• Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line
Saudi Business News
Tuesday, May 13
23:34
33 °c
Riyadh
No Result
View All Result
Saudi Business News
  • Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line
No Result
View All Result
Saudi Business News
No Result
View All Result

HomeBusinessSaudi EXIM Bank and Kazakhstan’s DBK Forge Strategic Export Alliance

Saudi EXIM Bank and Kazakhstan’s DBK Forge Strategic Export Alliance

Memorandum of Understanding Set to Boost Saudi-Kazakhstan Trade

December 30, 2023
in Business
Reading Time: 1 min read
152
SHARES
1.9k
VIEWS
Share on FacebookShare on XShare on LinkedInShare on Telegram

In a significant move to strengthen trade relations, the Saudi EXIM Bank has recently established a partnership with the Development Bank of Kazakhstan through a Memorandum of Understanding (MoU). This MoU lays the foundation for reciprocal trade enhancement and the expansion of service and product exports between Saudi Arabia and Kazakhstan.

The agreement was formalized by Dr. Naif bin Abdulrahman Al-Shammari, the Deputy CEO of Saudi EXIM Bank, alongside Marat Yelibayev, the Chairman of the Management Board of the Development Bank of Kazakhstan, in a ceremony in Riyadh.

RelatedPosts

Private Aviation Expansion in Saudi Arabia: New Charter Rules

Saudi Arabia Startup Expansion: Key Steps for Success

Esports World Cup: Saudi Arabia’s $70M Gaming Investment

Dr. Al-Shammari elucidated that the MoU will be instrumental in driving the exportation of Saudi non-oil products to international markets. The collaboration is a testament to our commitment to utilizing international partnerships to advance Saudi exports across regional and global markets. Our aim is to collaborate closely with the Development Bank of Kazakhstan to capitalize on the strong industrial sectors and superior product quality of both nations. This partnership is anticipated to support joint ventures as well as provide financing and joint guarantees, he expressed.

From the perspective of Kazakhstan, Yelibayev highlighted the strategic value of the MoU in fostering trade exchanges. He emphasized that the agreement will enhance exports, uncover new opportunities, and back joint ventures that are beneficial to both parties.

The terms of the MoU also include initiatives for both banking institutions to share knowledge, experience, and best practices. This exchange is expected to bolster the development of services and products, facilitate joint research endeavors, and strategize export credit policies. Additionally, it is set to provide training opportunities for the workforce, further supporting the growth of bilateral trade relations.

Tags: Development Bank of Kazakhstaninternational tradeMoUnon-oil exportsSaudi EXIM Bank
Share61Tweet38Share11Share

© 2025 Copyright, Saudi Business News

No Result
View All Result
  • Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line

© 2025 Copyright, Saudi Business News

Go to mobile version