United Arab Emirates Federal Export Credit Company has announced that it has signed a strategic partnership agreement with EGAP Export Assurance and Insurance Company.

According to Amac News: This agreement is intended to provide bilateral reinsurance obligations and insurance facilities to the companies of the United Arab Emirates and the Czech Republic. Help promote bilateral trade between the two countries in the next phase.
The agreement was signed by Abdallah Bin Tuq Al Mari, Minister of Economy and Chairman of ECI Board of Directors and David Havlicek, Chairman of EGAP Board of Directors.
"The UAE enjoys a growing and developing economic relationship with the Czech Republic, where the two countries have been successful in their joint efforts to establish sustainable and diversified partnerships and agreements in many economic and investment sectors," said Bin Tuq.
This agreement promotes the creation of new economic prospects between the exporting community of the two countries and helps to strengthen the common economic relations, thereby supporting the establishment of the United Arab Emirates as a global partner and an attractive and influential economic center by this country.
The agreement calls for strong cooperation on a wide range of tasks, such as addressing risks related to public and quasi-public debtors, exploring innovative ways to improve flexibility for private sector debtors, and providing insurance facilities for export contracts.
In addition, this agreement lays a solid foundation for bilateral cooperation in areas of common interest, which is beneficial to the export industry and foreign trade of both countries.
This contract shows the strong commitment of Etihad Credit Insurance to increase cooperation with export credit agencies. In the past few years, Etihad Credit Insurance has successfully concluded about 21 cooperation agreements with government export credit agencies around the world.
EGAP is a specialized state-owned credit insurance company that focuses on insuring non-marketable commercial risks associated with the export of goods and services from the Czech Republic.
The main focus of this company is to provide bank loans with a maturity of more than two years in order to finance the export of energy, machinery, technological systems, investment projects and transportation constructions.