The Saudi Export-Import Bank (Saudi EXIM) has signed a line of credit agreement with Iraq’s Al Mansour Bank for Investment to support the export of Saudi non-oil goods and services to Iraq and strengthen bilateral trade between the two countries.
The agreement was signed at Saudi EXIM’s headquarters in Riyadh by Eng. Saad bin Abdulaziz Alkhalb, Saudi EXIM CEO, and Dr. Walid Abdel Nour, Managing Director of Al Mansour Bank for Investment.
The agreement forms part of its strategy to provide specialized credit solutions that support the growth of Saudi non-oil exports and improve their competitiveness through partnerships with international financial institutions.
The financing arrangement facilitates imports of Saudi products and services by Iraqi buyers, while providing Saudi exporters with additional opportunities to expand their business in the Iraqi market.
Eng. Saad bin Abdulaziz Alkhalb remarked that, “This agreement reflects Saudi EXIM’s commitment to enabling Saudi non-oil exports and creating new pathways for Saudi exporters to access regional markets, particularly the Iraqi market, thereby contributing to the growth of bilateral trade and strengthening economic relations between the two countries. The agreement also aligns with Saudi EXIM’s strategy of building effective strategic partnerships with international financial institutions to further enhance the presence of Saudi products and services across the region.”
Saudi EXIM has been expanding its network of international partnerships as part of its efforts to strengthen the export financing ecosystem, facilitate trade with regional and global markets, and create new investment and trade opportunities for Saudi businesses.
The bank continues to focus on initiatives that support the growth, diversification, and international competitiveness of Saudi non-oil exports across a wide range of sectors.
