Saudi EXIM signs deal with Italian Export Credit Agency to boost exports
Saudi Arabia’s Export-Import Bank has signed a memorandum of understanding with the Italian Export Credit Agency to increase trade between the two countries, the Saudi Press Agency reported on Thursday.
The agreement was signed in Rome by Saudi EXIM Bank CEO Saad bin Abdul Aziz Alkhalb and SACE CEO Alessandra Ricci.
It aims to establish a framework to boost Saudi exports to the Italian market and explore opportunities for collaboration in professional development and knowledge exchange on best export credit practices.
Alkhalb said the deal reflected the bank’s efforts to promote the development and diversification of Saudi exports and their ability to compete in global markets in a variety of sectors.
It is in line with the Kingdom’s Vision 2030 framework to increase the economic contribution of non-oil sectors to 50 percent of gross domestic product, from 16 percent at present.
It aims to establish a framework to boost Saudi exports to the Italian market and explore opportunities for collaboration in professional development and knowledge exchange on best export credit practices.
Alkhalb said the deal reflected the bank’s efforts to promote the development and diversification of Saudi exports and their ability to compete in global markets in a variety of sectors.
It is in line with the Kingdom’s Vision 2030 framework to increase the economic contribution of non-oil sectors to 50 percent of gross domestic product, from 16 percent at present.
