mohammed Hilal Al Muhairi, director general of ADCCI, said the partnership is in line with the vision of Abu Dhabi to support and develop non-oil sectors as the collaboration is set to widen opportunities available to businesses, raise the volume of exports, and enhance exporters’ competitiveness in the international markets.
Mr Massimo Falcioni, CEO of ECI said, “Our collaboration with Abu Dhabi Chamber of Commerce & Industry is part of our comprehensive plan to build a platform of strategic partnerships, which will enable us to provide businesses with tools that will meet their needs.”
Abu Dhabi’s non-oil exports and re-exports in the first half of 2018 reached AED23.4bn ($6.4bn), a 6% increase from the AED22bn recorded in the corresponding period in 2017, figures from the Statistics Centre – Abu Dhabi show. Non-oil exports stood at AED11.1bn in the first half of 2018, up 1.5% from AED10.9bn in the same period last year, while re-exports rose to AED12.3bn from AED11.1bn.
ECI was established in 2015 by the UAE Federal Government and its founders, the governments of Abu Dhabi, Dubai, Ras Al Khaimah, Fujairah and Ajman. 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 UAE businesses, ECI provides a range of export credit, financing and investment insurance products.
ECI has built a comprehensive platform of strategic partnerships across government, insurers, reinsurers, brokers, banks and lenders, regional and international export agencies, governments and trade promotion agencies in addition to world organisations for economic development. M
AED1 = $0.27