ADEX chief holds meeting with officials from Department of Economic Development to discusses cooperation over export promotion

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Officials highlight the necessity to develop mechanisms to support economic diversification and promote trade between the UAE and the rest of the world

Abu Dhabi: Khalil Al Mansoori, Acting Director General of Abu Dhabi Exports Office (ADEX), met officials from Industrial Development Bureau representing Abu Dhabi’s Department of Economic Development. They reviewed cooperation and strategic partnership, as well as plans to promote exports and support the national economy.

Al Mansoori said: “The meeting is part of an initiative to unite the national effort, strengthen strategic cooperation, create new opportunities for UAE companies and help them expand their business and global footprint.”

He emphasized the importance of the cooperation agreement signed last year with the Department of Economic Development of Abu Dhabi, represented by the Bureau of Industry Development, to support domestic exporters and enhance their competitiveness globally. He said that it facilitated the development of the UAE’s export sector, and enabled companies and factories in Abu Dhabi to highlight their presence on the global trade map.

The meeting also tackled challenges facing national companies and explored innovative solutions that would support the growth of the export sector and increase its contribution to Abu Dhabi’s GDP. Additionally, the officials discussed ways to develop mechanisms that could support the economic diversification strategy and trade promotion between the UAE and the rest of the world.

ADEX was established by Abu Dhabi Fund for Development (ADFD) in 2019 to provide financing solutions and loan guarantees to UAE exporters and importers dealing with the UAE. It offers buyer-credit facilities for import of Emirati products and services, paving the way for Emirati-owned export companies to find new markets for their products while reducing potential payment risk. ADEX seeks to support the UAE economy by strengthening the export sector.

 About ADEX

Established by the Abu Dhabi Fund for Development (ADFD) in 2019, the Abu Dhabi Exports Office (ADEX) offers financing solutions to Emirati exporters to help increase the country’s export volume and promote UAE export business in the global markets. ADEX’s mandate includes providing credit facilities to overseas buyers and importers via direct and indirect loans and guarantees, thereby enhancing the export sector’s pivotal economic role and promoting its global competitiveness. This is in line with the UAE’s economic diversification strategy. The entity also seeks to expand the range of locally made exported goods and services, being among the main pillars of the country’s sustainable development.