$150 million in funding to support export transactions
The UAE's export community has received a major boost with the Abu Dhabi Exports Office (ADEX) launching a national campaign to enable businesses to use financial products and services.
The move will enable UAE exporters to gain a competitive advantage while expanding into international markets.
Mohammed Saif Al Suwaidi, Director-General of ADFD and Chairman of the ADEX Export Executive Committee said: “This is not only a difficult time for the UAE exporters, but it’s also a challenging time for their overseas buyers. Both are dealing with liquidity and cash flow issues, delayed supplier payments, and limited access to financing.
"ADEX provides a solution to these challenges that enable both the exporter and foreign importer to quickly and easily fund mutually beneficial transactions.”
ADEX has already allocated $150 million in funding to support eligible export transactions of national companies.
As part of the campaign ADEX is conducting workshops in conjuction with chambers of commerce of the Emirates of Abu Dhabi, Fujairah and Sharjah.
The workshops will educate exporters on how they can use the new financing facilities being offered by ADEX in order to secure their export transactions.