Emirates Steel has named Etihad Credit Insurance (ECI) as its credit insurance partner to provide export credit protection to its global exports.
The UAE-based industrial conglomerate has signed an agreement with ECI for a comprehensive trade credit insurance package, to receive protection against commercial risks and easy access to loans from banks, to further increase its funding capacity.
Commenting on the appointment, chief executive officer of ECI, Massimo Falcioni, said: “We are resolved to providing an outstanding level of service in line with Etihad Credit Insurance’s highest standards. ECI’s support to Emirates Steel is a testament to our mission to boost the competitiveness of the UAE’s trade and export businesses as they compete in international markets. In increasing their volume of exports, we are also accelerating and sustaining national economic diversification.”
Speaking about the agreement, chief executive officer of Emirates Steel, Saeed Ghumran Al Remeithi, said: “Emirates Steel exports its manufactured products to more than 40 countries across the world, helping the UAE to position itself as a regional and global pioneer in producing high-quality steel products. This collaboration with ECI will significantly protect our exports against commercial risks,” UAE’s state-run news agency Wam reported.