Saudi EXIM signs deal with Italian Export Credit Agency to boost trade

Saudi EXIM signs deal with Italian Export Credit Agency to boost trade
The agreement was signed in Rome by Saudi EXIM Bank CEO Saad bin Abdul Aziz Alkhalb and SACE CEO Alessandra Ricci. (SPA)
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Updated 27 January 2023

Saudi EXIM signs deal with Italian Export Credit Agency to boost trade

Saudi EXIM signs deal with Italian Export Credit Agency to boost trade
  • Agreement in line with Kingdom’s economic diversification plans

RIYADH: The Saudi Export-Import Bank has signed a memorandum of understanding with the Italian Export Credit Agency, also known as SACE, to boost trade between the two countries.

The agreement was inked by EXIM Bank CEO Saad bin Abdul Aziz Alkhalb and the head of the Italian agency Alessandra Ricci at SACE’s headquarters in Rome.

The MoU aims at creating a framework for mutual reinsurance to enhance the presence of Saudi exports in Italian markets.

The deal also opens up possibilities for cooperation in the areas of professional development, transfer of knowledge of best practices in export credit, and cooperation in international projects that utilize the Saudi and Italian resources in line with the economic goals of the two parties.

Alkhalb hailed the agreement as a step forward in the bank’s efforts to improve and diversify Saudi non-oil exports and enhance their competitiveness, in addition to providing funding for Saudi exports and insurance services and export credit insurance with competitive advantages.

He also underlined the bank’s efforts to realize the Saudi Vision 2030 through developing and diversifying the list of financial partners and benefiting from their services and international relations to enhance the presence of Saudi products in the European and global markets, and increasing opportunities for trade exchange between the Kingdom and Italy.

EXIM Bank is one of the main pillars in supporting Saudi exports and increasing their impact on the development of the national economy, in line with the targets of the Kingdom’s Vision 2030 to increase the value of non-oil exports from 16 percent to 50 percent of the non-oil gross domestic product.

The latest agreement between Saudi Arabia and Italy comes a month after the two celebrated 90 years of diplomatic ties.

The Kingdom is the European country’s biggest trading partner in the Gulf and the second-biggest in the wider Arab world.

The value of bilateral trade was $8.6 billion in 2021 — a 32.9 percent increase compared with 2020.

In an interview with Arab News to mark the 90th anniversary in December, Italy’s foreign minister and deputy prime minister, Antonio Tajani, said: “We both believe that broader prosperity, security and cohesion may be reached if the countries succeed in jointly addressing common challenges, such as terrorism and irregular migration flows, and by taking advantage of opportunities such as the digital and green transitions.”

 


Saudi show ‘Tash Ma Tash’ returns, giving viewers a blast from the past

Saudi show ‘Tash Ma Tash’ returns, giving viewers a blast from the past
Updated 12 sec ago

Saudi show ‘Tash Ma Tash’ returns, giving viewers a blast from the past

Saudi show ‘Tash Ma Tash’ returns, giving viewers a blast from the past

Saudi nationals and residents eligible for e-visa to Japan starting Monday

E-visa Japan is to become available to Saudi nationals and residents. (AFP/File Photo)
E-visa Japan is to become available to Saudi nationals and residents. (AFP/File Photo)
Updated 29 min 31 sec ago

Saudi nationals and residents eligible for e-visa to Japan starting Monday

E-visa Japan is to become available to Saudi nationals and residents. (AFP/File Photo)
  • In 2015 Japan was named the third-largest trading partner of Saudi Arabia

DUBAI: Saudi nationals and residents will be eligible for electronic visas to Japan starting March 27.

Mutual interests and official diplomatic relations between Saudi Arabia and Japan have been present for decades; both countries are mutually essential for each other’s political and economic growth.

The embassy of Japan in Saudi Arabia recently announced that all Saudi nationals and people who reside in Saudi Arabia will be eligible to apply for a visa to Japan electronically; prior to that announcement, applications had to be done in the Japanese embassy or consulate.

Other than speeding up and streamlining the application process, this new decision will further enhance bilateral relations between both countries and facilitates entry and exit for all purposes.

The process includes a form that requires applicants to fill out basic information such as name, contacts, passport details, and travel information.

In 2015 Japan was named the third-largest trading partner of Saudi Arabia; both countries share many common interests that allow them to maximize benefits and enhance bilateral relations.

* This story originally appeared on Arab News Japan, click here to read it.


Saudi king, crown prince donate $40m to new charitable housing campaign

Saudi king, crown prince donate $40m to new charitable housing campaign
Updated 24 March 2023

Saudi king, crown prince donate $40m to new charitable housing campaign

Saudi king, crown prince donate $40m to new charitable housing campaign
  • The campaign was launched by the Jood Eskan platform

RIYADH: King Salman and Crown Prince Mohammed bin Salman inaugurated the Charitable Jood Eskan Subscription campaign and made donations totalling $40 million, the Saudi Press Agency reported on Thursday.

The campaign was launched by the Jood Eskan platform, and the monarch donated SR100 million ($27m), while the crown prince gave SR50 million ($13m) toward the provision of housing for needy families.

Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail said: “This generous, unsurprising contribution from the king and the crown prince came to inaugurate the good housing charitable subscription campaign, and an affirmation of their support for innovative humanitarian initiatives, in which the roles of governmental, private, and non-profit agencies are integrated.”

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KSrelief distributes more than 44 tons of food aid around the world for Ramadan

KSrelief distributes more than 44 tons of food aid around the world for Ramadan
Updated 24 March 2023

KSrelief distributes more than 44 tons of food aid around the world for Ramadan

KSrelief distributes more than 44 tons of food aid around the world for Ramadan

Riyadh: The King Salman Humanitarian Aid and Relief Center (KSrelief) distributed more than 44 tons of food aid packages around the world as part of the Ramadan 2023 food distribution project.
In Benin, 12 tons of food packages were distributed in the city of Glazoué. And in the city of Tetovo, North of Macedonia, 19 tons of food packages were provided.
In Jakarta 7.8 tons of food packages were distributed along with 6.3 tons of food packages in Skenderaj city, in Kosovo.
While in Sudan, Chad and Ghana 1,900 food packages were given out to needy families.
And in Pakistan the center distributed 1,450 shelter bags in the Sindh Province.


Saudi Civil Defense warns of thunderstorms, dust storms

Saudi Civil Defense warns of thunderstorms, dust storms
Updated 24 March 2023

Saudi Civil Defense warns of thunderstorms, dust storms

Saudi Civil Defense warns of thunderstorms, dust storms

JEDDAH: The General Directorate of Saudi Civil Defense has urged residents to take precautionary measures against thunderstorms and dust storms that are likely to affect some regions between Friday and Monday. 

The organization, acting on information from the National Center of Meteorology, said the Makkah region will be affected by moderate to heavy rains that may lead to torrential flows. The areas of Taif, Maysan, Adham, Al-Khurmah, Al-Ardiyat, Turbah, Rania, Al-Muwayh, Qia, Khulais, Al-Kamil, Al-Jumum, Bahra, Al-Lith, and Al-Qunfudhah are expected to be hit.

The Riyadh region is also expected to suffer, including the capital, Al-Kharj, Wadi Al-Dawasir, As-Sulayyil, Afif, Al-Duwadmi, Shaqra, Al-Zulfi, Al-Majma’ah, Al-Quwa’iyah, Al-Ghat, Hotat Bani Tamim, Al-Aflaj, Thadiq, Ramah, Al-Muzahimiyah, Al-Diriyah, Dhurma, Huraymila and Al-Dalam.

Authorities stressed the need to stay away from areas where torrents gather, and not to swim in dangerous places. 

Residents have been advised to adhere to instructions announced through the media. 

The regions of Asir, Al-Baha, Jazan, Najran, Madinah, Hail, Tabuk, Al-Jawf, the northern borders, Al-Qasim and the eastern borders are also expected to be affected.

Moderate rains and winds resulting in dust storms are expected in the Makkah region, including Jeddah and Rabigh.

The Civil Defense has stressed the need to stay away from areas where torrents gather, and not to swim in dangerous places.

Residents have been advised to adhere to instructions announced through the media.