Kuwait Times, Sunday, Jan 22, 2023 | Jamadi Al Thani 29, 1444
Dhaman signs MOU with ECG to promote trade and Investment
Kuwait-based Arab Investment & Export Credit
Guarantee Corporation (Dhaman) signed a memo of understanding (MOU) with Export
Credit Greece (ECG) for bilateral cooperation and exchange of information to
promote trade and investment between Kuwait and Greece. The MOU was signed by
Director-General Abdullah Ahmad Al-Sabeeh on behalf of the Corporation, and
Greek Deputy Foreign Minister for Economic Diplomacy and Openness Konstantinos
Fragkogiannis on behalf of Export Credit Greece (ECG).
The corporation’s director-general welcomed cooperation with the Greek agency,
and the signing of the MOU, stressing Dhaman’s willingness to strengthen its
role in promoting foreign investments in Kuwait and Arab countries, and boosting
the exports of Kuwait and Arab Member States Countries to different world
Al-Sabeeh pointed out that the MOU aims at promoting and bolstering trade
relations between Kuwait and Greece, exchanging information on existing,
greenfield and potential foreign direct investment ventures, and exploring
mutual opportunities in insurance, reinsurance and joint insurance services for
export and investment.
He added that it the MOU is also meant to exchange trade and credit information
on Kuwaiti and Greek investment, trade and insurance agencies, and to share
expertise and the best practices in commercial credit and political risk
underwriting, risk management, country risk rating, and paid and recovered
compensations claims and recoveries.
For his part, Greek Deputy Foreign Minister for Economic Diplomacy and Opening
Openness Kostas Fragkogiannis welcomed the signing of the MOU with the Arab
Investment & Export Credit Guarantee Corporation, stressing the significance of
promoting trade and investment cooperation between Kuwait and Greece.
He said that the Export Credit Greece (ECG) was established on March 31, 2022,
with the aim of promoting national exports and serving Greek exporters through
the insurance of export credit and financial and consulting services and
strengthening international partnerships. He added that the ECG seeks to build
cooperation with other export credit guarantee agencies on the basis of mutual
interest and for the benefit of its customers.
Fragkogiannis affirmed that the agency is eager to put the MOU in place, thus
reflecting positively on bilateral cooperation in the areas of credit and
political risk insurance trade, investment and insurance, pointing out mutual
willingness to broaden the scope of cooperation in the future to include joint
ventures in other Arab countries through joint credit insurance, parallel
insurance, reinsurance or technical cooperation.