The Saudi Export-Import Bank has signed a memorandum of understanding (MoU) with the Algerian Export Insurance and Guarantee Company (CAGEX) with the aim of developing joint cooperation in the fields of export credit and the export of non-oil products and services. This initiative opens new horizons for collaboration between companies in both countries and contributes to strengthening strategic partnerships in the export sector.
The MoU aims to enhance regional economic cooperation and foster integrated efforts among member export credit agencies to develop the export credit insurance industry in the region. It includes several areas of collaboration, most notably the provision of export credit services and the exchange of knowledge and expertise through workshops and conferences.
It is worth noting that the Saudi Export-Import Bank, a subsidiary of the National Development Fund, contributes to diversifying the Kingdom’s economic base in line with Vision 2030. This is achieved by promoting the export of non-oil national products and services through tailored credit products designed to empower Saudi non-oil exports via customized solutions for export credit.
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