Saudi EXIM And Indonesia Eximbank Sign MoU To Strengthen Trade Relations And Explore Joint Projects

The Saudi Export-Import Bank (Saudi EXIM) and the Indonesia Eximbank have signed a memorandum of understanding (MoU) to enhance trade cooperation between their countries. The signing took place during an official visit by Bandar AlKhorayef, Saudi Arabia's Minister of Industry and Mineral Resources, to Indonesia. This agreement aims to strengthen economic ties and explore collaborative opportunities.

Eng. Saad AlKhalb, CEO of Saudi EXIM, and Sukatmo Padmosukarso, Acting Executive Director of Indonesia Eximbank, formalised the MoU. The agreement outlines several areas for collaboration, such as encouraging business interactions between companies from both nations and supporting joint projects. It also focuses on sharing information and best practices related to export credit policies.

AlKhalb highlighted the significance of this MoU in enhancing trade efficiency and facilitating bilateral commerce. He stated: "This MoU marks a significant step toward improving export and import efficiency and facilitating bilateral trade. It also reflects our commitment to enhancing partnerships and commercial exchange between the two countries." The agreement is expected to boost trade development and joint investment projects across various sectors.

Padmosukarso expressed optimism about addressing global challenges through this partnership. He said: "We aim to partner in addressing global challenges, especially climate change. Indonesia is committed to achieving Net Zero Emissions by 2060, while Saudi Arabia’s Vision 2030 shares a similar ambition." He emphasised potential collaborations in green finance, halal trade, and infrastructure development.

The MoU is seen as a catalyst for real cooperation beyond ceremonial gestures. Padmosukarso added: "This MoU is more than a ceremonial step—it marks the beginning of real, actionable cooperation." Both sides are eager to realise joint projects in renewable energy, co-financing, and export ventures with dedicated teams working together.

During the visit, Saudi EXIM engaged with Indonesian financial institutions and trade organisations to expand trade prospects further. These meetings aimed at strengthening economic cooperation and supporting local exporters in scaling their international operations. This initiative aligns with Saudi Arabia's goal of enhancing the global reach of its non-oil exports.

Supporting Vision 2030 Goals

As part of its developmental role under the National Development Fund, Saudi EXIM Bank plays a crucial role in diversifying Saudi Arabia's economic base. By bolstering the export ecosystem for non-oil products and services, bridging financing gaps, and mitigating export risks, the bank significantly contributes to Vision 2030 objectives focused on sustainable economic growth.

This strategic collaboration between Saudi EXIM and Indonesia Eximbank underscores both nations' commitment to fostering robust economic partnerships. It paves the way for future initiatives that will benefit both economies while addressing shared global challenges.

With inputs from SPA