United Arab Emirates and France sign reinsurance agreement

Attended the signing ceremony Massimo Falcioni, CEO of ECI; François Lefebvre, Managing Director of Bpifrance Assurance Export; and Pedro Novo, executive director in charge of export at Bpifrance.

The two ECAs will explore opportunities in insurance, reinsurance and coinsurance services for the export of goods to third countries. They will also work together to identify companies that could benefit from the deal and promote the deal to existing and potential customers.

“The United Arab Emirates and France have always shared exceptional trade relations and, in recent years, these bilateral relations have experienced a significant leap,” Falcioni said. “The new agreement follows the memorandum of understanding that ECI and Bpifrance Assurance Export signed in June 2020 to explore, strengthen and improve commercial and economic cooperation between France and the United Arab Emirates. This agreement underscores ECI’s commitment to continuous improvement and to forge alliances to help provide much-needed incentives for businesses and exporters. This cooperation will go a long way in helping UAE and French exporters access international markets, protect their cash flow and provide guarantees to their lenders, thereby strengthening their presence in the global market. “

The United Arab Emirates are France’s second largest trading partner in the Middle East. Since 2007, the two countries have held annual meetings to strengthen bilateral relations. Non-oil foreign trade between countries amounted to AED 19.7 billion (SG $ 7.28 billion) in 2020, and bilateral trade between Dubai and France increased to AED 8.5 billion in the first half of 2021, according to data from the UAE ministry. of Economy.

“We look forward to strengthening our collaboration with ECI,” said Novo. “We believe that this partnership will strengthen France’s commercial ties with the United Arab Emirates and make a significant difference for our respective companies, in particular SMEs, by facilitating access to the wide range of export credit solutions offered. by the two OCEs.

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