Elevate trade exchange through a partnership between Saudi EXIM Bank and its Swiss counterpart.

Elevate trade exchange through a partnership between Saudi EXIM Bank and its Swiss counterpart.

RIYADH: In order to increase the Kingdom’s competitiveness in the global market, Saudi EXIM Bank and its partnership Swiss equivalent have inked a deal to increase non-oil exports.

This comes after Saudi EXIM signed reinsurance agreements with a group of international reinsurers headed by Swiss Re in Zurich. These agreements will broaden insurance operations and offer insurance protection to bolster Saudi exporters’ expansion into international markets in partnership with the biggest reinsurers globally. The United Nations database on international trade indicates that Saudi Arabia and Switzerland have a strong trade relationship. In 2023, the Kingdom’s exports to the European country amount to $810.67 million.

The Kingdom’s principal exports to Switzerland were aluminum, valued at $139.39 million, and precious metals and pearls, with respective values of $587.57 million and $139.39 million. However, $6.77 billion worth of Swiss exports were made to Saudi Arabia in 2023.

The United Nations database on international trade indicates that Saudi Arabia and Switzerland have a strong trade relationship. In 2023, the Kingdom’s exports to the European country amount to $810.67 million.

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