SAUDI-EXIM-BANK
Saudi EXIM Bank has signed a Memorandum of Understanding (MoU) with U.S. EXIM, focusing on fostering comprehensive collaboration, strengthening economic ties, and advancing trade relations between the two nations. This MoU was signed on the sidelines of the 2024 Future Minerals Forum held in Riyadh, Saudi Arabia, from January 9 to 11.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240116728733/en/
Saudi EXIM and U.S. EXIM MoU exchange during the Future Minerals Forum (Photo: AETOSWire)
The MoU additionally seeks to foster bilateral trade and strengthen economic ties between the two countries. The MoU outlines a framework for cooperation, collaboration, and sharing of expertise and resources between both entities. Through this agreement, Saudi EXIM and U.S. EXIM seek to facilitate trade financing, support exports, and promote investment opportunities in key sectors. The MoU also promotes knowledge and information sharing, capacity building, and the exchange of best practices, ultimately enhancing the competitiveness and growth of businesses in both Saudi Arabia and the United States.
The signing of the MoU is part of the bank's initiative to establish guiding principles for enhancing cooperation and trade relations in the U.S. market. This initiative focuses on facilitating the export and import of products and services, exchanging information and expertise, and offering support related to credit lines and facilities. These efforts aim to bolster the presence of Saudi non-oil exports in global markets, aligning with the objectives of the Kingdom's Vision 2030 and increasing its contribution to the gross domestic product.
On the occasion, His Excellency Eng. Saad Al-Khalb, CEO of Saudi EXIM Bank, emphasized that the signing of this agreement is part of the bank's commitment to contribute to accelerating global economic growth. This involves strengthening trade relations and enhancing the efficiency of export and import activities with global markets. Al-Khalb highlighted the solid foundations of cooperation and shared interests in the bilateral relations between the Kingdom of Saudi Arabia and the United States of America. He expressed the bank’s commitment to ongoing collaboration to achieve common economic objectives, broaden trade and investment cooperation, and capitalize on promising opportunities, particularly in strategic sectors outlined by the Kingdom's Vision 2030, such as mining, petrochemicals, manufacturing, renewable energy, tourism, financial services, healthcare, and more.
Chair & President of U.S. EXIM, Reta Jo Lewis Esq. commented: “We are thrilled to have successfully inked a bilateral MoU with Saudi EXIM. This milestone paves the way for a mutually beneficial collaboration between our respective banks. The relationship between Saudi Arabia and the U.S. has always been strategically important and we aim to further enhance and solidify this bond.”
Saudi EXIM Bank is actively engaged in establishing strategic partnerships to improve the efficiency of the export and import system, facilitating trade exchanges with both regional and global markets. The bank is dedicated to encouraging trade and investment opportunities for Saudi exporters across diverse sectors. Its primary focus lies in fostering international partnerships to boost the development and diversification of Saudi non-oil exports, enhancing their global competitiveness.
Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240116728733/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Australian Defence Force Secures Satellite Communications on SES IS-2212.1.2026 22:30:00 CET | Press release
New agreement for uninterrupted UHF connectivity for Australian Defence Force through 2033, With Options Extending to 2041 Satellite communications solutions provider SES will provide secure uninterrupted satellite communications to the Australian Defence Force (ADF) for a minimum of 16 years thanks to a new extended agreement. The service will be provided via the SES Intelsat 22 satellite and an ultra-high frequency (UHF) military communications payload. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260112137182/en/ Assistant Secretary Space Systems Branch, Michael Hunt, formalizes contract negotiations for the through-life support of the IS-22 satellite with Rory Welch, senior vice-president of service delivery at SES Space and Defense. Photos: Corporal Annika Smit Under the renewed arrangement, SES will reposition the IS-22 satellite to a new orbital slot specified by the ADF, continuing a mission that has been the corne
NetApp Appoints Paul Fipps to the Board of Directors12.1.2026 22:05:00 CET | Press release
NetApp® (NASDAQ: NTAP), the intelligent data infrastructure company, today announced that Paul Fipps, President of Global Customer Operations at ServiceNow, has joined its Board of Directors. The board now has ten directors, nine of whom are independent, and 50% of whom have been appointed within the last five years. Fipps brings more than 20 years of experience driving technology-enabled growth and customer transformation. At ServiceNow, he currently leads global sales, customer success, partner ecosystems, and field operations. He previously served as EVP of Worldwide Sales at ServiceNow and as President of Under Armour Connected Fitness and Chief Experience Officer at Under Armour, overseeing global direct-to-consumer, connected fitness, and digital experiences. He also previously served on the advisory board of Quantum Metric. Fipps holds a B.S. in Information Systems, an MBA from the University of Baltimore, and is a graduate of The Wharton School’s Advanced Management Program. “P
FDA Accepts New Drug Application for Pimicotinib for the Treatment of Tenosynovial Giant Cell Tumor12.1.2026 20:00:00 CET | Press release
Not intended for Canada-, UK- or US-based media Merck, a leading science and technology company, announced today that the U.S. Food and Drug Administration (FDA) has accepted the company’s new drug application (NDA) for pimicotinib as a systemic treatment for patients with tenosynovial giant cell tumor (TGCT). The application is based on the primary results and longer-term follow-up of the global Phase 3 MANEUVER study, which demonstrated deep and durable tumor responses and meaningful improvements in clinical outcomes with pimicotinib. “With pimicotinib, we have an opportunity to significantly advance care for people living with TGCT, a painful and debilitating disease that has few effective and well-tolerated treatment options beyond surgery,” said David Weinreich, Global Head of R&D and Chief Medical Officer for the Healthcare business of Merck. “Based on clinical trial results showing not only a reduction in tumor burden, but also the ability to help alleviate symptoms like pain an
Fabentech receives Marketing Authorization for Ricimed®, an antidote against ricin poisoning12.1.2026 19:32:00 CET | Press release
First Marketing Authorization granted in France for the treatment of ricin poisoning, one of the most toxic natural substances in the world and a recognized priority biological threat. Ricimed® addresses a previously unmet medical need in the management of severe and potentially fatal ricin intoxications.Supported by the French Ministry of the Armed Forces and Veterans Affairs (the Directorate General of Armaments and the French Military Health Service), the development of Ricimed® illustrates Fabentech’s transition to a new scale and, with recent support from the European HERA Invest program, reinforces its positioning as a reference player in medical countermeasures against biological threats, serving both civilian and military markets. Fabentech, a French biopharmaceutical company specializing in medical countermeasures against biological threats, today announces that it has been granted Marketing Authorization for Ricimed®, a treatment for ricin poisoning. This press release featur
Traxys Group and the Shareholders of Comax2 AB - the holding company of Carbomax AB - sign Share Purchase Agreement to sell 100% interests to Traxys Group12.1.2026 19:20:00 CET | Press release
Traxys S.à.r.l., Investment Aktiebolaget Spiltan and other major shareholders of Comax 2 AB – the holding company of Carbomax AB –are pleased to announce that they have signed a Share Purchase Agreement (SPA) to sell 100% interests to Traxys Group. Carbomax AB is a leading Swedish trading house and industrial operator specializing in ferroalloys, carbon products and briquettes. The transaction aims to strengthen Traxys’ presence in the Scandinavian market and support the region’s transition toward sustainable steel production. Closing of the transaction is expected to occur in the first quarter 2026 following clearance by Swedish authorities, including foreign direct investment and antitrust approvals. Carbomax serves regional steel plants and most of foundries across the Nordics. With its strategic location near Västerås harbor and integrated processing capabilities Carbomax is well-positioned to capitalize on growing demand for green steel and sustainable raw materials. Mark Kristoff
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom