Financial services and solutions discussed to boost UAE exports

Business Bureau, Gulf Today

The Sharjah Chamber of Commerce & Industry (SCCI), recently organised a joint webinar with the Abu Dhabi Exports Office (ADEX) of Abu Dhabi Fund for Development, titled ‘Financial Services and Solutions for the Development of the UAE export companies.’

The event comes as part of the bilateral memorandum of understanding (MoU) which aims to enhance joint cooperation and to join efforts to help national companies from the SCCI members to expand its export operations and access new markets, through the utilisation of financing services and guarantees offered by ADEX.

The webinar was attended by Mohammad Ahmed Amin Al-Awadi, SCCI Director-General, and Saeed Al Dhaheri, Acting Director-General of ADEX, and Abdul Aziz Shattaf, SCCI Assistant General Director, Members Services Sector and Director of Sharjah Exports Development Center, and with the participation of a host of UAE companies and factories operating in the Emirate of Sharjah.

The webinar touched on introducing the services and activities of ADEX and how to make use of the financing services and guarantees to develop the exports of the UAE companies and help them compete in global markets,

It also highlighted the Dhs550 million allocated by ADEX in 2020 to help finance the export contracts of the UAE companies and how to make use of the financial solutions and services provided by ADEX, as an effective strategic tool that enables the UAE companies to develop and expand their businesses and overcome obstacles and challenges facing them in providing cash liquidity.

A step forward towards more programs and initiatives

Commending the ADEX’s role in supporting and empowering the UAE companies and helping them overcome COVID-19 repercussions towards further business growth and sustainability in the long term, Mohammad Ahmed Amin Al-Awadi, SCCI Director-General, pointed out the webinar is a step forward towards more programs and initiatives according to the bilateral MoU.

This would help the national companies strengthen their competitiveness in the international markets and increase their exports to support the sustainable economic growth and diversify sources of income, as a national necessity that develops more innovative and proactive solutions to consolidate the successful economic policies in the UAE.

“The SCCI strives to provide all the support to the local private sector through innovative programs and initiatives to help them achieve the best positive returns and access to innovative business models that improve their services and activities, as this would help enhance the performance of Sharjah’s economy and the business community. Also, the Chamber is keen to promote the UAE’s and Sharjah’s investment benefits by highlighting their attractive environment and the facilities provided by the Chamber to investors in innovative ways consistent with the current situation,” he noted.

Praising the effective cooperation between ADEX and SCCI, Saeed Al Dhaheri said this webinar is part of the national campaign objectives to help business owners and UAE companies leverage ADEX’s financial solutions and services to develop the UAE exports in the global markets and to expedite the national economic recovery in view of the global challenges of COVID-19 pandemic.

Al Dhaheri shed light on the SCCI’s strategic role in developing business and industrial sectors in the country, something that supports the UAE’s strategies to enhance economic diversification and increase national exports.

The webinar also showcased the tools ADEX provides to overseas buyers to encourage the UAE exporters to export their goods and service and to enter new markets, besides the benefits of financing provided by ADEX, such as the competitive interest rates and the direct payment by ADEX to the UAE exporters to help them avoid the hazards of international commercial transactions, such as late payment and nonpayment.

ADEX also helps the UAE export community safely and securely enter new international markets where trusted commercial partners are needed most today, enable overseas buyers to easily find transactions from the UAE companies on favorable commercial terms, and provide them with the direct financing to concludes deals with the UAE exporters, upon fulfillment of the credit eligibility criteria.