ABU DHABI, 14th April, 2025 (WAM) -- The Abu Dhabi Exports Office (ADEX) has signed a US$235 million (AED863 million) syndicated loan agreement with Japan's Sumitomo Mitsui Banking Corporation (SMBC) and Commercial Bank of Dubai (CBD) to support Trafigura, a market leader in the global commodities industry, to acquire commodities originating from the UAE.

The agreement, which comes as a strategic move to empower UAE exporters and advance the nation's economic diversification goals, underscores ADEX's commitment to strengthening the UAE's position as a globally competitive trade hub while accelerating the country's sustainable economic development.

Under the agreement, ADEX spearheaded the financing with US$150 million, supporting Trafigura's acquisition of UAE-produced commodities across strategic sectors such as energy, metals and minerals. CBD contributed US$65 million, while SMBC coordinated the syndication with a contribution of US$20 million.

This collaboration will amplify access to Emirati products in international markets, directly aligning with the UAE's vision to diversify its economy and build resilient trade partnerships.

The agreement was signed by Khalil Fadel Al Mansoori, Executive Director of the Abu Dhabi Exports Office, alongside representatives of Trafigura, SMBC, and CBD. Officials from Abu Dhabi Fund for Development and other participating entities 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 the Abu Dhabi Exports Office, said, "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 emphasised the transformative potential of the agreement, "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."

Highlighting the UAE's strategic significance, Jonathan Joseph-Horne, Co-Head of Global Trade Finance Department, EMEA at Sumitomo Mitsui Banking Corporation, said, "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."

Fahad Al Muhairi, General Manager - Institutional Banking, at Commercial Bank of Dubai, also emphasised the strategic impact of the agreement, stating, "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."

The agreement marks a milestone in the UAE's journey towards a diversified, future-ready economy. By connecting UAE exporters to Trafigura's global networks, ADEX continues to champion sustainable trade practices while supporting the UAE's broader economic objectives enshrined in the Abu Dhabi Economic Vision 2030 and We the UAE 2031, while also highlighting the power of public-private partnerships in achieving shared economic success.