Prague: Etihad Credit Insurance (ECI) has renewed a strategic Memorandum of Understanding (MoU) with Export Guarantee and Insurance Corporation (EGAP), its Czech counterpart, to enhance cooperation in export credit insurance and trade support. The agreement aims to facilitate cross-border trade, attract foreign investment, and create new business opportunities for companies in both the UAE and the Czech Republic.
According to Emirates News Agency, the MoU was signed by Raja Al Mazrouei, CEO of ECI, and David Havlcek, Chairman of the Board of Directors and CEO of EGAP, during the TXF Global 2026 event in Prague. The renewed agreement aligns with ECI's vision of supporting the UAE's economic diversification and export-led growth, contributing to the 'We the UAE 2031' vision. This vision seeks to position the UAE as a global hub for trade and investment, specifically aiming to boost the country's non-oil exports.
The new agreement builds on the successful partnership between ECI and EGAP, providing a comprehensive framework for enhanced cooperation in export credit insurance. This includes protection against commercial and non-commercial risks, export financing, SME support, and the exchange of market intelligence and country risk information. The collaboration also involves joint seminars, workshops, and events designed to support exporters in both countries and explore opportunities in third-country markets.
Raja Al Mazrouei expressed that the renewal of the partnership with EGAP underscores a shared commitment to supporting exporters and facilitating international trade. The focus on strengthening economic ties between the UAE and the Czech Republic is expected to create new opportunities for businesses to expand into global markets confidently. This agreement is integral to ECI's mission of advancing the UAE's economic diversification goals and fostering sustainable growth for UAE-based businesses.
David Havlcek highlighted the attractiveness of the UAE market for Czech companies, especially those in the ICT sector. He emphasized that financing and insurance support will play a crucial role in enhancing trade relations. With EGAP's assistance, Czech companies have successfully exported products like radio communication systems and construction technologies to the UAE in recent years.
The renewed MoU is significant as it coincides with ongoing efforts by both nations to strengthen economic cooperation through the UAE-Czech Joint Economic Committee. This committee aims to expand collaboration across trade, investment, and knowledge exchange, with bilateral trade showing growth, including Czech imports from the UAE amounting to AED 886.10 million in 2025.
The partnership will enhance the exchange of market intelligence and information between ECI and EGAP. It will also improve support for exporters through greater access to export credit insurance and risk mitigation solutions. Furthermore, the agreement will facilitate collaboration in third-country markets and promote deeper engagement through joint workshops and knowledge-sharing initiatives, helping businesses grow globally.
Additionally, the cooperation will explore opportunities to support SMEs by providing insurance and financing solutions that enable them to expand their international presence.