• ECI concludes its pivotal participation at the globally renowned ADIPEC 2023
  • The company showcased its commitment to sustainable advancements, fortifying the UAE’s position in global energy innovation.
  • Significant MoUs were signed with the Ministry of Industry and Advanced Technology and the Abu Dhabi Chamber of Commerce and Industry to further the nation's non-oil diversification goals.
  • In collaboration with the Ministry of Industry and Technology, the company commits to offering incentives and supportive measures valued at 1.4 billion dirhams for 2023, encompassing green insurance and secure investments tailored for emerging small and medium-sized enterprises.

Abu Dhabi: Etihad Credit Insurance (ECI), the UAE Federal export credit company, has concluded its participation in the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2023), which was held under the patronage of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates. ADIPEC 2023, the world's largest energy industry gathering, was hosted by ADNOC in Abu Dhabi from 2 to 5 October under the theme 'Decarbonizing. Faster. Together.'

ECI's presence at the event highlighted its commitment to sustainable advancements and demonstrated its role in fortifying the UAE's position as a global hub for energy innovation and industrial transformation to more than 160,000 participants from 164 countries.

With over 15,000 delegates and more than 1,600 high-profile speakers, ECI's booth served as a focal point for industry leaders and partners seeking insights into the company's offerings. This platform showcased ECI's unwavering dedication to protecting businesses from credit risks and highlighted its continued support for national initiatives, such as 'We the UAE 2031', reflecting the company's deep-rooted allegiance to the UAE's progressive economic vision.

Strengthening its collaborative efforts at ADIPEC 2023, ECI renewed two significant partnerships. Firstly, in the presence of His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology (MoIAT), and His Excellency Abdullah bin Touq Al Marri, Minister of Economy and Chairman of the Board at ECI, ECI renewed its Memorandum of Understanding (MoU) with the Ministry of Industry and Advanced Technology. The MoU was signed by H.E. Omar Ahmed Suwaina Al Suwaidi, Undersecretary of MoIAT, and H.E. Raja Al Mazrouei, CEO of ECI, and it offers innovative incentives and enablers to enhance industrial sustainability, investment attractiveness, and competitiveness. The partnership aims to introduce green insurance and secure investments for start-ups as well as small and medium-sized enterprises (SMEs). Additionally, ECI is committed to delivering a total of 1.4 billion dirhams for 2023. These initiatives encompass green insurance and secure investment opportunities tailored to support SMEs.

In another pivotal move, ECI solidified its commitment by signing an MoU with the Abu Dhabi Chamber of Commerce and Industry (ADCCI) to enhance Abu Dhabi's export, SME, and manufacturing sectors in sync with the UAE's non-oil diversification goals. In the presence of H.E. Abdullah bin Touq Al Marri, Minister of Economy and Chairman of the ECI Board of Directors, and His Excellency Abdulla Mohamed Al Mazrui, Chairman of the Abu Dhabi Chamber. The MoU was signed by H.E. Raja Al Mazrouei, CEO of ECI and H.E. Ahmed Khalifa Al Qubaisi, CEO of ADCCI, to further support Abu Dhabi's non-oil sectors by integrating ECI's innovative solutions and ADCCI’s business development endeavours, offering export credit insurance to Abu Dhabi’s exporting community and setting the stage for a sustainable economic future in Abu Dhabi.

During the event, the CEO of ECI actively contributed to the event's dialogue through a strategic roundtable meeting organised by the Ministry of Industry and Advanced Technology that brought together representatives of UAE government entities and leading energy and manufacturing industry companies from the UAE and Germany, to discuss future investment opportunities and cooperative strategies to drive energy transition. Furthermore, H.E. Raja Al Mazrouei participated in a strategic discussion titled “Financing Industries of the Future: the role of SMEs in driving economic progress.” During this session, H.E. Al Mazrouei highlighted the vital contributions of small and medium enterprises and their pivotal role in steering economic advancement in the Fourth Industrial Revolution era.

Her Excellency Raja Al Mazrouei, CEO of ECI, remarked, “The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2023) serves as an ideal platform for knowledge exchange and strengthening collaboration with our local and international partners. The event presents an opportunity to address challenges and opportunities to sustainable industry and trade while aligning with the nation's economic diversification strategy. Through our presence, Etihad Credit Insurance highlights a suite of innovative export credit solutions to augment the industrial sector’s contribution to the national GDP and bolster its stature regionally and globally.”

In 2022, ECI significantly supported the UAE's non-oil trade, which achieved record growth that exceeded AED 2.2 trillion by year's end. The company's strategic initiatives included the value of non-oil insured turnover of AED 14.4 billion and underwritten exposure worth AED 8.1 billion. These vital measures spanned 16 sectors and reached 106 countries, fostering international collaboration with key partners.

About Etihad Credit Insurance 

Etihad Credit Insurance (PJSC) was established by the UAE Federal Government and its founders, the governments of Abu Dhabi, Dubai, Ras Al Khaimah, Fujairah, and Ajman. The company started its operations in February 2018. ECI plays a catalyst role in supporting the UAE's non-oil exports, trade, investments, and strategic sector development in line with UAE Vision 2031 agenda.  The UAE Federal Export Credit Company is tasked to accelerate and sustain national economic diversification by supporting the export and re-export of UAE goods, works, services, and foreign investments of the UAE businesses, as well as support the exporters in the domestic trade through a range of export credit, financing, and investment insurance products. In 2023, for the fifth consecutive year, ECI was awarded an Insurance Financial Strength (IFS) Rating and an Issuer Default Rating (IDR) of AA- (Very Strong) with a Stable Outlook, as per Fitch Ratings.