DUBAI, November 4, 2021 (WAM) – Etihad Credit Insurance and Indonesia Re, Indonesia’s public reinsurance agency, have signed a memorandum of understanding to boost bilateral exports and investment through their credit insurance , their reinsurance and guarantees.
The MoU was signed by Benedictus Mulyawan Waworuntu, CEO of PT Reasuransi Indonesia Utama and Massimo Falcioni, CEO of federal company Etihad Credit Insurance.
Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and Vice Chairman of the Board of Directors of ECI and Kartika Wirjoatmodjo, Deputy Minister of State Enterprises of Indonesia, attended the signing with a number of senior officials from both countries.
Indonesia, which has the largest economy in Southeast Asia, is one of eight countries with which the United Arab Emirates is seeking trade deals under the âProjects of 50â.
Commenting on the agreement, Dr Al Zeyoudi said: âThe United Arab Emirates regards Indonesia as a vital strategic partner and this agreement will be an important force in creating new opportunities, attracting FDI, boosting trade and exports and accelerate the global economic recovery. like this will enhance sustainable development and fuel the growth of the UAE’s knowledge-based economy. ”
At the same time, Wirjoatmodjo said, âIndonesia and the United Arab Emirates have a long history of remarkable trade and relationship. With this agreement, we are pleased to strengthen these ties by collaborating with Etihad Credit Insurance in the field of credit insurance and reinsurance. help us achieve our goals by developing more export markets for Indonesian companies. ”
Under this agreement, ECI and Indonesia Re will work to facilitate trade and exports between the United Arab Emirates and Indonesia; facilitate the access of SMEs and midcaps to financing; and use Sharia-compliant insurance and financing solutions to expand halal commerce.
The two organizations will also work together to strengthen trade relations between the two countries; provide information on current and potential new projects; explore insurance, reinsurance and coinsurance opportunities for export and investment; explore debt collections to be collected in Indonesia or the United Arab Emirates; and share expertise and best practices in commercial underwriting, risk management, country assessment, claims and collections. ECI and Indonesia Re will also support strategic economic sectors such as steel and aluminum, ceramics, renewable energy, mechanics and waste management industries.