Officials at the signing ceremony.
Etihad Credit Insurance (ECI), the UAE Federal credit insurance company, has signed a Memorandum of Understanding (MoU) with Sharjah Chamber of Commerce and Industry (SCCI) to support the non-oil sectors, especially the thriving manufacturing sector as well as Sharjah-based SMEs and exporters.
The partnership highlights the commitment of both ECI and SCCI in enhancing the growth and development of the UAE’s non-oil sectors, as support to the country’s non-oil diversification strategy.
The MoU was signed by Mohammed Ahmed Amin, Acting Director General of SCCI, and Massimo Falcioni, CEO of ECI, in the presence of HE Abdullah Sultan Al Owais, Chairman of the Board of Sharjah Chamber of Commerce and Industry (SCCI), HE Raghda Taryam, Board Member and Abdulaziz Shattaf, Assistant Director-General for Members Services at SCCI.
The areas of focus of the partnership include organising seminars, training programmes and workshops about the benefits of trade protection solutions; offering keen market insights that highlight commercial and political risks; facilitating referrals channel to ECI; as well as promoting ECI’s trade credit solutions across SCCI’s channels.
Sharjah’s commercial appeal contributes to the economic growth of both the emirate and the UAE. Across Sharjah’s industries, manufacturing remains amongst the most significant sources of the emirate’s annual GDP with its contribution estimated at approximately 19 per cent. Additionally, it has been estimated that over 48 per cent of UAE’s gross industrial output comes from Sharjah’s 19 industrial areas.
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The decision aims at enhancing the balance between the two sectors and supporting the national economy in its various fields.
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