Saudi EXIM Bank Enhances Non-Oil Exports Through Partnerships With Japan's SMBC And MUFG

On the sidelines of the Saudi-Japan Vision 2030 Business Forum in Tokyo, Saudi EXIM Bank signed two cooperation agreements with SMBC Business Banking and MUFG Bank. These agreements aim to foster cooperation and create co-financing opportunities to promote non-oil exports in target markets, according to the Saudi EXIM Bank.

The agreements were signed separately by Eng. Saad bin Abdulaziz Al-Khalab, CEO of Saudi EXIM Bank, along with Mr. Akihiro Fukudom, CEO of SMBC Bank, and Hironori Kamizawa, CEO of MUFG Bank. Commenting on the partnerships, Eng. Saad Al-Khalab stated: "This collaboration with Japanese entities is part of our joint efforts to strengthen economic relations between both countries and achieve the Saudi-Japan Vision 2030."

During a roundtable meeting that brought together several ministers from both sides, Eng. Saad Al-Khalab reviewed Saudi EXIM Bank's activities with Japanese financial institutions and commercial companies. The focus was on enhancing economic and trade relations and identifying projects of mutual interest.

At the financial sector's roundtable meeting, Al-Khalab emphasized the critical importance of collaborative efforts between all financial institutions and business sectors. He highlighted the need for comprehensive, incentivizing credit solutions to accelerate trade and mutual investment activities globally.

The Saudi EXIM Bank aims to empower the Kingdom's non-oil national economy in accordance with Vision 2030. The bank is focused on enabling Saudi non-oil exports to expand and penetrate global markets by bridging financing gaps and reducing export risks.

With inputs from SPA