The Saudi Export-Import Bank has entered into a memorandum of understanding (MOU) with Nippon to enhance cooperation and relations, focusing on boosting exports between the Kingdom and Japan. The MOU, signed during the visit of Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, aims to provide guidance for the development of collaboration in securing exports and investments.
Signatories to the MOU are Saad bin Abdulaziz Alkhalb, the CEO of the Saudi Export-Import Bank, and Atsuo Koruda, Chairman and CEO of Nippon Export and Investment Insurance. The agreement outlines the commitment to enhance collaborative efforts in providing insurance solutions to support product and service exports between the two countries, with a focus on identifying and mitigating potential risks associated with cross-border transactions, such as political and commercial risks.