RIYADH, Nov 23 (Arab News): Trade exchange between Saudi Arabia and Thailand is on track to flourish following a new agreement signed by the Saudi EXIM Bank.
Inked with its counterpart, the EXIM Bank of Thailand, the memorandum of understanding aims to enhance aspects of cooperation in export and import-related activities, the Saudi Press Agency reported.
Signed on the sidelines of the Asian EXIM Banks Forum held in Sydney from Nov. 20-23, the new deal falls in line with the Saudi EXIM Bank's vision to further empower the Kingdom's non-oil economy in global markets.
It also aligns well with its mission to enable Saudi exports to reach global markets by bridging financing gaps and mitigating export risks. According to Deputy CEO of the Saudi EXIM Bank Naif Bin Abdulrahman Al-Shammari, the agreement is part of the institution's objective to establish more partnerships with regional and global banks and financial establishments.
The MoU will see each party work hand in hand to exchange information and expertise.
Under the terms of the agreement, both sides will also provide lines of credit and other credit facilities that enhance Saudi exports' access to Asian markets and enable Asian imports to enter Saudi markets.
The new partnership will contribute to achieving communication and cooperation between companies in the Kingdom and Thailand.
Saudi EXIM Bank, Thai counterpart sign MoU to propel trade exchange
FE Team | Published: November 23, 2023 22:43:49
Saudi EXIM Bank, Thai counterpart sign MoU to propel trade exchange
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