The Abu Dhabi Department of Economic Development (ADDED), represented by its Industrial Development Bureau (1DB), has revealed the signing of a strategic partnership agreement with Etihad Credit Insurance (ECI), the UAE Federal export credit company, which is aimed towards providing trade credit solutions and in-depth market intelligenceto increase the competitiveness of Abu Dhabi based export businesses and increased contributions to Abu Dhabi's gross domestic product (GDP). The agreement was signed by Rashed Abdul Karim Al Balooshi, Undersecretary, ADDED and Massimo Falcioni, CEO, ECI at a special signing ceremony held atADDED's Abu Dhabi Economic Media Club in the presence of officials from both ADDED and ECI. The agreement looks towards increasing the private sector's contribution to the emirate's GDP, promoting the emirate's exports, supporting the national product, enabling the industrial sector and enhancing its partnership with the public sector. The agreement is also aimed to protect the private businesses' transactions with external markets by providing trade credit solutions of ECI. RashedAbdul KarimAl Balooshiexplainedthat the newly formed alliance between ADDED and ECI complements the department's continuing efforts to play a key role in achieving the emirate's objectives, promoting partnership with the private sector and enhancing competitiveness and the capabilityto lead Abu Dhabi's economic agenda and achieve sustainable development. He also lauded the strength of the collaboration between ADDED and ECI, which is the federal entity tasked to accelerate and sustain national economic diversification as well as support the export and re-export of UAE goods, works, services, and the foreign investments of the UAE businesses. Business Bureau, Gulf Today
The Abu Dhabi Department of Economic Development (ADDED), represented by its Industrial Development Bureau (1DB), has revealed the signing of a strategic partnership agreement with Etihad Credit Insurance (ECI), the UAE Federal export credit company, which is aimed towards providing trade credit solutions and in-depth market intelligenceto increase the competitiveness of Abu Dhabi based export businesses and increased contributions to Abu Dhabi's gross domestic product (GDP). The agreement was signed by Rashed Abdul Karim Al Balooshi, Undersecretary, ADDED and Massimo Falcioni, CEO, ECI at a special signing ceremony held atADDED's Abu Dhabi Economic Media Club in the presence of officials from both ADDED and ECI. The agreement looks towards increasing the private sector's contribution to the emirate's GDP, promoting the emirate's exports, supporting the national product, enabling the industrial sector and enhancing its partnership with the public sector. The agreement is also aimed to protect the private businesses' transactions with external markets by providing trade credit solutions of ECI. RashedAbdul KarimAl Balooshiexplainedthat the newly formed alliance between ADDED and ECI complements the department's continuing efforts to play a key role in achieving the emirate's objectives, promoting partnership with the private sector and enhancing competitiveness and the capabilityto lead Abu Dhabi's economic agenda and achieve sustainable development. He also lauded the strength of the collaboration between ADDED and ECI, which is the federal entity tasked to accelerate and sustain national economic diversification as well as support the export and re-export of UAE goods, works, services, and the foreign investments of the UAE businesses. Business Bureau,