The export office seeks to contribute to raising the volume of national exports and facilitate entry into new markets.
Wednesday 11, September 2019 BY MUZORIWA KUDAKWASHE
The Abu Dhabi Fund for Development (ADFD) has launched the Abu Dhabi Exports Office (ADEX) to support the national economy and enhance its competitiveness through the provision of financing and guarantees to overseas buyers from the public as well as private sectors seeking to import goods from the UAE.
HH Sheikh Mansour bin Zayed Al Nahyan, the Deputy Prime Minister, Minister of Presidential Affairs and Chairman of ADFD’s Board of Directors said that to maintain its distinguished status, the country continues to explore new opportunities to grow its economic sectors and increase the reach and volume of non- oil national exports.
Additionally, HH Sheikh Abdullah bin Zayed Al Nahyan emphasised that the inception of ADEX represents a monumental leap in the implementation of the UAE’s economic diversification policies, boosting the national economy and reducing dependence on oil as a source of income.
Mohammed Saif Al Suwaidi, Director General of ADFD, said, “ADEX seeks to expand the variety of UAE-made products and services for export, and raise the volume of national exports through providing financing and guarantee facilities.”
In addition to boosting national exports, ADEX also aims to manage accompanying trade risks and support the UAE in consolidating the country’s position on the world trade map.
ADEX’s financing ratio holds the potential to reach 100 per cent, depending on the type of funding and the nature of each transaction and the associated risks.