To enhance trade relations and investments between the two countries
Agreement between the two export credit agencies of the UAE and Israel
Following the signing of the agreement between the "Union for Export Credit" and the Israeli Foreign Trade Risk Insurance Corporation.
■ from the source
The two export credit agencies of the UAE and Israel signed a trade cooperation agreement, which will enhance trade relations and export credit opportunities between both countries.
A statement issued yesterday stated that the Union Export Credit Company had agreed with the Israeli Foreign Trade Risk Insurance Corporation to cooperate to enhance and support exports, as well as trade exchange and discuss promising investment opportunities, in addition to providing joint technical support and training, and expanding the scope of the strategic alliance between countries UAE and Israel.
The new agreement will facilitate access for exporters in both countries to solutions to protect export credit and reduce the risk of non-payment, in addition to their access to key sectors in the market, such as agriculture and water treatment, renewable energy, health care, aluminum, iron, "cables". , Petrochemical, and technology.
The agreement was signed by Massimo Falcioni, CEO of Etihad Export Credit, and Nissim Beneli, CEO of the Israel Foreign Trade Risk Insurance Corporation.
"This agreement, the first of its kind between the two export credit agencies in the United Arab Emirates and Israel, is a qualitative leap towards sustainable peace, which stems from the vision of the wise leadership in the UAE, after it signed the historic peace treaty with Israel," Falcioni said.
"This cooperation is the beginning of strengthening trade relations between the two countries, especially as we are confident that it will play a major role in the field of exchanging experiences and creating promising opportunities that will support companies in both countries," he added.
For his part, Ben Ali said: “We are happy to sign this agreement with the Union Export Credit Company, which highlights the efforts made by both countries to enhance bilateral cooperation and support companies from various sectors. This strategic alliance will contribute to enhancing exports and investments, and reducing The political and commercial risks that companies may face, in addition to facilitating access to medium and long-term export financing.
Areas of cooperation
Areas of cooperation under the agreement include the following: strengthening trade relations, exploring joint opportunities in insurance and re-insurance of goods that will be exported to a third country, investments and services that support insured exports, facilitating small and medium-sized companies' access to finance, exchanging best practices in the field of credit. Commercial, risk management, country risk assessment, payment claim procedures, information technology, organizing joint events, and customizing innovative export credit solutions
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