Signing an insurance policy for the development of Saudi non-oil exports

The Saudi Export-Import Bank signed an export credit insurance policy with the “Evonik” manufacturing and marketing company, which allows the company to secure payments on international exports, and enables it to cover the risks of non-payment of the same value of products and services issued to international buyers, which contributes to the development of Saudi non-oil exports, And increase its chances of entering new markets at the regional and international levels.

The two sides were represented by the CEO of the Saudi Export-Import Bank, Engineer Saad Al-Khalab, and the General Manager of Evonik Manufacturing Company, Eng. Abdul Mohsen Al-Muhaidib, at the headquarters of the Saudi Export-Import Bank in Riyadh.

Eng. Al-Khalab explained that the agreement comes as a continuation of the bank’s effective role in supporting the export activities of national facilities, and enabling Saudi non-oil exports to expand and spread in the most competitive markets in the world, expressing his happiness in cooperation with “Evonik Industrialization” in order to develop the rate of Saudi non-oil exports. oil, and enhance its spread in the global markets.

For his part, Al-Muhaideb stressed the importance of the agreement in terms of the wide opportunities that it will provide to national enterprises to increase their export activities, and to enter new international markets and with supportive and enabling credit facilities for emerging sectors. It is noteworthy that the export credit insurance policy provided by the Saudi Export-Import Bank provides the Saudi exporter with coverage against the risks of non-payment of the international buyer. Increase competitiveness with international buyers.

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