Saudi EXIM signs MoU with NEXI to enhance mutual exports

The Saudi Export-Import (Saudi EXIM) Bank and Nippon Export and Investment Insurance Company (NEXI), a Japanese government-owned insurance corporation signed an MOU to establish guiding principles for cooperation and bilateral relations and enhance the export of products and services between both countries.

Under the MoU, which was signed during the visit of Bandar Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources, both countries aim to strengthen the cooperation by providing insurance solutions to support the export of products and services between Saudi Arabia and Japan, Saudi EXIM said in a statement. Through this partnership, they will work together to identify and mitigate various risks associated with cross-border transactions, such as political and commercial risks.

Saudi EXIM and NEXI aim to promote and facilitate smoother international trade and investment activities while minimizing potential financial losses for businesses involved by providing insurance coverage, export credit insurance, and investment insurance.