Saudi EXIM bolsters trade ties between Saudi Arabia & Vietnam

By Shilpa Annie Joseph, Official Reporter
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Saudi EXIM Boosts Trade Exchange
Rep. Image | Courtesy: Matthis Volquardsen @ Pexels

A delegation from the Saudi Export-Import Bank (Saudi EXIM) concluded a visit to the Socialist Republic of Vietnam, that is aimed at discussing opportunities for mutual cooperation in the fields of export and import.

Furthermore, the visit intends to enhance trade exchange, and economic growth between the two countries.

The delegation held intensive meetings over three days with top executive officials representing major financial institutions and commercial banks in Vietnam to explore available opportunities to enhance the export and import system between both sides, develop strategic partnerships, and review credit solutions, financial and insurance, to promote trade relations and economic growth for both parties.

“The meetings with Vietnamese authorities included the following institutions: the Vietnam Development Bank, the Joint Stock Commercial Bank for Foreign Trade of Vietnam, the Vietnam Bank for Agriculture and Rural Development, the Vietnam Joint Stock Commercial Bank for Industry and Trade, the Vietnam Prosperity Joint Stock Commercial Bank, and the Vietnam Association of Seafood Exporters and Producers,” as per the statement.

These meetings focused on discussing ideal opportunities for mutual cooperation, outlining the general framework for developing the export and import system between both sides, setting strategic goals, and exploring potential areas and opportunities.

This step is part of the Saudi EXIM’s efforts to intensify initiatives aimed at expanding strategic partnerships and leveraging capabilities to contribute to increasing the non-oil exports of the non-oil GDP and diversifying national income sources in line with the Saudi Vision 2030.

According to the statement, “Exports in Saudi Arabia are considered among the key drivers of economic growth, especially at a time when Saudi exports are experiencing rapid growth, especially in foreign markets.”

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