Saudi Gazette report
RIYADH — The Saudi EXIM Financial institution has signed an export credit score insurance coverage coverage settlement with Evonik Industries Advertising and marketing Firm (ETM) to assist Saudi non-oil exports.
The insurance coverage coverage will permit the corporate to safe funds on worldwide exports, and allow it to guard towards dangers of non-payment of the worth of services issued to worldwide patrons. The transfer is predicted to bolster Saudi non-oil exports and improve its probabilities of getting into new markets at each the regional and worldwide ranges.
The settlement was signed by the CEO of Saudi EXIM Financial institution, Eng. Saad Al-Khlab, and the Common Supervisor of Evonik Industries, Eng. Abdulmohsen Al-Muhaidib, on the Saudi EXIM Financial institution headquarters in Riyadh.
Eng. Al-Khlab mentioned the settlement comes as an extension of the financial institution’s efficient function in supporting the export actions of the nationwide services and empowering non-oil Saudi exports to broaden and unfold to probably the most highly effective and aggressive markets of the world.
He additionally expressed his happiness in cooperating with Evonik Industries to be able to develop non-oil Saudi exports and improve its unfold within the worldwide markets.
On his half, Eng. Al-Muhaidib has confirmed the significance of the settlement, which is able to present huge alternatives to nationwide enterprises to extend their export actions and enter new worldwide markets with supportive and empowering credit score services for rising sectors.
The export credit score insurance coverage offers the Saudi exporter safety towards the dangers of non-payment by worldwide patrons.
It additionally offers a number of benefits resembling increasing the shopper base in present markets by utilizing insurance coverage protection and safety, entry to new markets, growing the relationships and belief with importers, and enhanced competitiveness with worldwide patrons.