Saudi Export-Import Bank Signs Memorandum of Understanding with Export–Import Bank of the United States
Saudi EXIM Bank has signed a Memorandum of Understanding (MoU) with U.S. EXIM, focusing on fostering comprehensive collaboration, strengthening economic ties, and advancing trade relations between the two nations. This MoU was signed on the sidelines of the 2024 Future Minerals Forum held in Riyadh, Saudi Arabia, from January 9 to 11.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240116728733/en/
Saudi EXIM and U.S. EXIM MoU exchange during the Future Minerals Forum (Photo: AETOSWire)
The MoU additionally seeks to foster bilateral trade and strengthen economic ties between the two countries. The MoU outlines a framework for cooperation, collaboration, and sharing of expertise and resources between both entities. Through this agreement, Saudi EXIM and U.S. EXIM seek to facilitate trade financing, support exports, and promote investment opportunities in key sectors. The MoU also promotes knowledge and information sharing, capacity building, and the exchange of best practices, ultimately enhancing the competitiveness and growth of businesses in both Saudi Arabia and the United States.
The signing of the MoU is part of the bank's initiative to establish guiding principles for enhancing cooperation and trade relations in the U.S. market. This initiative focuses on facilitating the export and import of products and services, exchanging information and expertise, and offering support related to credit lines and facilities. These efforts aim to bolster the presence of Saudi non-oil exports in global markets, aligning with the objectives of the Kingdom's Vision 2030 and increasing its contribution to the gross domestic product.
On the occasion, His Excellency Eng. Saad Al-Khalb, CEO of Saudi EXIM Bank, emphasized that the signing of this agreement is part of the bank's commitment to contribute to accelerating global economic growth. This involves strengthening trade relations and enhancing the efficiency of export and import activities with global markets. Al-Khalb highlighted the solid foundations of cooperation and shared interests in the bilateral relations between the Kingdom of Saudi Arabia and the United States of America. He expressed the bank’s commitment to ongoing collaboration to achieve common economic objectives, broaden trade and investment cooperation, and capitalize on promising opportunities, particularly in strategic sectors outlined by the Kingdom's Vision 2030, such as mining, petrochemicals, manufacturing, renewable energy, tourism, financial services, healthcare, and more.
Chair & President of U.S. EXIM, Reta Jo Lewis Esq. commented: “We are thrilled to have successfully inked a bilateral MoU with Saudi EXIM. This milestone paves the way for a mutually beneficial collaboration between our respective banks. The relationship between Saudi Arabia and the U.S. has always been strategically important and we aim to further enhance and solidify this bond.”
Saudi EXIM Bank is actively engaged in establishing strategic partnerships to improve the efficiency of the export and import system, facilitating trade exchanges with both regional and global markets. The bank is dedicated to encouraging trade and investment opportunities for Saudi exporters across diverse sectors. Its primary focus lies in fostering international partnerships to boost the development and diversification of Saudi non-oil exports, enhancing their global competitiveness.
Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240116728733/en/
Contact information
Turki Bin Mgbas
tmgbas@saudiexim.gov.sa
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Nexo Announces Landmark Crypto Partnership with Tennis Australia for Australian Open and Summer of Tennis17.12.2025 09:00:00 CET | Press Release
Nexo, the premier digital assets platform, has entered a landmark multi-year global partnership with Tennis Australia, becoming the Official Crypto Partner of the Australian Open and the Summer of Tennis, including the United Cup, Adelaide International, Brisbane International, and Hobart International. This agreement marks the first time a digital asset company has partnered with a Grand Slam tournament, affirming Nexo’s prestige, long-term vision, and leadership at the intersection of elite sport and digital assets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251216497915/en/ Antoni Trenchev, Co-founder, Nexo, noted: “The Australian Open stands at the intersection of excellence and ambition – precisely where Nexo positions itself. Our partnership reflects a shared commitment to disciplined performance and long-term thinking. We are honored to join Tennis Australia in elevating the sport while showcasing the value of int
Jerrod Chong, Yubico ’ s Chief Operating Officer, appointed as acting CEO17.12.2025 08:05:00 CET | Press Release
Yubico (NASDAQ STOCKHOLM: YUBICO), the creator of the most secure passkeys and the leading provider of hardware authentication security keys, today announced that Jerrod Chong, Yubico’s current Chief Operating Officer, has been appointed to serve as acting CEO. Mattias Danielsson will be stepping down from his role as CEO of Yubico. "I am very pleased that Jerrod has accepted the role of acting CEO. With his extensive experience in cybersecurity and twelve years in senior leadership at Yubico, I am confident that he will lead Yubico on a continued path of growth and he will ensure Yubico maintains and strengthens its leading position. On behalf of the board, I also want to extend our sincere thanks to Mattias Danielsson for his hard work and significant contributions to Yubico’s development as a respected leader and colleague over sixteen years. We deeply appreciate his commitment to Yubico over the years," says Patrik Tigerschiöld, Chairman of the Board. "Yubico is entering an excitin
VeritasChain Unveils VAP Architecture, New Auditability Research, and Confirms Submissions to 58 Regulators Globally17.12.2025 08:00:00 CET | Press Release
VeritasChain today unveiled its Verifiable AI Provenance Framework (VAP) architecture, published new research on verifiable audit trails, and confirmed informational submissions to 58 regulatory authorities across 43 jurisdictions. These milestones advance VeritasChain’s mission to establish a global framework for verifiable auditability in AI and algorithmic trading. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251216433807/en/ Map indicates jurisdictions where regulatory outreach or informational submissions have been made as of Dec 2025. Verifiable AI Provenance Framework (VAP) VAP is a layered assurance architecture designed for independent verification of AI decision-making. It is not a single product, but a framework defining how cryptographic evidence and third-party verification interoperate across diverse systems. The architecture records decision-to-execution events as immutable audit trails, facilitating regulat
Outpost24 Secures New Investment to Scale its Exposure Management and Identity Security Solutions17.12.2025 08:00:00 CET | Press Release
Outpost24, a leader in exposure management and identity security, today announced a new investment from Vitruvian Partners to fuel its next phase of global growth. This significant new funding will accelerate innovation across the company's platform, with a focus on integrating AI capabilities to optimize how security teams identify and neutralize critical vulnerabilities. The only European vendor recognized as an overall leader in the 2025 KuppingerCole Leadership Compass Report for Attack Surface Management, Outpost24 delivers a distinct approach to cyber defence that empowers security teams to gain a complete understanding of their digital and human risk landscape. Last week, Outpost24 announced the acquisition of Infinipoint, a specialist in device identity, posture validation, and secure workforce access. The acquisition marks the company's entry into the Zero Trust Workforce Access market and lays the foundation for its identity security division, Specops, to offer a unified appr
New Published Data Confirms Nemluvio ® (Nemolizumab) Can Rapidly Relieve Itch and Improve Sleep in as Early as Two Days in Both Atopic Dermatitis and Prurigo Nodularis17.12.2025 07:00:00 CET | Press Release
Galderma (SIX: GALD), the pure-play dermatology category leader, today released new clinical data confirming nemolizumab’s rapid onset of action on itch and sleep, with significant improvements observed as early as 48 hours after treatment in some patients with atopic dermatitis and prurigo nodularis.1 The findings from post-hoc analyses of the phase III ARCADIA and OLYMPIA clinical trial programs were published in the Journal of the European Academy of Dermatology and Venereology. Nemolizumab is the first approved monoclonal antibody that specifically targets IL-31 receptor alpha, inhibiting the signalling of IL-31.2,5,6 IL-31 is a neuroimmune cytokine that drives itch and other symptoms in both atopic dermatitis and prurigo nodularis.3,4 These new findings reinforce the critical role of IL-31 pathway inhibition in achieving rapid itch response. Atopic dermatitis and prurigo nodularis are debilitating skin conditions that significantly affect quality of life, with symptoms such as per
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom