UAE - Mubasher: The Jebel Ali Free Zone (Jafza), the UAE-based business and logistics hub, has reached a strategic agreement with Etihad Export Credit Insurance Company (ECI) to support local businesses and the UAE economy amid the coronavirus (COVID-19) pandemic.

Under the agreement, companies licensed by Jafza will benefit from the ECI's export insurance services to boost the UAE's position as a global hub for exports, according to a press release on Monday.

Both entities will also cooperate in expanding and diversifying the UAE economy, easing financial pressure posed by COVID-19, and enabling the members to explore export opportunities in foreign countries.

In addition, seminars and workshops will be organised to highlight the importance of the ECI's trade protection solutions and trade credit insurance, surety bonding, and trade finance solutions.

The CEO & Managing Director of DP World UAE Region and CEO of Jafza, Mohammed Al Muallem, said: "This move will increase cash flow, enable world trade, and contribute towards long-term growth. We aim to provide support to companies licensed by Jafza, and assist them to navigate these uncertain times."

The CEO of ECI, Massimo Falcioni, remarked: "ECI remains keen to boost diversification and ensure that the UAE economy thrives in a post-oil era, and our tailored solutions offer protection from risks and business continuity during such unprecedented times."