RIYADH, Dec 26, 2022. – The Saudi Export-Import Bank (Saudi EXIM) has signed a Memorandum Understanding (MoU) with Mitsui & Co., Middle East Ltd. to bolster its continued efforts to strengthen Saudi’s export market.
The MoU aims to build a collaborative framework that facilitates the exchange of resources between both parties and offers non-oil Saudi exports enhanced credit solutions. The agreement will also contribute to the realization of Vision 2030’s non-oil export growth and sustainable economic development objectives.
The MoU was signed on the sidelines of the Saudi-Japanese Investment Forum 2022 by His Excellency Eng. Saad Alkhalb, the Chief Executive Officer of Saudi EXIM, and Mr. Katsuhiro Nakagawa, Associate Officer Chief Representative of Middle East and Africa Bloc. Mitsui & Co., Ltd., in the presence of the Minister of Investment His Excellency Eng. Khalid A. Al-Falih and senior executives from both sides.
As described by H.E. Alkhalb, the bank’s MoU with Mitsui & Co. Middle East is one of many promising regional and international financial institution collaborations that directly support the growth and diversification of the Saudi export market. Such partnerships also help enhance said market’s competitiveness through credit solutions that empower export activities and global consumer confidence.
His Excellency reaffirmed the bank’s dedication to working with national and global financial institutions to offer a more diverse range of world-class credit services.
Mr. Nakagawa also expressed his excitement over the recently signed MoU, stating that it would pave the way for a range of fruitful collaborations with Saudi EXIM, while also facilitating the exchange of data that will help strengthen Saudi’s non-oil export trade.
