The Abu Dhabi Exports Office (ADEX) revealed the launch of a national campaign that contributes to helping the leaders of the business sector and companies in the UAE to use the financial solutions and services provided by ADEX, to support the expansion of exports of Emirati companies in the global markets, and to accelerate the recovery of the national economy from the global challenges imposed by Covid-19 pandemic.
In a related context, ADEX may work as part of its strategy to build partnerships with economic development institutions and chambers of commerce across the country for cooperation and coordination to hold a series of forums via electronic communication technology to increase the awareness of UAE business leaders and companies on maximizing benefit from Financial instruments and services provided by the Abu Dhabi Export Office.
The move will assist national companies to enhance their competitiveness and success in global markets. The Emirati companies will be able to expand their business through the secure mechanism provided by the credit umbrella of the Abu Dhabi Export Office, especially with the challenges that importers around the world face in obtaining financing to import goods and services with the global economy at the present time being worsened by the pandemic.
ADEX Exports, which was established by the Abu Dhabi Fund for Development in 2019, will also aim to contribute to increasing the volume of exports of UAE companies, support sustainable national economic growth, and drive diversification of the economy's sources of income. As a national and economic necessity, it proposes more innovative and proactive solutions to complement the successful economic policies in the Emirates.
On the one hand, Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development and Chairman of the Executive Committee for Exports, pointed out the necessity of activating economic mechanisms characterized by long-term planning. To include importers and companies around the world, both of them deal with urgent issues related to providing the necessary cash, delayed transfer of dues to suppliers and securing the necessary financing to cover their commercial contracts. "
Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development and Chairman of the Executive Committee for Exports added: “Abu Dhabi Exports is working to provide solutions to these challenges to enable Emirati companies and importers from outside the country to finance import and export contracts between them, which are mutually beneficial both quickly and more easily.” .
In this context, the Abu Dhabi Export Office (ADEX) has allocated 550 million dirhams ($ 150 million) to finance export contracts for Emirati national companies after fulfilling the requirements of the creditworthiness study of importers. This financing will support the ways of recovering the national economy from the Covid crisis-19.
On the other hand, knowing how to use the financial solutions and services provided by Abu Dhabi Exports (ADEX) provides Emirati companies with an effective and distinct strategic tool that enables them to develop and expand their business and overcome obstacles and challenges facing them in providing cash liquidity. Abu Dhabi Exports also plays a pivotal role in this phase in financing the sale and purchase movement between UAE companies and importers. Once the financial competency of the buyer has been approved, and his confirmation of the successful delivery of all contracted products and services, ADEX pays the financial dues to the UAE company.
Mohamed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development, Chairman of the Executive Committee for Exports, added: “We look forward to the ability of all Emirati companies to benefit from the financial tools and solutions provided by ADEX in a way that contributes to achieving the growth of their business and enhancing their efforts towards expanding and developing the prospects of their commercial activities in a sustainable and expanding manner. Their long-term capabilities and pushing our national strategy to diversify the sources of economy income into the future. "
After the success witnessed by the awareness workshop held by "ADEX" in partnership with the Abu Dhabi Chamber of Commerce and Industry, Abu Dhabi Exports, in partnership with the Fujairah and Sharjah Chamber of Commerce and Industry, will launch an awareness campaign, which includes organizing forums via electronic communication technology designed specifically for member companies in the chambers of commerce, especially national factories. . Through these interactive seminars, members will be able to discuss ways to access and benefit from the financing services provided by "Abu Dhabi Exports" to help them expand their business and increase the exports of their companies. Details about when and how to participate in these exclusive forums for members will be circulated directly through their chambers of commerce.
On his part, Saeed Al Dhaheri, Acting Director General of the Abu Dhabi Exports Office (ADEX), pointed out the importance of cooperation and joint work and assuming responsibility for developing Emirati national companies and contributing to their economic growth, saying: "We are working today to implement the Emirati vision to achieve economic recovery after the current crisis and its global repercussions. And we look forward together for the next fifty years to complete the successes achieved over the past decades. So we work closely with our partners in the chambers of commerce and relevant government economic bodies that map the road map for our national exports, to ensure increased awareness The national pillars that form the backbone of our economy, on how to access the set of tools available to them to keep their businesses growing during the current challenges and beyond.
ADEX is currently cooperating with chambers of commerce and government partners across the country to organize a number of awareness forums for Emirati companies to ensure that information about financial instruments and services provided by the Abu Dhabi Export Office is provided. The details of these forums will be shared once the timetable has been set for them.