SME Protect will be available to exporters and re-exporters from 1 September 2019.
Monday 05, August 2019
Etihad Credit Insurance (ECI) has announced SME Protect, an export trade credit solution designed for UAE-based SMEs to support their growth plans globally and assist them in entering high-growth markets.
HE Eng Saed Alawadi, the CEO of Dubai Export Development Corporation, Board Member and Chairman of the Executive Committee at ECI, said, “ECI’s newly launched SME Protect will assist exporters and local businesses to access highly competitive global markets.”
ECI stated that SME Protect is a cost-effective and easy to access and manage solution to move on from the limiting and traditional Letters of Credit or cash payments terms, towards the most updated sales on open credit terms.
According to the Federal Competitiveness and Statistics Authority, the contribution of the SME sector to the UAE's GDP is estimated at 53 per cent in 2019, up from about 49 per cent in 2018.