Saudi EXIM Bank signs cooperation agreements with Japanese banks to boost non-oil exports
In a major move at the Saudi-Japan Vision 2030 Business Forum in Tokyo, Saudi EXIM Bank sealed two significant cooperation agreements with SMBC Business Banking and MUFG Bank.
The goal of these agreements is to enhance collaboration and create co-financing opportunities to drive non-oil exports in key markets, as confirmed by Saudi EXIM Bank.
The CEO of Saudi EXIM Bank, Saad bin Abdulaziz Al-Khalab, along with Akihiro Fukudom, CEO of SMBC Bank, and Hironori Kamezawa, CEO of MUFG Bank, signed the two agreements separately, the statement affirmed.
Al-Khalab emphasized, “This partnership with Japanese entities is a crucial step in fortifying economic ties between the two nations and achieving the Saudi-Japan Vision 2030. The acceleration of commercial projects between our countries towards broader horizons is a testament to the strong economic standing and promising investment opportunities.”
During a roundtable meeting attended by various ministers from both sides, Al-Khalab highlighted Saudi EXIM Bank’s collaborations with Japanese financial institutions and commercial companies to strengthen economic and trade relations and identify mutually beneficial projects.
In the financial sector’s roundtable meeting, Al-Khalab stressed the urgent need for collaborative efforts among all financial institutions and business sectors to provide comprehensive, stimulating credit solutions that can expedite trade and investment activities on a global scale.
Saudi EXIM Bank is dedicated to boosting the Kingdom’s non-oil economy in line with Vision 2030. The bank’s focus is on empowering Saudi non-oil exports to expand and reach global markets by bridging financing gaps and mitigating export risks.