News & Economic Publications
Corporate news

Ajman CCI, Coface and NGI sign MoU to support trade business of member companies

Ajman CCI, Coface and NGI sign MoU to support trade business of member companies

The Ajman Chamber of Commerce and Industry has signed a Memorandum of Understanding (MoU) with Coface Emirates Services and National General Insurance Company (NGI) to extend trade credit solutions and risk management services to member companies of the Chamber.


This important agreement with the Ajman Governmental entity is in line with the strategy of Coface to strengthen its presence and quality of information in the UAE. The agreement will allow Coface to access Ajman Emirate Chamber of Commerce information to enhance our risk management in the UAE, as well as, promote the penetration of credit insurance through our partner National General Insurance. During 2015 the Chamber reached 33,000 members, and there are 762 factories owned by the emirate. The metal products and machinery equipment sectors have the largest share of exports with 17%, followed by the food sector with about 15%.


Executive Director of Membership Registration, H.E. Abdullah Omar Al Marzouqi, said: "The signing of the Memorandum of Understanding reflects the keenness of the Ajman Chamber to provide a safe investment and trade environment amongst its members. This is aligned with our objective of forging partnerships with various government and private agencies to improve the quality of services for our members and affiliates, in order to grow their business sustainably."


Massimo Falcioni, Head of Middle East Countries for Coface, said: "We are very pleased to partner with the Ajman Chamber of Commerce and Industry in sustaining the economic and export interests of its member companies. We, at Coface Emirates Services, are glad to extend the full range of our expertise in trade credit management and risk information services. Chamber members will be able to leverage on our proficiency through this new partnership and the collaborative activities in the coming months."


Dr. Abdul Zahra Abdullah Ali, CEO of NGI, added: "The Emirate of Ajman has ambitious plans for trade growth and we are honoured to be the chamber's partner that specialises in providing comprehensive insurance for trade receivables, creating a more protected business environment. We foresee that this association will lead to greater benefits for all stakeholders, including the chamber members."


Guillaume GAUDRY

Coface Emirates Services Limited
DIFC, Emirates Financial Towers, South Tower
7th Floor, Office # 701, P.O. Box: 506598, Dubai, UAE
Tel: +971 4 30 99 100