On the sidelines of the Saudi-Japan Vision 2030 Business Forum in Tokyo, the Saudi EXIM Bank has 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 Saad bin Abdulaziz Al-Khalab, CEO of Saudi EXIM Bank, along with Akihiro Fukudom, CEO of SMBC Bank and Hironori Kamezawa, CEO of MUFG Bank. Al-Khalab stated that this collaboration with Japanese entities is part of the joint efforts to strengthen economic relations between Saudi Arabia and Japan, and achieve the goals set forth in the Saudi-Japan Vision 2030.

During the round-table meeting, which brought together several ministers from both sides, Al-Khalab reviewed Saudi EXIM Bank’s activities with Japanese financial institutions and commercial companies. The purpose of these discussions was to enhance economic and trade relations and identify projects of mutual interest.

Al-Khalab emphasized the critical importance of collaborative efforts between all financial institutions and business sectors to ensure the provision of comprehensive, incentivizing credit solutions. These solutions can accelerate the pace of trade and mutual and global investment activities.

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. The signing of these agreements with Japanese banks represents a significant step towards achieving this goal and strengthening the economic ties between the two countries.

For More Details: https://arabianworldmagazine.com/