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Howden, Allianz Trade, and Saudi EXIM Bank have signed an Initial Framework Agreement to support Saudi Arabia’s economic growth and international trade. The agreement will provide non-payment insurance for international exporters and banks, supporting the trade of non-oil products to Saudi Arabia. This is in line with Saudi Arabia’s National Industrial Strategy, which aims to diversify the country’s industrial base, boost non-oil exports, and attract foreign investment. The CEOs of the three firms signed the agreement on Wednesday 29th May, at Howden’s London office. Saudi EXIM Bank’s CEO, Eng. Saad Alkhalb, expressed that the agreement is part of the Saudi Export-Import Bank’s Bridges Initiative, which aims to build and strengthen supply chain bridges between Saudi Arabia and the world. David Howden, CEO of Howden, stated that the London market’s expertise has been critical in developing these insurance arrangements, supporting global trade and strengthening supply chains. Marine Bochot, CEO Northern Europe of Allianz Trade, emphasized the commitment to supporting foreign exporters targeting growth opportunities in Saudi Arabia.
