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Saudi EXIM Boosts Global Commercial Relations in Hamburg

The Saudi Export-Import Bank (Saudi EXIM) has participated in the Berne Union’s annual meeting in Hamburg, Germany, the Saudi Press Agency (SPA) reported.

EXIM’s participation in the meeting aimed particularly at boosting export credit systems in global trade and fostering global commercial relations. Therefore, the bank showed great interest in forging partnerships with several entities to empower Saudi non-oil exports in global markets.

The bank has signed a Memorandum of Understanding (MoU) with Etihad Credit Insurance (ECI) to strengthen the bilateral cooperation in export financing and insurance. The partnership also included insurance against export credit risks and enabling small and medium enterprises to export their products.

The deal was signed by the CEO of Saudi EXIM Bank, Eng Saad bin Abdulaziz Al-Khalb, and the CEO of ECI, Raja Al Mazrouei. Al-Khalb has taken part in a significant discussion in which he stated that EXIM provides $1.2 billion credit facilities to international export houses to address global trade challenges.

In the light of this, the bank has set a priority to bolster its international cooperation and unleash new avenues for strategic partnerships. The CEO also noted that the bank aligns with the ambitious objectives of Saudi Vision 2030.

It supports the Kingdom’s renewable energy transformation by providing financial products which promote sustainable business practices. Moreover, Saudi EXIM has held numerous meetings with representatives of export credit agencies and financial and commercial institutions worldwide.

Such meetings have opened new untapped areas for communication, cooperation, and trade exchange opportunities. Thus, the bank will empower local exporters to expand their export activities and facilitate the access of Saudi non-oil exports to global markets.

Related Topics:

Saudi EXIM Bank Signs MoU with OPEC Development Fund

Saudi’s SABB, EXIM sign insurance deal to facilitate exports

Saudi EXIM Raises Non-oil Products Globally

 

 

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