Dhaman: Arab Countries See 44% Increase in Trade, Investment Insurance Operations

Dhaman held the 50th meeting of its board of shareholders in Rabat on Saturday. (Asharq Al-Awsat)
Dhaman held the 50th meeting of its board of shareholders in Rabat on Saturday. (Asharq Al-Awsat)
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Dhaman: Arab Countries See 44% Increase in Trade, Investment Insurance Operations

Dhaman held the 50th meeting of its board of shareholders in Rabat on Saturday. (Asharq Al-Awsat)
Dhaman held the 50th meeting of its board of shareholders in Rabat on Saturday. (Asharq Al-Awsat)

The Arab Investment & Export Credit Guarantee Corporation (Dhaman) said that the total value of intra-Arab trade, finance and investment insurance services increased by 44 percent to reach around $3 billion in 2022, compared to about $2.1 billion in 2021.

Speaking on behalf of the chairman of Dhaman board of directors, Dr. Naif bin Abdul Rahman Al-Shammari, at the 50th meeting of Dhaman board of shareholders in Rabat on Saturday, Board Member Ambassador Jamal Al-Ghanim said the total value of insurance premiums increased by 7.97 percent to more than $7.6 million compared to their value in 2021.

The Corporation’s balance sheet for the past year showed an increase in the Dhaman assets to $536.2 million, and a rise in property rights to about $508.5 million, while total revenues amounted to about $16.2 million and profits approached $6 million, according to a statement on Saturday.

Al-Shammari pointed to the institution’s achievements in 2022, including efforts to market insurance services, the signing of four memorandums of understanding with Arab and international bodies, and the development of the institution’s role in the field of research and awareness raising.

Based in Kuwait, the Dhaman was established in 1974 as a pan-Arab organization owned by the governments of Arab states and 4 Arab financial institutions, and provides multilateral investment guarantee.

Its objectives include promoting the flow of foreign direct investment (FDI) into Arab countries by providing political risk insurance to Arab and non-Arab investors and lenders, enhancing Arab exports through political and commercial risk insurance to Arab exporters and supporting domestic trade and economic growth.



FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.