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FINANCIAL NEWS
Trade cover costs for UAE exporters likely to jump
24 Feb 2011
(MENAFN) The Chief Commercial Officer at the government-owned Export Credit Insurance Company of the Emirates (ECIE), Schuyler D’Souza, said that the ongoing political turbulence in the region is expected increase trade insurance costs for UAE exporters by 20 percent, reported Gulf News.
D’Souza said that premium rates to countries like Egypt, Tunisia, and Libya are surely going to climb. Rates are expected to increase to between 0.45 and 0.6 percent from an average of 15 to 20 percent.
It is worth noting that unrest over poverty and high unemployment had been spreading through different Arab countries in the Middle East and North Africa over the past 2 months.
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