Etihad Credit Insurance (ECI), UAE’s federal export credit company, recently organized a training workshop for the companies chosen to participate in its strategic initiative, Xport Xponential. This event, held at the iconic Museum of the Future, follows the announcement of the selected companies that will be part of this initiative aimed at enhancing export credit services.
The workshop saw the participation of local and international entities, including the initiative’s 19 federal and financial partners alongside the selected companies now integrated into the program. The goal was to provide essential insights and tools to support their export credit services journey. Relevant government representatives, a distinguished lineup of experts, stakeholders, and media representatives also attended the event.
Empowering local manufacturers and exporters
Opening the workshop, H.E. Raja Al Mazrouei, CEO of ECI, emphasized how the Xport Xponential initiative aims to create new opportunities for export, re-export, and foreign trade activities. This positioning seeks to establish the UAE as a pivotal player in global markets while empowering local manufacturers and exporters to enhance their growth. H.E. Al Mazrouei also highlighted the initiative’s key offerings, which include a comprehensive suite of credit and financing solutions developed in partnership with strategic partners from both public and private sectors. Advisory support and access to an extensive database facilitate partnerships with potential buyers and importers around the globe.
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Aligning with national development strategies
Her Excellency noted that the directives of the wise leadership and the national development strategies of the UAE serve as a roadmap for the Xport Xponential initiative. The objectives of the initiative align with the economic goals of the ‘We the UAE 2031’ vision, which targets increasing the GDP to AED3 trillion, elevating non-oil exports to AED800 billion, and raising the value of foreign trade to AED4 trillion within the next decade. H.E. Al Mazrouei concluded by reiterating ECI’s unwavering commitment to enhancing the competitiveness of domestic non-oil goods, which will aid in diversifying the UAE economy and boosting its competitive advantage at both regional and global levels.
Focus on SMEs and trade finance
Moreover, as the workshop continued, Dr. Yasar Jarrar, managing partner at Gov Campus, author, and professor at Hult International Business School, discussed the growth trajectory of small and medium-sized enterprises (SMEs) in the UAE. This was followed by a presentation from Mahesh Kumar, vice president of Trade Finance at Emirates Development Bank (EDB), who delivered a session titled ‘Trade And Working Capital Products – Value Proposition.’
During a virtual session, Haitham Al Khazaleh, head of Middle East and Africa, director of Public Sector Solutions at Swiss Re Management Ltd., highlighted the role of re-insurance in supporting Export Credit Agencies. Following this, Robert Besseling, CEO and founder of PANGEA-RISK, shared insights on the export opportunities available for the UAE, focusing on risk assessment of key export markets.
The sessions further continued with Andreas Klasen, Strategy Advisor and Professor of International Business at Oxford HRA, addressing the audience about the importance of empowering global trade and the role of Export Credit Agencies (ECAs) in sustainable export growth.
Strengthening trade relations through CEPAs
Shaima Alaydarous, director of Negotiations and International Organizations Department at the Ministry of Economy, led a strategic discussion on the importance of Comprehensive Economic Partnership Agreements (CEPAs) in supporting exporters and importers in the UAE market. This discussion emphasized strengthening the UAE’s trade relations with key regional and global markets. Meanwhile, Thuraiya Hamid Alhashmi, director of International Financial Relations and Organizations at the Ministry of Finance, underscored the significance of Bilateral Investment Treaties. This was followed by a session on the legal aspects of trade, where Michael Morris, partner at Clyde and Co., and Rebekah Jones, senior associate at Clyde and Co., discussed the legal challenges affecting international trade.
Bridging trade finance gap
Christopher Hanning, head of Trade Asset Distribution at DP World Trade Finance, led a session titled ‘Bridging the Trade Finance Gap the DP World Way,’ which aligned with the overarching theme of enhancing export credit services. The workshop concluded with closing remarks from H.E. Raja Al Mazrouei, wrapping up a successful event dedicated to promoting growth in export credit services.
