The United Arab Emirates federal insurance firm, Etihad Credit Insurance, has signed 3 strategic Memoranda of Understanding with the Industrial and Commercial Bank of China (ICBC), China Export & Credit Insurance Corporation, SINOSURE, and the Bank of China targeted at boosting investments, trade, and bilateral exports between China and the United Arab Emirates.
These partnerships will be strengthening the position of Etihad Credit Insurance in the global market, as well as, create more opportunities which both countries will generate in terms of trade and investments.
The signing of the agreement took place during the China-UAE Economic Forum held in Beijing on 22nd of July, 2019, as part of the 3-day state visit of Crown Prince of Abu Dhabi, His Highness Sheikh Mohamed Bin Zayed Al Nahyan, and Deputy Supreme Commander of the United Arab Emirates’ Armed Forces to China.
The Economic Forum, rejoicing 35 years of close relationships between China and the United Arab Emirates, was led by Sultan Bin Saeed Al Mansouri, Minister of Economy, as well as, Deputy Chairman of the Etihad Credit Insurance’s Board of Directors, & China’s Minister of Commerce, Zhong Shan.
The Memoranda of Understanding were signed on separate ceremonial occasions by Massimo Falcioni, the Chief Executive Officer of Etihad Credit Insurance, with General Manager of International Department Huang Shan, SINOSURE, Zhang Junguo, General Manager, ICBC Dubai Branch; & Zhou Jianjun, the General Manager of the Bank of China’s Dubai Branch; & witnessed by Doctor Ali Obaid Al Dhaheri, the Ambassador of the United Arab Emirates to the People’s Republic of China, & other senior officials from the organizations.
Both countries will be collaborating in the areas of insurance & co-insurance, credit opinion-sharing and commercial information, trade promotions Shariah-compliant solutions, international investments, and SME programs, according to the agreement with SINOSURE.