While the VAE redesigns its global trading samples, Etihad Credit Insurance (ECI) plays a crucial role in the enabling of local companies to scale new heights. Your excellence Raja al MazroueiChief Executive Officer from ECI, such as leadership, innovation and sustainability, shape a future economy, with SME and non-oil exports essentially.
In a world that is characterized by fast technological disorders, developing economic landscapes and the tightening of climate problems, the connection between leadership, innovation and sustainability was never more critical. Nowadays, progress is not only measured in SPIP or Bottom-line growth, but also in the resistance, inclusiveness and future of companies.
This applies in particular to the VAE, where visionary leadership and long-term national strategies as the VAE Centennial 2071 and NET zero redefine by 2050-the progress. From its modest beginnings as an oil-dependent economy to its current position as a global trade and logistics center, VAE has shown an extraordinary ability to adapt, diversification and lead.
Central to this development, the country's commitment is to strengthen local corporate company-in-house and medium-sized companies (SMEs) through strategic partnerships and future infrastructure.
The Federal Export Credit Company in the United Arab Emirates, Etihad Credit Insurance (ECI), is the focus of this mission and serves as an important enabled for companies that are willing to explore international markets. By improving the global competitiveness of our companies, ECI not only accelerates the expansion of non-oil exports, but also the position of the VAE as a dynamic, diversified economic power plant.
The VAE economic model: a blueprint for diversification
The courageous transition of the United Arab Emirates of hydrocarbon dependency from a diversified, knowledge -based economy is proof of its adaptive political decision and proactive investments in future industries. Due to the strong investment in sectors such as renewable energies, advanced technology, logistics, manufacturing, healthcare and financial services, the nation determines the structural foundations of long -term resilience.
Geographically located on the crossroads from east and west, the VAE uses its strategic location to serve as a goal for global trade. His first -class ports, free zones, airports and multimodal logistics corridors are among the most demanding in the world and enable the seamless movement of goods and services. The addition of these assets is a business -friendly regulatory environment with progressive tax incentives and optimized customs procedures that make it easier for entrepreneurs and global investors to set up and scale their business.
The rapidly pre-inducing digital infrastructure and state-managed digital transformation initiatives of the country further improve the competitive advantage and offer a smooth commercial ecosystem that is ready for the digital economy. This holistic approach underlines the commitment of the VAE to build an agile and sustainable economy that lives from innovations.
These initiatives have tangible results. The VAE non-oil outer trade is on the right track to exceed Aed4TN within two years, far before the original destination of 2031. In the first quarter this year alone, non-oil trading increased by 18.6%and reached 835 billion AED over the global average. It is even more striking that the exports of non-oil exports have increased by an impressive 41% compared to the previous year, which reflects the success of the diversification strategy of the VAE and the vitality of its retail companies.
SME in the heart of global trade
SMEs make up more than 94% of the companies working in the VAE and contribute around 52% to non-Oil BIP, which underlines their central role in economic growth, innovation and employment. These companies are not just economic contributors. They are the incubators of new ideas and the engines of adaptability in an increasingly insecure world.
In order to facilitate SMEs in its global expansion efforts, the United Arab Emirates government has initiated various initiatives for export promotion and commercial broker programs. Companies such as ECI offer SMEs of innovative credit solutions, enable easy access to financial resources, offer expert market knowledge and promote strategic cooperation. Through joint efforts with national financial institutions such as Emirates Development Bank and First Abu Dhabi Bank (FAB), ECI promotes integrative economic growth and enables VAE companies to thrive in an increasingly complex global trading environment.
XPORT XPONETIAL: Catalyze the global expansion
In order to further accelerate SME participation in international markets, ECI launched Xport Xponential last year, a comprehensive program to support companies in the VAE. Since its foundation, the program has already made it easier to finance AED174 million through strategic cooperation with leading banks, including FAB, Commercial Bank of Dubai, Ajman Bank and Al Maryah Community Bank.
At its core, the program serves as a comprehensive trading platform that offers the participants access to a number of advantages. This includes innovative commercial credit and financial solutions that have been developed in cooperation with leading financial institutions as well as tailor-made strategic advice and risk management services.
In addition, it offers companies access to a global database of over 400 million companies, so that the participants can identify and combine potential buyers, partners and importers worldwide. In addition, the participants have special access to markets according to the comprehensive economic partnership agreements of the VAE, including reduced tariffs and optimized customs procedures.
Innovation as a driver for sustainable trade
If the global economy becomes more digital and climatic, innovation becomes a critical pillar for the competitiveness of trade. The United Arab Emirates fully use this shift by using a trading model with digital first case, using artificial intelligence, data platforms and intelligent infrastructure to rationalize the process, improve transparency and enable predictive decisions.
The ECI's own digital transformation is matched with this vision and offers customers an intuitive platform to access insurance, pursue risks and get real-time insights into global markets. The company was the first company for the insurance sector to join the Kyc Blockchain platform, an initiative, which was led by the Dubai Department of Economy and Tourism. This milestone aims to improve simple business processing, to improve the KYC compliance and to improve the quality of customer data and at the same time to promote the growth of the platform as a trustworthy digital ecosystem.
In addition, the company is pioneering air -conditioned insurance products and supports environmentally friendly financing mechanisms in order to accelerate the transition to environmentally friendly trade.
The role of the United Arab Emirates as the host of COP28 and his leadership in the further development of environmental, social and governance principles (ESG) in the region signal a clear direction: trade must develop in order to be more sustainable, integrative and effective. And institutions such as ECI contribute to translating this vision in action by incorporating sustainable business practices and providing the tools for measuring and management of the ESG performance via value chains.
Look ahead: Vision 2031 and beyond
The national development agenda of the United Arab Emirates is brave through brave ambitions such as “Operation 300 billion”, which supports the country's industrial grasp, and “We The VAE 2031”, a strategy for positioning the VAE among the ten most important economies in the world. In this transformative context, the ECI plays a crucial role by driving non-oil exports and picking up the trip of the United Arab Emirates companies into global markets.
As part of his mandate to increase the non-oil outer trade to 800 billion AED, the ECI expands its offers and closes stronger partnerships in the local and international landscape. Regardless of whether it is carried out by co -insurance programs, initiatives for capacity structure or through innovation in credit solutions in the credit solutions, the organization enables companies to work with greater trust and less risk.
With regard to the future, the integrated approach in the lead, innovation and sustainability of the VAE will not only serve as a blueprint for national resilience, but also as a beacon for other economies that want to thrive in view of the global complexity. This model of the combination of economic development with social progress and environmental responsibility offers a convincing path for the nations that navigate the challenges of the 21st century.
Strengthening companies through innovation and strategic cooperation is the key to building up resistant economies that go beyond the borders.