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Saudi EXIM Bank, Qatar Development Bank Sign MoU to Boost Cooperation

Officials are seen at the signing ceremony. (SPA)
Officials are seen at the signing ceremony. (SPA)
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Saudi EXIM Bank, Qatar Development Bank Sign MoU to Boost Cooperation

Officials are seen at the signing ceremony. (SPA)
Officials are seen at the signing ceremony. (SPA)

Saudi Minister of Industry and Mineral Resources and Chairman of the Board of Directors of the EXIM Bank Bandar Ibrahim Alkhorayef held talks with Qatari Minister of Trade and Industry of Qatar Sheikh Mohammed bin Hamad bin Qassim Al Than at the Qatari Ministry of Industry and Trade, reported the Saudi Press Agency on Thursday.

The officials discussed joint efforts to strengthen and develop bilateral relations in the industrial and mining sectors and explored new horizons for cooperation in various fields. They also reviewed industrial development plans in the Gulf countries.

The meeting was attended by Saudi Ambassador to Qatar Prince Mansour bin Khalid bin Farhan, Deputy Minister for Industry Affairs Engineer Khalil bin Ibrahim bin Salamah, and CEO of the Saudi Export-Import Bank Engineer Saad bin Abdulaziz Al-Khalb.

Alkhorayef and Sheikh Mohammed witnessed the signing of a memorandum of understanding (MoU) between the EXIM Bank and Qatar Development Bank.

The MoU aims to boost cooperation in the fields of export and import and explore investment opportunities of common interest.

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Saudi Arabia, Italy Sign 26 Investment MoUs

The Saudi-Italian high-level roundtable took place in AlUla on Sunday. SPA
The Saudi-Italian high-level roundtable took place in AlUla on Sunday. SPA
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Saudi Arabia, Italy Sign 26 Investment MoUs

The Saudi-Italian high-level roundtable took place in AlUla on Sunday. SPA
The Saudi-Italian high-level roundtable took place in AlUla on Sunday. SPA

The Saudi-Italian high-level roundtable took place in AlUla on Sunday, with the participation of Italian Prime Minister Giorgia Meloni, Saudi Minister of Investment Khalid Al-Falih, CEOs, private sector leaders, and representatives from major companies of both countries.

The meeting highlighted the expanding partnership between the two countries and resulted in the signing of 26 memoranda of understanding across key industries, including construction, renewable energy, cultural exchange, and advanced technologies.

It also explored collaborative prospects in green energy, automotive manufacturing, infrastructure development, tourism, agrifood, solar and wind energy projects, sustainable tourism initiatives, and advanced construction technologies.

Italian businesses highlighted their aim to capitalize on an estimated SAR11.8 trillion in Saudi inward investment over the next six years.

Heritage tourism was also a key focus, with participants highlighting Italy’s expertise and Saudi Arabia’s ambition to become a leading global travel destination. As the Kingdom plans to create 1.6 million tourism jobs by 2030, Saudi-Italian partnerships are poised to drive skills development, promote sustainable tourism, and expand opportunities in the private sector.

In 2023, Saudi exports to Italy reached SAR18.5 billion, driven primarily by mineral fuels and petrochemicals, while imports from Italy totaled SAR22 billion, reflecting strong demand for Italian products such as machinery, pharmaceuticals, and advanced engineering solutions.

In 2024, 63 investment licenses were granted to Italian firms in the Kingdom—an increase of 110% over the previous year—underscoring the rising Italian interest in advanced manufacturing, construction, and renewable energy.