KUWAIT: 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 countries worldwide.
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.