Mubasher: The Abu Dhabi Exports Office (ADEX) has allocated AED 550 million ($150 million) to support the UAE export sector and economy diversification.
During its first meeting for the year, the committee discussed a number of requests to finance exports, as well as reviewed the strategies developed to promote services provided by ADEX locally and globally for the coming period.
The finances will help “facilitate direct loans to foreign buyers as well as lines of credit for international financial institutions exclusively available to importers of goods and services from UAE companies,” according to Mohammed Saif Al Suwaidi, director general of Abu Dhabi Fund for Development (ADFD) and chairman of the executive committee of ADEX.
"ADEX is collaborating with chambers of commerce and economic development departments across the UAE in a unified effort to help national export companies understand how to leverage the power of ADEX to safely and securely expand into strategic international growth markets. We want all UAE exporters and their foreign buyers to know that the UAE stands behind them as a financial catalyst for mutually beneficial business development,” Saeed Al Dhaheri, ADEX Acting Director General, commented.
