The Riyadh International Industry Week 2024 concluded on Thursday with the signing of a number of local and international partnerships and agreements, with the aim to promote the access of Saudi products to global markets.
The Saudi Exports Development Authority signed a memorandum of understanding with the Ministry of Industry and Mineral Resources, with the aim to support local industries and facilitate their access to international markets.
The MOU highlights potential areas of cooperation and seeks to encourage firms that are listed in the Future Factories Program to export their products worldwide.
Meanwhile, Alod Company (a Saudi global shipping gateway) signed an agreement with the National Parcel Stations Network Company (Parcelat) to enable its customers to receive and deliver shipments around the clock.
Alod also signed an agreement with Camion aimed at enabling the latter’s customers to automate international and local shipping operations.
Meanwhile, the Saudi Export and Import Bank was able to find credit solutions exceeding SAR 10 billion ($2.6 billion) during the first 4 months of 2024.
The CEO of the Saudi Export-Import Bank, Eng. Saad Al-Khalab, said that the bank seeks to achieve a fourfold increase of the 2024 target number by 2030.
The Saudi Export and Import Bank, which was established in February 2020, aims to promote the development and diversification of national non-oil exports and increase their competitiveness, by providing export financing, guarantee, and export credit insurance services with competitive advantages.
Speaking to Asharq Al-Awsat on the sidelines of the Riyadh International Industry Week 2024, Al-Khalab said that the bank offered many products that help Saudi exporters expand globally and reduce their export risks, which facilitates their access to new markets.
