Saudi and Italian ECAs sign MoU to enhance trade cooperation

(Arabian Business, Abu Dhabi, 27 January 2023) The agreement envisages establishing a framework for mutual reinsurance to enhance the presence of Saudi exports in Italian markets. Saudi Export-Import Bank CEO Saad bin Abdul Aziz Alkhalb hailed the agreement as a step forward in the bank’s efforts to improve and diversify Saudi non-oil exports and enhance their competitiveness, in addition to providing funding for Saudi exports and insurance services and export credit insurance with competitive advantages in line with the targets of the Kingdom’s Vision 2030 to increase the value of non-oil exports from 16 percent to 50 percent of the non-oil GDP.