Trafigura to Export UAE’s Non-Hydrocarbon Commodities

Boosting its global presence further, Trafigura, the Singapore-headquartered global commodities group, signed a joint agreement with Etihad Credit Insurance (ECI), the UAE Federal export credit company, Abu Dhabi Exports Office (ADEX), First Abu Dhabi Bank (FAB), and Natixis Corporate and Investment Banking (Natixis CIB), to expand its global acquisitions of non-hydrocarbon commodities originating from the UAE.

As part of the agreement, Trafigura will receive a $150 million Revolving Credit Facility for two years to finance its acquisitions of non-hydrocarbon commodities originating from the UAE. These commodities are intended for export and re-export, thus cementing the UAE’s position as a vital hub in global trade networks.

This collaboration also highlights ECI’s dedication to developing strategic alliances that boost the UAE’s economy, increase the global visibility of its non-oil commodities, and solidify the UAE’s standing as a hub for the same.

By bringing these leading financial institutions together to assist Trafigura in sourcing commodities from the UAE, ECI has made significant advancements in the country’s export capacities, thereby solidifying its position as a major player in international trade, while also fostering sustainable economic growth.

It also demonstrates the commitment of ADEX, FAB, and Natixis CIB, to support Trafigura in securing vital non-oil commodities such as metals and minerals from the UAE, further integrating the country’s resources into international supply chains.

With Trafigura’s expertise in supplying its customers with metals, minerals and bulk commodities across the world, its choice to source from the UAE demonstrates both its dedication to the region and the nation’s increasing significance as a supplier of quality, non-hydrocarbon resources.

The company’s extensive global network, in-depth market knowledge, combined with its competence in managing complex supply chains, positions this initiative as a significant turning point in the UAE’s export landscape.

Empowering UAE’s Businesses

ADEX’s exports executive committee chairman Mohamed Saif Al Suwaidi, who is also Director General of ADFD, said that the collaboration is part of ADEX’s core mission to empower UAE businesses and enable them to expand their global footprint.

He said that strategic partnerships between local and international banks – public and private – such as this one help them increase their national exports and strengthen the UAE’s role as a key player in international trade.

ECI CEO Raja Al Mazrouei said that this collaboration exemplifies the UAE’s stable investment climate and effective focus on non-oil sectors.

He added: “More importantly, we believe this association not only increases in-country value, but also strengthens the UAE’s reputation as a trusted source of essential commodities on a global scale. The equitable participation of ADEX, FAB and Natixis CIB, in this transaction reflects ECI’s vision of fostering collaboration, which lays the groundwork for a harmonious and mutually beneficial partnership.”

Trafigura Group Chief Financial Officer Stephan Jansma said that the significance of Etihad Credit Insurance’s convening power is the first financing of its kind to a commodity trading company, supporting the UAE’s increasing significance as a producer of non-hydrocarbon resources.

FAB Group CEO Hana Al Rostamani said that FAB was bolstering its position as an economic connector by providing trade finance solutions for this strategic partnership, which supports the UAE in facilitating trade and investment.

“In partnering with others, we are harnessing our expertise and financial strength as the financial partner for the Middle East and North Africa to grow the UAE’s economy and integrate the country’s commodities into global networks,” she added.