1 July 2024 – Abu Dhabi, UAE: The Abu Dhabi Chamber of Commerce and Industry signed a cooperation agreement with the Abu Dhabi Exports Office (ADEX), the export financing arm of Abu Dhabi Fund for Development (ADFD). The agreement aims to support investors to increase national export rates and enter and compete in global markets.
The signing of the agreement aligns with both parties’ efforts to solidify the UAE’s position on the global trade map and encourage companies to increase exports and explore new markets. This supports Abu Dhabi government’s strategy for economic diversification and sustainable development.
In the presence of His Excellency Mohamed Saif Al Suwaidi, Director General of ADFD and Chairman of the Exports Executive Committee of the Abu Dhabi Exports Office, and His Excellency Masood Rahma Al Masaood, Treasurer of the Abu Dhabi Chamber, the agreement was signed by His Excellency Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber, and Khalil Fadel Al Mansoori, Director General of ADEX, during a workshop hosted by the Chamber titled “ADEX Role in Supporting UAE Exports”. Representatives from business sectors and private companies operating in Abu Dhabi were present as well. The workshop informed attendees about the direct and indirect financing solutions, tools, and services provided by ADEX, and how to benefit from them. This supports manufacturers to reach global markets and protects them from non-payment risks.
His Excellency Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber, said: “The cooperation agreement with the Abu Dhabi Exports Office reflects our commitment to developing and organizing commercial affairs in the Emirate, advancing them, and continually providing an attractive investment environment. We aim to open new markets for investors and owners of small and medium-sized enterprises. This partnership will also support our efforts to develop the national industrial sector and support entrepreneurs and national startups by offering the best financing solutions for vital projects. This, in turn, will advance the national economy, enhance the rates of national exports, and expand their global reach.”
His Excellency Mohamed Saif Al Suwaidi, said: “The cooperation agreement signed with the Abu Dhabi Chamber of Commerce and Industry will create new opportunities for cooperation to develop the UAE’s industrial sector and increase its contribution to the GDP.”
He reaffirmed ADEX’s commitment through providing financing solutions that would enable Abu Dhabi Chamber members to grow their exports. “This will support the strategic goals of strengthening the national private sector, enhancing the competitiveness of Emirati companies, facilitating their access to international markets, and increasing their global presence,” he pointed out.
Under the agreement, the Abu Dhabi Chamber will cooperate with ADEX to review the requests of investors and companies seeking financing solutions. This includes providing financing and guarantees to foreign importers including foreign private sector companies that wish to import Emirati goods and services, thereby contributing to increasing the rates of national exports and opening new markets for them.
As part of the agreement, the two parties will cooperate to organize training programs and joint events, such as seminars, lectures, conferences, and workshops related to foreign buyer financing in order to enhance the competitiveness of local companies in exports and global expansion and shed light on the services provided by ADEX.
Additionally, the two parties will consolidate efforts and coordinate on joint initiatives and projects related to entrepreneurship and exports in Abu Dhabi. They will also explore the possibility of providing tools and programs to finance national exports.
