Under the patronage of H.E. Minister of Industrial and Mineral Resources, Bandar Al-Khorayef, and Chilean acting Vice Minister of Foreign Affairs, Mr, Rodrigo Olsen .Saudi EXIM Bank has signed a Memorandum of Understanding (MoU) with the "Investment Promotion Agency of Chile", aimed at defining guiding principles for developing cooperation and trade relations between the two parties to enhance the export of products and services in both countries, including boosting Saudi investments and expanding non-oil Saudi exports in the Chilean markets.
The MoU was signed by His Excellency the CEO of Saudi EXIM Bank, Eng. Saad bin Abdulaziz Al-Khalb, and Acting Director, Mr. Juan Pablo, on the sidelines of the Saudi-Chilean Investment Roundtable in the Chilean capital, Santiago.
According to the MoU, cooperation between the parties includes various areas such as marketing intelligence and research, commercial mediation and communication events, and exchange of information and expertise. The MoU enables the exchange of economic ideas, data, and investment trends between Saudi Arabia and Chile. It establishes a mechanism to exchange information on industry-specific opportunities, potential investment projects, and market entry strategies to enhance corporate business decisions. Additionally, it promotes partnerships, joint ventures, and cross-sector collaboration to enhance economic growth and strengthen relations between the two countries while conducting joint research on common areas of interest.
On this occasion, His Excellency Eng. Saad Al-khalb stated: "This memorandum is one of the fruits of a productive meeting aimed at enhancing economic and trade relations between the Kingdom and Chile, confirming mutual desire to develop commercial and investment activities between the two countries. Together, we will explore insights, trends, and develop suitable strategies. We encourage exporters in the Kingdom to benefit from promising investment opportunities, and we will do our utmost to facilitate the export of non-oil Saudi products to the Chilean markets."
It is worth noting that the Saudi EXIM is a developmental bank under the National Development Fund, working to establish strategic partnerships to enhance the efficiency of the export and import system in the Kingdom, contributing to the development of non-oil Saudi exports and achieving related targets in Saudi Vision 2030.
