
iStock/Anton Aleksenko
by Kudakwashe MuzoriwaUAE’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.”
MOST READ
BUSINESS
COVID-19 poses downside risks to Egyptian banksBUSINESS
Fed rate cuts add pressure on Saudi banksBUSINESS
UAE firms launch Covid-19 economic aid packagesBUSINESS
Saudi Arabia plans to boost oil export to 10...BUSINESS
Aldar to invest AED 2 million in Abu Dhabi...BUSINESS
GCC UHNWIs population to grow by 26 per cent...BUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
SEDCO Capital exits a US real estate investmentBUSINESS
NMC Health hires Moelis for debt restructuringBUSINESS
SABB seeks to boost corporate lendingBUSINESS
Dubai’s W Motors seeks funds to go electricBUSINESS
SHUAA Capital reports a net profit of AED 45...BUSINESS
HSBC considering exiting from TurkeyBUSINESS
Zimbabwe turns to UAE to sell a stake in...