Sun 15-10-2023 18:01 PM
ABU DHABI, 15th October, 2023 (WAM) — The International Trade and Forfaiting Conference (ITFA) drew the active participation of the Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD).
The 49th edition of the event was held in Abu Dhabi, drawing the participation of delegates from different fields including banking and finance, insurance, law, and fintech for three days of panels, presentations, meetings, and a dedicated networking facility.
Khalil Al Mansoori, the Acting Director General of ADEX, delivered a keynote address, expressing his keenness to forge partnerships with institutions and organisations to promote and facilitate UAE’s global exports.
He also shared insights into the organisation’s goals, achievements, and future plans highlighting its role in supporting the country’s ambition to raise export volumes.
He drew the audience’s attention to the UAE’s vibrant trade landscape, with the UAE being among the top 20 exporters globally and its products reaching more than 180 countries.
Pointing out that the Emirates aims to raise national exports by 50 percent, he said that ADEX has an opportunity to play a larger role.
As a key export financer, the Abu Dhabi Exports Office is dedicated to strengthening and expanding the export sector by facilitating importers’ access to capital on highly competitive terms to purchase UAE goods and services.
Al Mansoori announced that, to date, ADEX has extended about AED 2.5 billion worth of credit facilities, contributing significantly to the expansion of export volumes to various countries and regions.
He highlighted the recent success of the UAE’s non-oil exports, which rose in the first six months by 11.9 percent annually to reach AED205 billion. “This milestone marks the first time our exports have exceeded AED 200 billion in the half-year period, reflecting the competitiveness of our manufacturing and services sectors,” he noted.
Al Mansoori expressed optimism about the future, saying that the export sector presented unprecedented prospects to contribute to the UAE’s growth story and strengthen the country’s position as a global leader in the sector.