iStock/Anton Aleksenkoby Kudakwashe Muzoriwa
UAE’s Etihad Credit Insurance (ECI) has signed an MoU with the Export Credit Guarantee Company of Egypt (ECGE) to strengthen trade relations as well as boost bilateral exports between the two countries.
According to data from the Ministry of Economy, UAE’s non-oil trade with Egypt in 2018 reached AED 20.1 billion, a 14.6 per cent growth compared to AED 17.6 billion in 2017.
Under the agreed the two entities agreed to create a collaborative task force to explore trade as well as collaborate on technical and economic matters through dedicated workstreams such as Halal industry and Shari’ah-compliant insurance and finance solutions, reinsurance and exchange of commercial information.
Massimo Falcioni, the CEO of ECI, said, “ECI’s partnership with ECGC will not only reinforce the existing partnership between the two countries but will also boost the regional and global competitiveness of local businesses.”