Etihad Credit Insurance (ECI), the UAE Federal export credit company, and its Indonesian counterpart PT Reasuransi Indonesia Utama (Persero) or Indonesia Re have signed a reciprocal reinsurance agreement to bolster their bilateral trade and expand their collaborative initiatives across the globe by fostering sustainable and inclusive economic development and corporation.
Under the agreement, ECI and Indonesia Re decided to join hands to reinforce the trade and economic cooperation by helping domestic companies of the respective countries grow overseas. The agreement aims to build stronger collaboration between the two friendly nations by protecting businesses that want to venture into new markets from political, commercial, and non-commercial risks. The two state-owned institutions will make it easier for these companies to access liquidity and funds to pursue their international expansion. They will also support domestic enterprises in several growth sectors with innovative trade finance products, including ECI’s unique Shariah-compliant finance solutions, ECI Islamic.
Indonesia, which holds the G20 presidency, will pay great attention to the issues of digitalization and energy transition in order to ensure the availability of clean technology that is affordable for all; address the issue of inclusive finance–particularly for micro, small, and medium-sized enterprises (MSMEs), women, and marginalized groups; and foster investment for the green and sustainable economy.
(Source: EIN Presswire)