Saudi and Thai EXIM banks sign MoU to foster trade ties

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Saudi Gazette report

SYDNEY โ€” The Saudi Export-Import Financial institution (Saudi EXIM Financial institution) has concluded a Memorandum of Understanding with Thailand Export-Import Financial institution aimed toward enhancing cooperation and growing commerce relations between the 2 international locations.

The MoU, which goals to strengthen import and export actions and business alternate between Saudi Arabia and Thailand, was signed by the Saudi EXIM Financial institution’s CEO Dr. Naif Al-Shammari and Senior Govt Vice President of Thai EXIM Financial institution Benjarong Suwankiri.

The signing of the MoU passed off on the sidelines of Asian Exim Banks Discussion board 2023 in Sydney from 20 to 23 November 2023.

The Memorandum of Understanding goals to outline guiding ideas for growing elements of cooperation and commerce relations between the 2 events within the fields of export and import of services and products.

Moreover, it goals to alternate data and experience, in addition to to supply credit score traces and different credit score services that improve entry of Saudi exports to Asian markets, and in addition allow Asian imports to enter Saudi markets.

Dr. Al-Shammari mentioned the MoU comes inside the framework of the Saudi EXIM Financial institution’s drive to determine extra partnerships with regional and worldwide banks and monetary establishments.

This additionally involves activate the financial institutionโ€™s function in strengthening commerce relations and enabling Saudi exports to increase and unfold regional and world markets, in gentle of rising demand for Saudi-origin merchandise, he mentioned.

The CEO of the Saudi EXIM Financial institution confused the need of exploiting promising commerce and funding alternatives in gentle of the excellence of the economic sectors and the standard of merchandise on either side.

In flip, Suwankiri has praised the efficient function the MoU could have in enhancing alternatives for cooperation and bilateral commerce between Saudi Arabia and Thailand.

The partnership between the banks would contribute to better communication and cooperation between corporations on either side, along with supporting commerce and funding motion between Saudi Arabia and Thailand, Suwankiri mentioned.

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