RIYADH: The Saudi EXIM Bank has signed a memorandum of understanding (MoU) with Japan’s Mizuho Bank to boost trade and investment between the two nations, Arab media reported on Tuesday.
According to the Saudi Press Agency (SPA) the MoU was inked during the Saudi-Japanese roundtable, in Jeddah to enhance investment and trade relations between the two nations.
Saudi EXIM Bank, Japan’s Mizuho Bank Ink Agreement to Boost Trade, Investment
Saudi EXIM Bank Chief Executive Officer Saad bin Abdulaziz Al-Khalb and Seiji Imai, head of the board of directors of Mizuho, attended the signing ceremony in Jeddah.
The MoU aims to promote further cooperation to enhance trade opportunities and jobs, including Saudi exports of services and goods. It also allows for the exchange of information and knowledge on export credit policies as well as ideas on how to launch more initiatives to develop new goods and products.
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EXIM Bank Chief Executive Officer Saad bin Abdulaziz Al-Khalb said that the signing of the agreement reflected the Saudi EXIM Bank’s role in forming global partnerships to support the increase and diversification of Saudi Arabia’s non-oil exports. He appreciated Mizuho Bank for its skills and extensive network of global ties.
Saudi EXIM Bank aims to support and boost Saudi non-oil exports on the global market by bridging funding gaps and lessening risks faced by exporters to realize Vision 2030.
