The Dubai Export Development Corporation (DEDC) held a seminar on Export Credit Insurance Scheme (ECIS) for UAE based exporters.

The day-long event was attended by leading businessmen and government officials from the UAE, who were briefed on the strategic value of the scheme in boosting domestic as well as export related trade activities in the UAE, said an official spokesman.

The seminar, one among many similar events held under the auspices of the DEDC, aims to educate key industry leaders on various activities undertaken by the corporation to deliver value-added support services for exports and the fledgling manufacturing sectors in the UAE, particularly Dubai.

“DEDC’s expressed commitment is to solidify Dubai’s position as the regional hub for export oriented trade,” said DEDC CEO Saed Al Awadi.

“The Export Credit Insurance Scheme forms part of a wider portfolio of services that DEDC has structured to enhance the competitiveness of Dubai-based exporters as they tackle regional and global markets, with their products and services.”

Key topics addressed in the seminar included issues such as trade finance risks, types of insurance, credit insurance benefits, global case studies in export credit insurance, and credit insurance products that adhere to Islamic Principles and Sharia.

Recently figures show that Dubai’s total non-oil foreign trade grew by 29.6 per cent in 2007, defying slower global economic growth witnessed in the same period while total non-oil foreign trade increased by Dh155 billion ($42.21 billion).

It reached Dh678.5 billion in 2007, compared to about Dh523.5 billion in 2006. Dubai’s direct exports in 2007 increased 48 per cent to reach Dh 27 billion compared to Dh18.3 billion in 2006. – TradeArabia News Service