The Saudi Export-Import Bank has signed a memorandum of understanding with the Italian Export Credit Agency, also known as SACE, to boost trade between the two countries.
The agreement was inked by EXIM Bank CEO Saad bin Abdul Aziz Alkhalb and the head of the Italian agency Alessandra Ricci at SACE’s headquarters in Rome.
The MoU aims at creating a framework for mutual reinsurance to enhance the presence of Saudi exports in Italian markets.
The deal also opens up possibilities for cooperation in the areas of professional development, transfer of knowledge of best practices in export credit, and cooperation in international projects that utilize the Saudi and Italian resources in line with the economic goals of the two parties.—AN
