EXIM Bank, Natixis CIB ink pact to back Saudi exporters in global markets

By Amirtha P S, Desk Reporter
  • Follow author on
Representational Image

Saudi Arabia’s leading financial agency Saudi Export-Import Bank (EXIM Bank) has signed a Memorandum of Understanding (MoU) with the French corporate and investment bank, Natixis CIB with an aim of enhancing competitiveness capability of Saudi exporters in global markets.

The MoU seeks to facilitate the commercial businesses of exporters and expand their scope at the global level in line with the targets of Saudi Vision 2030 of building a more diversified and sustainable economy.

The agreement also aims at basic cooperation fields between EXIM Bank and Natixis CIB, supporting the companies in Saudi and increasing their awareness through a series of symposiums and workshops focusing on the significance of commercial and political risk management in the international trade, collaboration in developing export finance solutions, in addition to organized dialogue and exchanging market information between the two parties.

The MoU was signed by the Chief Business Officer of EXIM Bank, Dr. Naif Al-Shammari and Regional Head of Middle East at Natixis CIB, Ms. Barbara Riccardi, in the presence of senior employees of the two sides.

The collaboration is in line with the bank’s ambitious plans to build more strategic partnerships with global players in a way that accords with Saudi Vision 2030, especially to boost the presence of Saudi non-oil products in external markets and expand the investment opportunities.

Commenting on the MoU, Dr. Al-Shammari stressed that in light of boosting attention to develop the local content and empower the private sector in Saudi Arabia, in a way that accords with targets of Saudi Vision 2030 in diversifying and expanding the economic base, EXIM Bank continues its efforts in building alliances with leading financial institutions globally to enhance the contributions of the non-oil exports and products in supporting the national economy.

Related: Abu Dhabi Chamber, Oman explore avenues to expand bilateral trade relations