Abu Dhabi Exports Office Signs $235 Million Syndicated Loan Agreement To Enhance UAE Trade With Trafigura

The Abu Dhabi Exports Office (ADEX) has finalised a US$235 million (AED863 million) syndicated loan deal with Japan’s Sumitomo Mitsui Banking Corporation (SMBC) and Commercial Bank of Dubai (CBD). This agreement supports Trafigura, a leader in global commodities, in acquiring UAE-origin commodities. The initiative aims to empower UAE exporters and advance the nation's economic diversification goals.

Under this agreement, ADEX led the financing with US$150 million to support Trafigura's acquisition of UAE-produced commodities in sectors like energy, metals, and minerals. CBD contributed US$65 million, while SMBC coordinated the syndication with a US$20 million contribution. This collaboration aligns with the UAE's vision to diversify its economy and build resilient trade partnerships.

This partnership will enhance access to Emirati products in international markets. It directly supports the UAE's strategy to diversify its economy and strengthen trade partnerships globally. The agreement was signed by Khalil Fadel Al Mansoori, Executive Director of ADEX, alongside representatives from Trafigura, SMBC, and CBD. Officials from Abu Dhabi Fund for Development also attended the signing ceremony.

Mohamed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development and Chairman of the Exports Executive Committee at ADEX, stated: "This agreement is a testament to ADEX’s mission of empowering UAE businesses to compete globally. By providing flexible financial solutions, we are unlocking opportunities for national companies to expand into new markets, drive sustainable economic growth, and strengthen the UAE’s role as a bridge between regional and global trade networks."

Laurent Christophe, Group Treasurer for Trafigura, highlighted the transformative potential of this collaboration: "This collaboration allows us to integrate high-quality UAE commodities into our global supply chains, reaching fast-growing markets while supporting the UAE’s economic ambitions. Together with ADEX, SMBC and CBD, we are further integrating the country’s resources into international supply chains and contributing to the UAE’s vision of long-term prosperity."

Jonathan Joseph-Horne from SMBC noted: "As a global financial leader, we recognise the UAE’s growing influence in shaping international trade. This agreement reflects confidence in the UAE’s export capabilities and its commitment to sustainable development. We are proud to support initiatives that enhance cross-border economic resilience and align with the UAE’s diversification agenda."

Driving Technological Advancement

Fahad Al Muhairi from Commercial Bank of Dubai emphasised: "By streamlining innovative financing solutions, we are strengthening the UAE’s position as a global trade hub. This partnership exemplifies our dedication to fostering economic progress, both locally and internationally, through forward-thinking collaborations that drive job creation and technological advancement."

This agreement marks a significant milestone in the UAE's journey towards a diversified economy ready for future challenges. By connecting UAE exporters with Trafigura's global networks, ADEX champions sustainable trade practices while supporting broader economic objectives outlined in Abu Dhabi Economic Vision 2030 and We the UAE 2031.

With inputs from WAM