PARIS: The Arab Investment and Export Credit Guarantee Corporation (Dhaman) has expressed its commitment to enhancing economic relations between Arab nations and France, as outlined in a working paper presented at the Arab-French Economic Summit in Paris. Dhaman emphasized its readiness to leverage its insurance, information, and research services to support this bilateral engagement, highlighting the significant scale of trade, investment, and financial transactions between the regions. According to Kuwait News Agency, Dhaman reported that mutual investments between Arab countries and France have surpassed $128 billion from 2003 to 2024. In 2023 alone, Arab-French trade amounted to $67 billion, with substantial activity involving Arab Maghreb and Gulf countries. The summit, co-organized by the Union of Arab Chambers and the Arab-French Chamber of Commerce (CCFA), was conducted under the auspices of French President Emmanuel Macron. Dhaman's paper detailed its capability to insure French direct investments in Arab countries against political risks, including expropriation, currency inconvertibility, and war-related disturbances. It noted the presence of 790 French companies that have carried out 1,364 projects in Arab states over the past 22 years, with capital expenditures totaling $126 billion. These projects are concentrated primarily in the energy sector, with significant investments in Saudi Arabia, Egypt, Morocco, UAE, and Qatar. The corporation also conveyed its readiness to insure Arab exports to France and imports of French goods, protecting these transactions against political and commercial risks such as importer bankruptcy and default. Additionally, Dhaman committed to fostering partnerships between French and Arab banks to streamline financial operations and trade under competitive terms. In May 2024, Dhaman signed a memorandum of understanding with the French export insurance company "PI FRANCE" to enhance collaborative efforts in providing insurance facilities for economic operators from both r egions. The corporation has facilitated insurance services worth $541 million for French exports to Arab countries over the past six years, with another $37 million for Arab exports to France. In 2024, intra-Arab-French trade saw $106 million insured, with expectations for these figures to double. Dhaman identified substantial opportunities in the French market, with global agencies committed to insuring French imports and foreign investments in France valued at $108 billion in 2023. This aligns with the anticipated growth in transactions following recent economic agreements with nations such as Morocco, Qatar, UAE, Saudi Arabia, Tunisia, and Egypt. Arab exports to France reached $36 billion in 2023, a figure that Dhaman suggests could increase given the current trade percentages. Morocco, Algeria, Saudi Arabia, Tunisia, and UAE were responsible for the majority of these exports, which predominantly included oil, gas, machinery, and agricultural products. The corporation reaffirmed its dedication to suppor ting Arab-French economic relations through additional services, including research and consulting, to assist decision-makers in navigating trade, investment, and insurance landscapes. Established in 1974 and based in Kuwait, Dhaman includes all Arab countries and four joint Arab financial institutions among its members. It specializes in providing insurance services to mitigate credit and political risks, aiming to facilitate foreign direct investments into Arab nations and promote regional exports and imports.
