Dubai hosts CreditAlliance Regional Meeting


Two-day event organised by Coface and ECIE

dsc_0626Dubai will host this year’s regional meeting of the General Organisation of CreditAlliance, a key global association that provides trade credit facilities to its members. CreditAlliance founded in 1992, is the world’s leading network and unites 80 members in 100 countries. The members all share  risk management expertise and seek to integrate  its  know-how to their own commercial offering.

The purpose of this meeting is to discuss the current challenges and developments in international trade, and the impact of these developments on the export markets.

Organised by the Export Credit Insurance Company of the Emirates (ECIE ) and the General Organisation of CreditAlliance, the annual regional meeting will be held on 11th and 12th May, 2009. Current changes in the global markets’ credit risk profiles will also be discussed in the meeting.

In the presence of top executives from General Organisation of CreditAlliance member countries across Africa and the Middle East, the meeting sessions will aim to tackle the major credit risk issues considering the current global credit crunch, and the economic and political changes around the world. Strategies and best practices in Trade risk management – debt collection and evaluating market risks will also be discussed at this year’s meeting.

“ECIE became a registered member of the General Organisation of CreditAlliance during the Alliance’s meeting last year, and we are delighted to host the event for the first time in the UAE”, said Eng. Saed Al Awadi, Chief Executive Officer, ECIE.

“General Organisation of CreditAlliance is considered as one of the key global associations that provide trade credit facilities to its members that include offering credit insurance and credit management services. In light of the current financial crisis, the role of such an organisation is increased as a support for different economies to enhance and widen their foreign trade,” Al Awadi added.

ECIE was established primarily to help companies increase their export business by providing them with trade credit protection, which will let them better manage their commercial and political risks, and thereby safeguard their balance sheets and increase profitability. Insured companies are in an ideal position to target new export markets or sell to new buyers, and in turn contribute to the UAE’s GDP growth.

David Venediger, MD of Coface Emirates Service, comments:
“We are glad to co-organize such an event. CreditAlliance gathers now 15 partners in the Africa – Middle East region, which constitutes the most dynamic area within the association.

About Coface
Coface’s mission is to facilitate global business-to-business trade by offering its 130,000 customers four business lines to fully or partly outsource trade relationship management and to finance and protect their receivables: Trade Receivables Protection, Trade Receivables Financing,  Ratings and Business Information and Trade Receivables Management. Thanks to the worldwide local service delivered by 7,000 staff in 65 countries, over 45% of the world’s 500 largest corporate groups are already customers of Coface. Coface is a subsidiary of Natixis whose share capital (Tier 1) was 13.4 billion euros end December 2008.

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About ECIE
The Export Credit Insurance Company of the Emirates (ECIE) is wholly owned by the Dubai Government, and was set up primarily to help companies increase their export business by providing them with trade credit protection.

ECIE offers short-term trade credit insurance policies to companies based in the UAE which are engaged in manufacturing, value-added trading and, the export of services. Insurance policies tailored by ECIE cover a Seller against the risk of non-payment by its Customers.

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