RIYADH: The Saudi Export-Import Bank and UK Export Finance have signed an agreement to help British and Saudi businesses secure international contracts.
Under the deal, UKEF will offer support for the export of Saudi products and provide significant opportunities to engage in trade with third countries, according to a UKEF press release.
“Saudi Arabia is diversifying its exports capability intensely as part of Vision 2030 strategy. The two countries are already working closely together to strengthen trade ties to support the growth in export,” Saad Alkhalb, CEO of Saudi Export-Import Bank, said
“This partnership is a major boost to our trading relationship and to businesses in both countries,” Louis Taylor, CEO of UKEF, said.
Founded in 2020, Saudi EXIM is one of the world’s newest export credit agencies, whereas UKEF, established in 1919, is one of the oldest.
