The Sharjah Chamber of Commerce & Industry, SCCI, recently organized 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 utilization of financing services and guarantees offered by ADEX.

The webinar was attended by His Excellency Mohammad Ahmed Amin Al-Awadi, SCCI Director-General, and Mr. 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 AED 550 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, His Excellency 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.

Fostering the national campaign objectives

Praising the effective cooperation between ADEX and SCCI, Mr. 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.

Full-fledged strategy

Abdul Aziz Shattaf said: “Since the outbreak of COVID-19 and its implications for the global economy, the Sharjah Exports Development Center has developed a full-fledged strategy that provides solutions to challenges faced by Center members. This includes the launch of numerous programs, webinars, and workshops, according to the directives of the SCCI, and as part of our endeavors to actively participate in enhancing the businesses of national companies and institutions in Sharjah. It is also part of the efforts made to find new markets so that they can dig into new areas of commercial and investment cooperation. This would help strengthen and expand the exports of our national companies into new areas around the globe.”

Shattaf noted that the webinar is one of the fruits of the bilateral MoU signed between the SCCI and ADEX, paving the way for more initiatives that would ultimately serve the interests of the UAE companies and institutions.