UAE and Italy export credit agencies to support SMEs and the halal sector


Officials from Etihad Credit Insurance and SACE at a meeting in Dubai. WAM

Etihad Credit Insurance (ECI), the Federal Export Credit Company of the United Arab Emirates, and SACE, the Italian Export Credit Company, discussed their collaboration in sustainable development projects, trade finance SMEs, as well as the halal sector, in accordance with their national economic strategies. .

The meeting is part of the Memorandum of Understanding signed between ICE and SACE, as part of the 6th meeting of the UAE-Italy Joint Economic Committee, held at the Ministry of Economic Development (MISE) in Rome in 2018, which defined the framework to improve business opportunities between the two countries.

At the meeting, which was held at the ECI branch in Dubai, the Italian delegation, led by Pierfrancesco Latini, CEO of SACE, and including Michal Ron, International Director of SACE, President of the Berne Union , met Massimo Falcioni, CEO of ECI, as well as senior officials from both organizations.

“Italy and the United Arab Emirates have a similar vision of placing sustainable development at the heart of their global agenda. The cooperation talks between ICE and SACE to support strategic investments and green projects will be a major boost for the ancestral trade relations of the two countries. Through this alliance, we are determined to help Italian and UAE companies access sustainable financing that will pave the way for highly responsible trade and investment opportunities between the two countries, ”said Latini.

Falcioni said: “We are honored to continue the cooperation that ICE started with SACE three years ago. By supporting Emirati and Italian companies involved in sustainable development and green energy projects, we will increase the competitiveness of trade and export companies from both countries, thus strengthening the excellent and lasting relationship between the United Arab Emirates and the United Arab Emirates. ‘Italy.

A week earlier, Etihad Credit Insurance (ECI), the UAE’s International Council of Investors (UAEIIC), Dubai Exports, the Italian Trade Agency (ITA) and Confindustria, Italy’s largest industrial confederation, discussed the cooperation in various areas, including increasing exports, Foreign Direct Investment (FDI) and trade finance support between UAE and Italy.

The high-level discussion is in line with Italy’s goal of promoting “ Made in Italy ” products across the world and attracting FDI to the European country and it is also consistent with the initiative “ Recently launched ‘Make it in the Emirates’ which encourages international investors to realize their ambitions of developing, manufacturing and exporting their UAE products.

The delegation, led by Carlo Ferro, President of ITA and Barbara Beltrame Giacomello, Board Member and Vice President of International Affairs of Confindustria, Amedeo Scarpa, Trade Commissioner in the United Arab Emirates at ITA, s’ meets in the Dubai branch of ECI with Saed Al Awadi, CEO, Dubai Exports and Chairman of ECI Executive Committee, Jamal Saif Al Jarwan, Secretary General, UAEIIC, and Massimo Falcioni, CEO of ECI, as well as senior officials of the participating entities.

The main agenda of the meeting focused on identifying joint strategies to boost trade and investment opportunities between the two countries. It also strengthens the long-standing relationship the UAE and Italy share through the exchange of knowledge and economic expertise to promote business opportunities and help local investors establish or expand their operations in the phase. post-Covid.

The meeting also reviewed the latest updates regarding the existing partnerships between the public export credit agencies of the two countries. In October 2018, ECI and SACE SIMEST signed a Memorandum of Understanding (MoU) at the Italian Ministry of Economic Development (MISE) in Rome, followed by a reinsurance agreement to support Italian companies operating in the United Arab Emirates, signed in April 2019 in Dubai.

With this agreement, Italian companies and their subsidiaries active in the UAE were able to protect their activities, mitigate risks and concretely improve the management of financial flows.

Saed Al Awadi said: “The United Arab Emirates and Italy have always enjoyed a strong business relationship over the years, and this strategic meeting reflects the desire of both countries to strengthen the competitive advantage of our respective business lines. on international markets. “

Jamal Saif Al Jarwan said, “The two countries’ trade relations have remained resilient despite the impact of the pandemic on the global economy. We owe this dynamism to the joint efforts of governments to support and adopt initiatives aimed at protecting the interests of local investors abroad. This meeting is also a crucial step in building the confidence of UAE-based companies as they undertake to access the Italian market. “

Carlo Ferro said: “The traditional friendship and trade relations between our two countries push us to improve our relations more and more, both through deeper knowledge and through the implementation of synergies and partnerships and the sharing of best practices, to promote the excellence of Italian products and services.

WAM


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