In splitting the prize money among 11 people, there would be some maths involved because some pitched in Dh50, others Dh100, and a few gave Dh200
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Abu Dhabi Exports Office (ADEX) has launched a national campaign to help business leaders use financial products and services to rebuild global export business and help the economy recover from the Covid-19 crisis.
ADEX, formed in 2019 by Abu Dhabi Fund for Development to help drive expansion of UAE export businesses and advance national economic diversification, is working to establish partnerships with Departments of Economic Development and Chambers of Commerce across all emirates.
Together they will co-host a series of forums educating UAE export business leaders on how to use the ADEX suite of export credit facilities.
The move will help the UAE's export community to be more competitive in the global marketplace while safely and securely expanding into international markets, where overseas buyers have limited access to traditional commercial financing in the current Covid-19 economic environment.
Mohammed Saif Al Suwaidi, Director General of ADFD and Chairman of the ADEX Export Executive Committee, said: "This is not only a difficult time for UAE exporters, but it's also a challenging time for their overseas buyers. Both are dealing with liquidity and cash flow issues, delayed supplier payments and limited access to financing. ADEX provides a solution to these challenges that enables both the exporter and foreign importer to quickly and easily fund mutually beneficial transactions."
ADEX has allocated Dh550 million ($150 million) in funding for qualifying export transactions of national companies that is immediately available to support Covid-19 economic recovery.
ADEX is currently working with other Chambers of Commerce and government partners across the emirates to schedule additional education forums to ensure all UAE companies know how to access its financial products and services. Details of those forums will be shared as soon as events are scheduled. - business@khaleejtimes.com
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