Saudi Arabia, UAE agencies collaborate to empower cross-border non-oil exports

The UAE’s federal export credit company, Etihad Credit Insurance (ECI), partnered with the Saudi Fund for Development (SFD) for financing and providing credit insurance to protect non-oil exports of the UAE and Saudi Arabia.

The collaboration aims to enhance the countries’ global competitiveness and widen the opportunities for local businesses as well as the export and trading community, WAM reported.

"The association with SFD will prove to be beneficial for UAE-based businesses as they will have access to new market, potential business market intelligence supported with ECI’s trade credit solutions to diversify their businesses," Massimo Falcioni, CEO of ECI, said.

The key highlights of the alliance between the institutions include sharing of work streams that include insurance, reinsurance and collections cooperation; commercial information and credit opinion sharing; cooperation in technical training programs; trade promotions; and small and medium enterprises (SME) programs.

“We believe our alliance with ECI will prove to be beneficial for the SME industries that will help to surpass the challenge of funds," Dr. Khaled bin Sulaiman Al Khudairy, Vice Chairman and Managing Director of SFD, said.