Abu Dhabi Department of Economic Development will hold a workshop entitled Financing Exports the day after tomorrow, Wednesday, at the headquarters of Abu Dhabi Chamber of Commerce and Industry (ADCCI) which will be attended by 22 delegates representing 13 national and foreign banks private financing entities.
Dr. Adeeb Al Afifi, Director of Exports Support and Foreign Trade, DED’s International Economic Relations Sector, stated that the objective of holding the workshop in coordination with ADCCI is to shed light on the most conspicuous obstacles and problems facing the process of financing local companies factories with the purpose of developing their exports.
He pointed out that the workshops are held within the framework of numerous activities forums organized by DED to provide the private sector with a package of incentives facilitations to underpin the national exports of Abu Dhabi Emirate by presenting the necessary encouragement to boost the non-oil exports of the Emirate so they would reach the level set in Abu Dhabi Vision 2030 which aims to uplift non-oil exports to make up 11% of the entire GDP of the Emirate.
Al Afifi added that in order to achieve this objective, DED coordinates its efforts with its strategic partners to present a number of facilitations incentives to increase develop the products of national companies factories operating in the Emirate, and also help small medium-sized companies to open up new horizons for their products and gain access to new markets.
The agenda of Financing Exports includes an opening speech by DED to shed light on its strategy which aims to boost national exports by offering a number of incentives facilitations, in addition to a presentation which highlights the main aspects of by Abu Dhabi Economic Vision 2030 with regard to developing local exports and the Abu Dhabi government's focus on developing the industrial sectors in cooperation coordination with the financial sector.
During the workshop DED determined a set of discussions amongst the participants who represent national foreign banks to further discuss assess current situation of the finance of exports by shedding more light on the organizational procedures, market conditions and the awareness of local companies factories of the significance of developing their exports and putting forward the suitable solution to overcome the obstacles which impede the financing of exports.
Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank, Abu Dhabi National Bank, First Gulf Bank, Union National Bank, Investment Bank, Emirates Bank, Arab Bank, Habib Bank, HSBC, Noor Islamic Bank, COFACE Emirates Services and NBD will participate in the workshop.