Etihad Credit Insurance (ECI) has signed a memorandum of understanding (MoU) with HSBC to provide letters of credit (L/Cs) amongst a range of trade export finance and insurance solutions to give the country's exporters a platform for sustainable growth and development over the long term.

This collaboration between the UAE's export credit agency and HSBC underlines ECI's purpose to provide the country's exporters with risk management solutions that help them expand trade regionally and internationally.

Focus areas

The MoU envisages a partnership that will focus on L/C confirmations, bond support, trade credit insurance and corporate financing.

The partnership would also facilitate exchanges of industry trends and market insights and provide workshops and forums.

Export growth

The MoU was signed by ECI's chief executive officer, Massimo Falcioni, and CEO of HSBC Bank in the UAE and head of international markets in the Middle East, Abdulfattah Sharaf.

Falcioni says ECI's collaboration with HSBC will particularly help the export credit agency's key objective to promote sustainable growth and development of the country's non-oil sectors and enhance the export reach of UAE goods and services.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.