Friday , May 24 2019

ECI, French bank partner to help UAE businesses expand globally

Dubai / WAM

Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a Memorandum of Understanding with French bank Natixis, a subsidiary of Groupe BPCE, the second-largest banking group in France, to strengthen UAE’s exporters’ capability to trade globally, assist businesses to expand internationally and support the UAE’s non-oil
diversification strategy.
The areas of cooperation between ECI and Natixis include support for UAE businesses by educating them through a series of seminars and workshops on commercial and political risk mitigation, mutual collaboration in export finance solutions, and the exchange of market intelligence between the two parties.
The partnership will augment the UAE’s strategy to reduce its reliance on the oil sector as a source of economic activity over time, and to place a greater focus on developing more diversified growth and trade activity.
Saed Al Awadi, Chief Executive Officer of Dubai Export Development Corporation, and Board Member and Chairman of the Executive Committee at ECI, said, “ECI consistently works towards accelerating and sustaining national economic diversification as well as supporting the export and re-export of UAE goods, works, services, and the foreign investments
of the UAE businesses, by providing a range of export credit, financing and investment insurance products.”

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