Saudi EXIM Hosts Global Risk Experts Meeting In Riyadh To Address Economic Challenges

The Saudi Export-Import Bank (Saudi EXIM) recently hosted the Berne Union's Country Risk Specialist Meeting in Riyadh from November 19 to 21. This event brought together experts in risk management from the export credit sector to share best practices amid changing global conditions. Specialists from 47 organisations across 33 countries participated, discussing strategies and innovative solutions to enhance industry resilience.

Saudi EXIM's CEO, Eng. Saad bin Abdulaziz Al-Khalb, highlighted the meeting's importance in addressing risks affecting global economic decisions. He stated: "Through such meetings, we can turn challenges into strategic opportunities and enhance our resilience in an ever-changing world. At Saudi EXIM, we remain committed to enabling companies by offering expert financial and non-financial solutions to navigate risks effectively." He also announced the completion of an independent country risk model using advanced tools and machine learning.

The discussions at the meeting focused on critical risks impacting international trade and the global economy, including debt sustainability and geopolitical tensions. Participants explored innovative approaches to risk modelling, as well as shifts in infrastructure, energy, and critical minerals sectors. An overview of Saudi Arabia's National Industrial Strategy was also provided, emphasising economic diversification through investments and promoting local industries.

Eve Hall, Associate Director at Berne Union, remarked on the complexity of today's global risk landscape. She said: "The global risk landscape today is highly volatile and highly interconnected. As we navigate our way around the ongoing transformations connected to energy transition and shifting industrial strategies, the traditional concept of 'country risk' is becoming increasingly complex." Hall praised Saudi EXIM's initiatives using new technology in risk analysis as a prime example of effective collaboration.

Saudi EXIM's membership in Berne Union marks a significant strategic move aligned with Saudi Arabia's commitment to expanding global economic collaboration. This involves building partnerships with leading institutions to tackle challenges in the export credit sector. The bank aims to develop national product exports through partnerships with both national and international financial organisations.

Berne Union works alongside global trade organisations to promote best practices in export credit insurance and maintain trade stability worldwide. Saudi EXIM contributes to diversifying Saudi Arabia's economic base by enhancing non-oil export ecosystems, bridging financial gaps, and reducing export risks. These efforts support the growth of the non-oil national economy in line with Vision 2030.

The meeting underscored the role of institutional resilience in transforming global economic challenges into opportunities for prosperity. By advancing global trade and strengthening international cooperation, the industry aims to develop credit solutions that empower export activities while managing risks effectively.

With inputs from SPA