Etihad Credit Insurance partners with RAKEZ to boost Ras Al Khaimah’s non-oil foreign trade

Etihad Credit Insurance (ECI), the UAE Federal export credit company, has partnered with Ras Al Khaimah Economic Zone (RAKEZ) to support the emirate’s path towards economic diversification by stimulating its non-oil foreign trade.

The Memorandum of Understanding (MoU) came as part of ECI’s continuing effort to support Ras Al Khaimah’s strategy to boost its burgeoning export activities. As of November 2022, ECI has facilitated Dh261 million worth of secured non-oil trade for businesses operating in the emirate.

The agreement was signed by Ramy Jallad, Group CEO of Ras Al Khaimah Economic Zone, and Massimo Falconi, CEO of Etihad Credit Insurance.

Jallad stated: “This partnership will ramp up our efforts to position Ras Al Khaimah a leading global investment destination and make export activities an engine of its economy. This move to support the businesses operating in RAKEZ will likewise advance the emirate’s industrial strategy and improve the brand value of UAE-made products across the globe.”

Falconi said: “This partnership will open up excellent opportunities to promote the culture of entrepreneurship in the emirate, by giving them better access to state-backed trade finance support. On the other hand, will also contribute directly to the sustainable development of the UAE economy while exploring and benefiting from new growth markets.”

RAKEZ equips entrepreneurs, start-ups, SMEs and manufacturers with an exceptional range of business solutions, comprising free zone and non-free zone licences, customisable facilities, and advanced services provided in a one-stop shop.