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Saudi Arabia, Egypt Sign Agreement on Maritime Connectivity at Global Logistics Forum

Saudi Minister of Transport and Logistic Services and Chairman of the Board of Directors of the Transport General Authority Saleh Al-Jasser and Egypt’s Minister of Transport and Industry Lieutenant General Kamel Al-Wazir signed the MoU on the sidelines of the first edition of the Global Logistics Forum in Riyadh. (SPA)
Saudi Minister of Transport and Logistic Services and Chairman of the Board of Directors of the Transport General Authority Saleh Al-Jasser and Egypt’s Minister of Transport and Industry Lieutenant General Kamel Al-Wazir signed the MoU on the sidelines of the first edition of the Global Logistics Forum in Riyadh. (SPA)
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Saudi Arabia, Egypt Sign Agreement on Maritime Connectivity at Global Logistics Forum

Saudi Minister of Transport and Logistic Services and Chairman of the Board of Directors of the Transport General Authority Saleh Al-Jasser and Egypt’s Minister of Transport and Industry Lieutenant General Kamel Al-Wazir signed the MoU on the sidelines of the first edition of the Global Logistics Forum in Riyadh. (SPA)
Saudi Minister of Transport and Logistic Services and Chairman of the Board of Directors of the Transport General Authority Saleh Al-Jasser and Egypt’s Minister of Transport and Industry Lieutenant General Kamel Al-Wazir signed the MoU on the sidelines of the first edition of the Global Logistics Forum in Riyadh. (SPA)

Saudi Arabia and Egypt signed on Monday a memorandum of understanding on maritime connectivity.

Saudi Minister of Transport and Logistic Services and Chairman of the Board of Directors of the Transport General Authority Saleh Al-Jasser and Egypt’s Minister of Transport and Industry Lieutenant General Kamel Al-Wazir signed the MoU on the sidelines of the first edition of the Global Logistics Forum in Riyadh.

The forum is being held from October 12 to 14 under the slogan "Reshaping the Global Map of Logistics".

The MoU will boost cooperation and joint work in maritime connectivity for passenger transport. It stipulates exchange of expertise to qualify specialized cadres in emerging fields, develop the quality and efficiency of maritime transport services, and improve the experience of their beneficiaries.

The areas of cooperation include yacht and marine passenger ship transport activities, as well as passenger ferries.

Attending the forum were ministers and senior officials, leaders of international organizations and industrial unions, as well as experts, academics and analysts.

With 130 speakers and 80 exhibitors representing 30 countries, the forum showcases a wide range of perspectives and expertise.

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Saudi EXIM Bank, DL Hudson Sign $50 Million Credit Facility Agreement

The agreement was signed by Director General of the Finance Department at Saudi EXIM Bank Eng. Abdulatif Al-Ghaith and Chief Operating Officer of DL Hudson Limited Moises Portillo, in London. (SPA)
The agreement was signed by Director General of the Finance Department at Saudi EXIM Bank Eng. Abdulatif Al-Ghaith and Chief Operating Officer of DL Hudson Limited Moises Portillo, in London. (SPA)
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Saudi EXIM Bank, DL Hudson Sign $50 Million Credit Facility Agreement

The agreement was signed by Director General of the Finance Department at Saudi EXIM Bank Eng. Abdulatif Al-Ghaith and Chief Operating Officer of DL Hudson Limited Moises Portillo, in London. (SPA)
The agreement was signed by Director General of the Finance Department at Saudi EXIM Bank Eng. Abdulatif Al-Ghaith and Chief Operating Officer of DL Hudson Limited Moises Portillo, in London. (SPA)

The Saudi EXIM Bank signed Sunday a $50 million credit facility agreement with DL Hudson Limited, aiming to promote the growth of Saudi non-oil exports by connecting local exporters with international buyers in over 22 markets worldwide.

Under the agreement, Saudi EXIM Bank, through its International Buyer Finance Product, will provide financing to DL Hudson Limited to purchase Saudi products and distribute them to customers across various global markets.

The agreement was signed by Director General of the Finance Department at Saudi EXIM Bank Eng. Abdulatif Al-Ghaith and Chief Operating Officer of DL Hudson Limited Moises Portillo, in London.

Al-Ghaith said: “This agreement comes within the framework of the bank's endeavor to provide financing solutions that contribute to the development of Saudi non-oil exports and boost their competitiveness in global markets.”

He highlighted the “agreement's role in promoting exports across several key national economic sectors and creating new trade opportunities for local exporters by linking them to many global markets.”

Saudi EXIM Bank, a development bank under the National Development Fund, plays a key role in diversifying the Kingdom’s economic base.

It strengthens the export system for national non-oil products and services by addressing financing gaps and minimizing export risks. These efforts support the growth of the non-oil economy in line with Saudi Vision 2030.