UAE export agencies to host major international forum to drive FDI

Dubai Exports, in partnership with the Abu Dhabi Exports Office and Etihad Credit Insurance, will co-host the forum on July 21

Abu Dhabi Port’s industrial and economic zones now have a combined land area of 554 square kilometres as a result of its merger with ZonesCorp. Khushnum Bhandari for The National

The export offices of the emirates of Abu Dhabi and Dubai will co-host a major international buyers' forum in an effort to boost the country’s export economy and attract more foreign investment.

Dubai Exports, in partnership with the Abu Dhabi Exports Office (Adex) and Etihad Credit Insurance (ECI), said it will connect local exporters and international buyers at an event on July 21.

"Dubai Exports is activating on-the-ground resources from its 24 international offices to invite buyers to join in the UAE’s first significant international trade promotion event since the global lockdown,” the agencies said in a statement on Wednesday.

Participating companies will have the opportunity to learn about the full range of financial support services and credit facilities available to buyers through Adex and ECI.

"We are leveraging the full resources of the UAE national export community to help ensure Dubai exporters and their foreign buyers keep goods and services flowing across our borders to continue to stimulate economic recovery and long-term growth,” Dubai Exports chief executive Saed Al Awadi said.

The forum will allow business leaders to “access and most effectively leverage the power of Adex and the entire export support network to enter new markets [and] expand their businesses”, Adex acting director general Saeed Al Dhaheri said.

Adex, which was created in 2019 by the Abu Dhabi Fund for Development, provides buyers with direct financing and credit guarantees to import goods and services from UAE firms.

Earlier this year, the agency allocated Dh550 million in funding to qualify export transactions of national companies. The funding programme allows Adex to provide loans to qualified foreign buyers through payments made directly from the agency to UAE exporters, thereby lowering their risk of delayed payments or non-payment.