The Saudi Export-Import Bank (Saudi Exim) signed a memorandum of understanding (MOU) with the Compagnie Algérienne d'Assurance et de Garantie des Exportations (CAGEX), an export credit and guaranties company, to strengthen cooperation in export credit and the promotion of non-oil products and services.
The agreement aims to open new opportunities for collaboration between companies in both nations and bolster strategic partnerships in the export sector.
The MoU was signed by H.E Eng. Saad bin Abdulaziz Al-Khalb, CEO of Saudi EXIM Bank, and Mr. Zohir Laiche, CEO of CAGEX, on the sidelines of the Aman Union 14th Annual Meeting held in Algiers, Algeria. This MoU outlines areas of collaboration, including providing export credit services and sharing expertise through workshops and conferences.
Saudi EXIM Bank, a subsidiary of the National Development Fund (NDF), plays a vital role in diversifying the Kingdom's economic base in line with Vision 2030. By offering tailored credit products to support the export of non-oil national products and services, the bank empowers Saudi exporters with customized solutions to facilitate export credit and strengthen the Kingdom's global trade presence.
