Ajman DED Signs Memorandum Of Cooperation With ECI To Promote Exports

AJMAN, (UrduPoint / Pakistan Point News / WAM - 25th May, 2021) The Ajman Department of Economic Development (Ajman DED) signed on Tuesday a memorandum of cooperation with Etihad Credit Insurance (ECI), to build and strengthen effective cooperation and establish a distinguished partnership in areas of common interest.

Signed by Abdullah Ahmed Al Hamrani, Director-General of Ajman DED, and Massimo Falcioni, CEO of ECI, the memorandum aims to coordinate cooperation between the two parties, to support Emirati companies, increase the UAE's exports, and support export companies operating in the emirate by providing export insurance services.

This memorandum was concluded to enhance Ajman DED's efforts to improve the export environment in the emirate, to achieve comprehensive and sustainable economic development in the emirate, establishing it as a hub for entrepreneurship, Al Hamrani said, adding that the agreement will include facilities to support export companies.

Sheikh Abdullah bin Nasser Al Nuaimi, Director of Planning and Business Development at Ajman DED, said that the agreement provides for the implementation of initiatives that help grow the emirate's exports, as well as the launch of seminars and workshops to familiarise exporters with the advantages of trade credit protection solutions.

The two parties will also seek to facilitate access for the exports of Ajman-based companies to international markets, and provide relevant information and country risk assessment reports to highlight the commercial and political risks such companies may face when operating in foreign markets.

Falcioni said that the ECI’s main goal is to drive trade and provide solutions that reduce costs, and ensure the rights of exporters, allowing them to do business while feeling safe, highlighting the ECI's efforts to bolster the UAE's non-oil economy by providing innovative credit protection solutions to Emirati companies.