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“Abu Dhabi Exports Office” signs a financing agreement with “Capital Bank” to set future frameworks for the development of national exports

The Abu Dhabi Export Office (ADX), affiliated with the Abu Dhabi Fund for Development, signed a financing agreement with Capital Bank, whereby the agreement requires the opening of a credit line amounting to approximately  73.4  million UAE dirhams, equivalent to (20 million US dollars), in order to enhance the economic activity of the two countries and support joint efforts. To develop the UAE’s foreign trade movement with the countries of the region, and the agreement contributes to establishing additional credit lines to facilitate joint financing operations, in an effort to support UAE exports and enhance its presence in the Jordanian markets.

The signing was attended by His Excellency Mohammed Saif Al-Suwaidi, Director General of the Abu Dhabi Fund for Development, Chairman of the Executive Committee for Exports, Mr. Basem Khalil Al-Salem, Chairman of the Board of Directors of Capital Bank Group, and a number of officials from both sides. The signing ceremony of the agreement took place at the bank’s headquarters in Jordan, by Mr. Khalil Fadel Al Mansouri, Acting Director General  of the Abu Dhabi Export Office, and Mr. Daoud Al Ghoul, CEO of Capital Bank.

On this occasion, His Excellency Mohammed Saif Al Suwaidi said: “We are pleased to sign the agreement with Capital Bank, through which we work in accordance with the vision and directives of our wise leadership towards developing UAE exports and accelerating the economic diversification plans of the United Arab Emirates. This strategic partnership is in line with the goals of the UAE Centennial 2071 and supports the Achieving a quantum leap in the growth of the national economy and doubling the gross domestic product, and the agreement supports the consolidation of the country’s position as a leading global center for trade.”

His Excellency added :  “We at the Abu Dhabi Export Office seek to target new regional and global markets characterized by a growing and promising economy. Therefore, we are working to provide financing and guarantees to raise the level of contribution of Emirati companies and provide competitive opportunities for the access of national goods and products to various international markets, including markets Jordanian. The agreement also contributes to enhancing strategic integration to develop the export sector in a way that achieves the common interests of both parties.”

His Excellency Mr. Basem Khalil Al-Salem expressed his happiness with this partnership, which is an important step that will develop the relations of joint cooperation between the two sides in various economic fields, and contribute to the promotion of trade exchange and the revival of economic growth for the two countries, hoping that this agreement will achieve its goal and meet common aspirations and goals, including Supports the achievement of sustainable development.

For his part, Mr. Khalil Fadel Al Mansouri said: “This agreement constitutes a new economic phase that supports the development of national exports, enhances the development of trade relations between the two sides, and provides opportunities for Emirati companies to expand geographically and access strategic regional and global markets, which contributes to achieving policies The country that supports sustainable economic diversification,” he added,  adding that under this agreement, Abu Dhabi Exports will open a credit line with Capital Bank with the aim of re-lending it to buyers and importers to purchase goods and services from an Emirati exporter on favorable terms and competitive advantages.

In turn, Mr. Daoud Al-Ghoul said: “We are proud to sign the financing agreement with the Abu Dhabi Export Office, through which we will provide additional financing services at preferential prices to our corporate clients in order to support their commercial dealings with the United Arab Emirates, as the agreement will provide Jordanian companies the advantage of benefiting from the financing And the competitive advantages offered by Abu Dhabi Exports, which support the import of Emirati goods and products in easy and safe ways.

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