Etihad Credit Insurance, the national export credit agency of the UAE Federal Government, has conducted a focus group workshop with Abu Dhabi-based exporters in partnership with Abu Dhabi Chamber of Commerce and Industry (ADCCI).
The workshop was aimed at listening to UAE exporters’ challenges and needs to boost their competitiveness in global trade, said a statement from Etihad Credit Insurance.
The workshop outcomes, which was held in the headquarters of the ADCCI, will inspire Etihad Credit Insurance to identify areas where support is needed, and develop bespoke solutions to mitigate trade and export risks. These are instrumental to drive in more growth for UAE businesses, locally and internationally, it said.
This initiative is the first amongst the many roadshows that Etihad Credit Insurance will be running together with all chambers of commerce across the UAE, it added.
Mohammed Hilal Al Muhairi, director general, ADCCI, pointed out that the cooperation with Etihad Credit Insurance as the umbrella for UAE exporters cements the commitment of Abu Dhabi Chamber in holistically serving the private sector and helping the sector increase its contribution to the local economy.
Al Muhairi said: “ADCCI’s participation in organising this workshop, in cooperation with Etihad Credit Insurance, comes within the framework of the chamber in supporting the development of the private sector in the UAE, in general, and in Abu Dhabi, in particular, which is the main point of trade between different countries.”
The partnership, Al Muhairi added, is in line with the vision of the Emirate of Abu Dhabi to support and develop non-oil sectors as the collaboration is set to widen the opportunities available for businesses, raise the volume of national exports, and enhance exporters’ competitiveness in the international markets.
Massimo Falcioni, chief executive officer, ECI, said: “We play a catalyst role in the promotion of UAE’s non-oil exports, trade, investments and strategic sectors development, in line with UAE Vision 2021 agenda.”
“Our collaboration with ADCCI is part of our comprehensive plan to build a platform of strategic partnerships, which will enable us to provide businesses with tools that will meet their needs,” he said.
“The event indeed gives us the unique opportunity to share Etihad Credit Insurance’s national mandate to accelerate and sustain the national non-oil diversification, and to learn from corporates based in Abu Dhabi their challenges and recommendations for trade and export,” added Falcioni.
Abu Dhabi’s non-oil exports and re-exports in the first half of 2018 reached Dh23.4 billion ($6.37 billion), a 6 per cent increase from the Dh22 billion ($5.99 billion) recorded in the same period in 2017, figures from the Statistics Centre – Abu Dhabi show, said a statement.
Non-oil exports stood at Dh11.1 billion ($3.02 billion) in the first half of 2018, which is 1.5 per cent up from Dh10.9 billion ($2.96 billion) in the same period last year while re-exports rose to Dh12.3 billion ($3.34 billion) from Dh11.1 billion ($3.02 billion), it said.
The Focus Group Discussion served as a strategic platform to learn more about businesses operating in the UAE, especially in Abu Dhabi.
The event included a roundtable discussion that touched on timely and strategic topics like market environment and implied challenges; trends impacting the market; current risk management practices and ECI support and its product features, it stated. – TradeArabia News Service