Jeddah, July 25, 2023, In a significant development, the Saudi Export-Import Bank (Saudi EXIM Bank) has recently inked a memorandum of understanding (MoU) with Mizuho Bank, a prominent financial institution based in Japan. This strategic agreement is poised to foster closer ties and facilitate enhanced cooperation between the two entities. On a momentous occasion, the signing of a Memorandum of Understanding (MoU) witnessed the presence of two esteemed individuals. Eng. Saad bin Abdulaziz Al-Khalb, the Chief Executive Officer (CEO) of the renowned Saudi EXIM Bank, and Seiji Imai, the Chairman of the Board of Directors of Mizuho Bank, graced the event with their distinguished presence. In a bid to bolster trade opportunities and job prospects, a Memorandum of Understanding (MoU) has been established. The primary objective of this agreement is to foster cooperation and active involvement between businesses in two nations. The MoU specifically aims to facilitate the expansion of trade opportunities and job prospects, with a particular focus on enhancing Saudi exports of goods and services. In addition, it fosters the seamless sharing of expertise and information regarding export credit policies and procedures, along with their innovative approaches towards implementing initiatives aimed at product development. During a momentous occasion known as the Saudi-Japanese roundtable, held in the vibrant city of Jeddah, an important Memorandum of Understanding (MoU) was signed. The primary objective of this gathering was to bolster trade and investment relations while also delving into potential collaborative opportunities between the Kingdom of Saudi Arabia and Japan. In a recent statement, Eng. Al-Khalb, a prominent figure in the industry, underscored the significance of the Memorandum of Understanding (MoU) signing. This development serves as a testament to the Saudi EXIM Bank's commendable efforts in forging global alliances aimed at bolstering the expansion and diversification of Saudi Arabia's non-oil exports. By elevating the competitiveness of these exports, the nation's economic landscape is poised to witness substantial growth. Mizuho Bank has received high praise for its exceptional skills, vast network of international relations, and noteworthy contribution to the network of financial institutions supporting the Saudi EXIM Bank. This collaboration plays a crucial role in empowering Saudi exporters and fostering economic growth. In a notable endeavor, the Saudi EXIM Bank is dedicated to bolstering Saudi non-oil exports on the global stage. Its primary objective is to address funding gaps and mitigate risks encountered by exporters, all in pursuit of the ambitious Saudi Vision 2030. This transformative vision seeks to elevate the proportion of non-oil exports to a remarkable 50% of the nation's GDP by the year 2030.
